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Matthew Russel
By In Facts on Taxes

Are All Types Of Gambling Winnings Reported On A 1099 Form?

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Matthew Russel
By In Facts on Taxes

Can Seniors Deduct Gambling Losses From Their Winnings For Tax Purposes?

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Matthew Russel
By In Facts on Taxes

Are There Thresholds For Reporting Gambling Winnings On A 1099?

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Matthew Russel
By In Facts on Taxes

Are There Specific Gambling Winnings That Do Not Require Reporting On A 1099 Form?

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CryptocurrencyFacts on TaxesFiling TaxesTaxes
December 15, 2023

Pros and Cons of Paying Taxes with Cryptocurrency

As the world continues to embrace the digital revolution, cryptocurrencies have emerged not only as a financial asset but also as a potential means of conducting day-to-day transactions. One intriguing aspect of this evolution is the idea of paying taxes…
Matthew Russel
CryptocurrencyFacts on TaxesTaxes
December 15, 2023

The Top 5 Ways to Minimize Your Cryptocurrency Tax Liability

In an era dominated by the rapid evolution of digital assets, the management of cryptocurrency tax liability has become an increasingly pressing concern for investors. As the popularity of cryptocurrencies continues to soar, so does the scrutiny from tax authorities…
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Facts on TaxesFederal Income TaxFiling TaxesPersonal TaxesTaxes
December 7, 2023

What Are The Different Taxes You Must Pay In Canada?

Navigating the Canadian tax landscape is essential for both individuals and businesses alike. With a complex system encompassing various taxes at different levels, understanding these financial obligations is crucial. In this blog, we will embark on a journey through the…
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December 6, 2023

Can You Claim Your Property Taxes On Your Income Tax Canada?

Navigating the intricacies of the Canadian tax system can be a complex task for many individuals, and one aspect that often raises questions is the eligibility of property taxes for inclusion in income tax claims. As homeowners and property owners…
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Facts on TaxesFederal Income TaxFiling TaxesPersonal TaxesTaxes
December 6, 2023

Why People Get Audited by the IRS?

Facing an audit from the Internal Revenue Service (IRS) can be a daunting experience, sparking concern and uncertainty among taxpayers. As the tax landscape continues to evolve, understanding the common triggers for IRS audits becomes crucial for individuals and businesses…
Matthew Russel
Corporate Business Taxes & LawsFacts on TaxesFederal Income TaxSmall BusinessTaxes
December 6, 2023

How to Calculate Corporation Business Taxes?

Navigating the complex landscape of corporation business taxes is a crucial aspect of financial management for any business entity. As corporations operate within a framework of regulations, understanding how to calculate and manage taxes becomes paramount to maintaining fiscal health…
Matthew Russel
Corporate Business Taxes & LawsPayroll TaxSmall BusinessTaxes
December 6, 2023

How to Prepare for a Payroll Tax Audit?

Facing a payroll tax audit can be a daunting prospect for businesses, underscoring the critical need for meticulous preparation. As government agencies intensify their scrutiny of payroll tax compliance, it becomes imperative for organizations to navigate this process with precision…
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Capital Gains TaxFacts on TaxesFederal Income TaxTaxes
December 6, 2023

How to Calculate Capital Gains Taxes?

Navigating the intricacies of financial responsibilities is an essential aspect of managing one's economic affairs. Among these responsibilities, understanding and calculating capital gains taxes play a pivotal role for individuals engaged in investments and asset transactions. Capital gains taxes are…
Matthew Russel
Corporate Business Taxes & LawsFacts on TaxesSmall BusinessTaxes
December 4, 2023

What Are Corporation Business Taxes?

In the intricate landscape of finance and commerce, corporations play a pivotal role in driving economies, fostering innovation, and contributing to societal development. As these entities navigate the complex web of fiscal responsibilities, one crucial aspect that demands attention is…
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December 4, 2023

How Taxation Affects Your Investments?

In the intricate landscape of financial planning and wealth accumulation, investors navigate not only market fluctuations but also the often-overlooked terrain of taxation. The symbiotic relationship between investments and taxation is a critical aspect that can significantly influence the growth…
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December 4, 2023

How To Report Tutoring Income On Taxes?

