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02-20-2018 , 06:16 PM

kneehall

enthusiast

Join Date: Jan 2018 Posts: 94

Anyone have a CPA that they would recommend based on gambling wins and losses?

I've spoken to three general CPAs and I've gotten conflicted reports from each of them regarding the best way to go about writing off loses, etc.

I also spoke to a gambling specific CPA - http://kondlercpa.com/services/poker-tax-consultation - but they were on the pricey end.

Thanks!

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02-20-2018 , 07:28 PM

King Spew

Just average

Join Date: Apr 2006 Posts: 15,219

Maybe look Here to start? Won't really advise of specific firms/CPAs .....but will maybe educate yourself enough to realize it's not really beyond what you can do yourself

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02-21-2018 , 09:00 AM

answer20

Carpal \'Tunnel

Join Date: Feb 2013 Posts: 10,844

If it's just wins and losses that may/may not include being 1099'd, without trying to accommodate being 'pro', then most tax software will lead you down the right path.

The unfortunate thing for a lot of players is that your winnings go right into your income but the ability to actually have your losses 'help' you via deduction is normally tied to being able to get beyond what the standard deduction would provide you by default.

I think the bigger issue would be to make sure you file your state(s) returns properly as those tax departments tend to be a little more attentive than the Feds. GL

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02-21-2018 , 09:18 AM

Pots-For-Sale

old hand

Join Date: Jun 2011 Posts: 1,861

Guy named Russ Fox is a part of these forums. I have been using him for years. He’s reasonably priced. You can google him. He’s also by the book fwiw.

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02-22-2018 , 12:02 PM

kneehall

enthusiast

Join Date: Jan 2018 Posts: 94

Quote:

Originally Posted by Pots-For-Sale

Guy named Russ Fox is a part of these forums. I have been using him for years. He’s reasonably priced. You can google him. He’s also by the book fwiw.

Thanks! Just looked him up and will give him a call.

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03-08-2018 , 02:03 PM

kneehall

enthusiast

Join Date: Jan 2018 Posts: 94

Quote:

Originally Posted by Pots-For-Sale

Guy named Russ Fox is a part of these forums. I have been using him for years. He’s reasonably priced. You can google him. He’s also by the book fwiw.

Thanks again for the recommendation. I went with him and the process is relatively straight forward.

Cheers!

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03-08-2018 , 02:26 PM

Pots-For-Sale

old hand

Join Date: Jun 2011 Posts: 1,861

Quote:

Originally Posted by kneehall

Thanks again for the recommendation. I went with him and the process is relatively straight forward.

Cheers!

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12-12-2018 , 08:22 PM

bbvsla

newbie

Join Date: Mar 2011 Posts: 45

Quote:

Originally Posted by kneehall

Thanks again for the recommendation. I went with him and the process is relatively straight forward.

Cheers!

I've seen returns prepared by Russ Fox that had to be amended because taxpayer overpaid thousands of dollars in tax AND returns were potentially in audit risk (he reported only 1 expense).

Also, Russ Fox is not a CPA. Please check the credentials. The reason he is cheap is because he doesn't have CPA credentials and is uneducated (he has a degree in biology or something, not tax or accounting).

If you want to save money on tax prep fee, but then over pay thousands in taxes and fees, then go for it.

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12-13-2018 , 08:33 AM

PokerPlayingGamble

Dispute Unresolved

Join Date: Mar 2018 Posts: 4,669

shots fired

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