Gambling Winnings

Rules of the Game: The Right Way to Handle Gambling Winnings

March 31st, 2026|Categories: Accountant, accountant near me, Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Gambling, Gambling Losses, Gambling Winnings, Tax, tax accountant, tax accountant near me, Tax Advisor, The Burns Firm|Tags: Can Gambling Losses be Deducted on Tax Return, CPA, cpa near me, Dallas CPA, Deductions for Gambling Losses, Do I pay tax on gambling winnings, Gambling Winnings, tax, tax advisor, The Burns Firm|

It's not true that the "house" always wins — but it's close. Various estimates put casino "winners” — gamblers who walk away from a casino with more money than they entered [...]

What are the tax implications of winning money or valuable prizes?

October 5th, 2023|Categories: Accountant, accountant near me, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Gambling Winnings, Services, Tax, tax accountant, Tax Advisor|Tags: cpa near me, Dallas CPA, Gambling Winnings, Lottery Winnings, tax, tax accountant near me, tax advisor, Tax and My Winnings, Tax on Gambling Winnings, The Burns Firm|

If you gamble or buy lottery tickets and you’re lucky enough to win, congratulations! After you celebrate, be aware that there are tax consequences attached to your good fortune. [...]