Navigating the intricacies of reporting tutoring income on taxes is a crucial aspect of ensuring financial compliance for individuals engaged in tutoring services. As the demand for personalized education rises, many individuals find themselves providing tutoring services either as a…
Matthew Russel
What Are The Best Corporation Business Tax DeductionsCorporate Business Taxes & LawsFacts on TaxesFiling TaxesSmall BusinessTax DeductionsTaxes
December 4, 2023

What Are The Best Corporation Business Tax Deductions?

In the intricate realm of corporate finance, understanding and strategically utilizing tax deductions are crucial for businesses aiming to optimize their financial health. Corporations navigate a complex landscape of tax regulations, and identifying the best business tax deductions is not…
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Filing Taxes Topics

Does Illinois Tax Lottery Winners
Facts on Taxes

Does Illinois Tax Lottery Winners?

Lotteries have long captured the imagination of hopeful individuals, offering the tantalizing prospect of instant wealth. This blog delves into the crucial and often overlooked aspect of lottery triumphs: the taxation intricacies in Illinois. Understanding these tax implications is fundamental for…
Capital Gains Tax

How Do I Avoid Paying Taxes On Prize Winnings?

Are you a recent prize winner looking for ways to keep more of your winnings? Look no further! In this post, we will explore the tax implications of prize winnings and provide strategies for avoiding or minimizing the taxes you…
Facts on Taxes

Are All Types Of Gambling Winnings Reported On A 1099 Form?

In the vibrant world of gambling, the thrill of winning is often accompanied by responsibilities that extend beyond the casino floor or poker table. For those fortunate enough to secure a windfall, understanding the tax implications becomes paramount. The Internal…
Corporate Business Taxes & Laws

The Tax Benefits Of Forming An LLC

An LLC, or limited liability company, is a popular business structure that offers a range of tax benefits to its owners. These benefits include pass-through taxation, self-employment tax savings, flexibility in allocating income and losses, and personal asset protection. In…
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What Is The Tip Rule For Taxes In Canada?
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What Are The Tax Implications Of Receiving A Bonus Or Severance Package?
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Why Are Lottery Winnings Taxed In America?
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How Does H&R Block Handle Corrections To Incorrect Returns?
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What Does It Mean To Say That Debt Is “Tax Deductible”?
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What Are The Different Taxes You Must Pay In Canada?
Corporate Business Taxes & Laws
Can An LLC Claim Lottery Winnings In North Carolina?
How To File My Crypto Taxes
Cryptocurrency
How To File My Crypto Taxes?
Employers Check EPF History
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Can Employers Check Your EPF History?
Corporate Business Taxes & Laws
When Are Property Taxes Due In United States?
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What If I Made A Mistake On My Tax Return Canada?
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Gambling & Lottery Winnings Tax

Reporting Gambling Winnings
Facts on Taxes

What Happens If You Forgot To Report Gambling Winnings?

The thrill of hitting the jackpot at a casino or scoring big with a winning lottery ticket is undoubtedly an exhilarating experience. However, amid the euphoria and excitement, it's easy to forget that those gambling winnings are subject to taxation…
Federal Income Tax

Is Gambling Winnings Taxable In California?

Gambling has long been a source of entertainment and excitement for many residents of California, with its vibrant casinos, poker rooms, and lottery offerings. However, beyond the thrill of winning, it's crucial for individuals to navigate the complex terrain of…
Facts on Taxes

Do You Report Gambling Winnings To The CRA?

For many individuals, the thrill of gambling and the prospect of hitting a jackpot or scoring big at a casino can be an exhilarating experience.  This blog aims to shed light on the often-confusing terrain of reporting gambling winnings to…
Do Canadians Pay Tax On Winnings In Vegas
Facts on Taxes

Do Canadians Pay Tax On Winnings In Vegas?

Las Vegas, often referred to as the entertainment capital of the world, has long been a magnet for thrill-seekers, fortune-chasers, and avid gamblers from around the globe. Its glittering casinos and vibrant nightlife attract millions of visitors each year, including…
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Where Do I Enter W-2G On H&R Block?
Can You Claim Gambling Winnings Under An LLC
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Can You Claim Gambling Winnings Under An LLC?
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Are There Thresholds For Reporting Gambling Winnings On A 1099?
Facts on Taxes
How Do I Document Gambling Losses For The IRS?
Facts on Taxes
Are Bingo Winnings Taxable?
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Do I Have To Pay State Taxes On Gambling Winnings In Nevada?
Facts on Taxes
How Do I Prove Gambling Losses On My Taxes?
Corporate Business Taxes & Laws
Can An LLC Claim Lottery Winnings In Alabama?

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