Questions. We get lots and lots of questions.
How much does it cost to drive across the bridge?
If there's a toll on the bridge, it costs however much the toll collects. If there isn't, the bridge is free.
(Yes, this is an actual QoD submission. We have no idea which bridge the question refers to and we know it's not in Nevada, since there are few bridges and none have tolls. But we thought we'd answer it anyway, because, after all, that's what we do.)
If I win a wager on December 30 and collect it on January 1, is it countable for 2019 income or 2020?
2020. It's the same as when you work the last two weeks of December and then collect your paycheck on January 2. But it's not as cut and dried as some of you might be thinking. It's different with freeplay. You can read all about that in our book Tax Help for Gamblers, now in its fourth edition.
I have heard for years about "walking-around money." What can you tell us about this?
"Walking-around money" is just another way of saying "pocket money": cash you carry on your person, in a wallet or purse, to pay for routine expenses and/or minor emergencies. For some people, it's as low as a few bucks (like the younger generations who do everything via debit cards), while others feel naked, financially speaking, without hundreds of dollars on them.
It's also political slang for "street money" or "get-out-the-vote money": cash handed out by campaign managers to grass-roots workers and street canvassers for "expenses incurred" (i.e., small bribes to voters) right before elections.
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VegasVic
Feb-22-2020
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