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Questions

2007-06-21
I made my first trip to Vegas in 1992. So far as I can remember, casinos have been issuing W-2Gs for machine wins of $1,200 or more since that time. Is there any movement afoot in Washington to raise that limit? It would seem that it might be considered just simply due to the annual inflation rate over the past 15-20 years.
2007-05-07
My isn't English very good, so would you have the kindness to translate this for your readers? Un joueur français qui aurait la chance de gagner un beau jackpot devrait-il payer une taxe? Connaissez-vous le taux? Certainly: Would a French player who's lucky enough to win a large jackpot have to pay tax on it? Do you know what that tax would be?
2006-10-14
So what's the deal with Reg 6A expiring? Aren't the feds worried about the casinos laundering money anymore?
2006-08-26
What percent of casino profits does the state of Nevada get?
2006-07-07
Would you advise me to bring my Social Security card to Las Vegas? I never have, as security experts advise you not to carry it. But do you have to show it if you win above the W-2G threshold? Or can you just provide them with the number without the SS card for proof?
2006-06-03
If someone had some extra money (but not a ton!) and wanted to invest in a piece of real estate in Vegas, what would you recommend? Or is it too late? Thanks!
2006-03-18
Let's say you enter a satellite tournament for the World Series of Poker and manage to win one of the $10,000 entries. You then, of course, get knocked out in the main tournament, long before you reach the money. What are the tax implications of winning your entry fee? On the one hand, you didn't win any actual cash. On the other, the seat has a definite $10K value. I'd hate to be on the hook for $10K worth of ordinary income that I never actually saw. That would make playing in the WSOP a very expensive lark, even via satellite entry.
2005-12-18
If I win online, do I have to pay taxes?
2005-10-30
How long has the requirement for the casinos to issue W2Gs on slot or video poker wins of $1,200 or more been in effect? I seem to remember this amount to have been about the same for probably 20 years. $1,200 of 20 years ago isn't the same in today's dollars -- has there ever been talk of raising the limit by the IRS?
2005-10-16
We're coming to Vegas in October and are wondering what the check-cashing policy is in Las Vegas. I do not want to carry a lot of cash and travelers checks can be a pain. I would like to go into a casino and cash a check for $500 and then if I need more, can I cash another check in a different casino on the same day? Here in Illinois, the casinos all seemed to be linked to a service and you can only cash checks for up to $499.
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