Gambling and Tax

New Law Reduces Tax Odds for Gamblers

October 2nd, 2025|Categories: accountant near me, Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Deductions, Gambling, Gambling Losses, Gambling Winnings, OBBBA, One Big Beautiful Bill 2025, One Big Beautiful Bill Act, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Deductions, Texas CPA, The Burns Firm|Tags: Can Gambling Losses be Deducted on Tax Return, CPA Dallas, cpa near me, Deductions for Gambling Losses, Gambling, Gambling and Tax, OBBBA, tax advisor, Texas CPA, The Burns Firm|

Do you enjoy spending time at the casino or betting on sports? If so, you need to know about a new tax law provision scheduled to go into effect in [...]

Do You Know the Tax Consequences of Gambling

February 12th, 2025|Categories: Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Gambling Winnings, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Records, Tax Rules, Texas CPA, The Burns Firm|Tags: Do I pay tax on gambling winnings, Dop I need to report my gambling winnings, Gambling and Tax, Professional Gambler Treated as a Business, Reporting Gambling Income, tax, tax advisor, Tax Consequences of Gambling, The Burns Firm|

Gambling can be a fun pastime or a serious professional endeavor. Either way, winnings are taxable income. Yet, as recently reported by the Treasury Inspector General for Tax Administration (TIGTA), [...]