The lockdown around the world does not look like it’s going to completely stop any time soon. If you had asked most people if it was possible for governments around the world to force all businesses to close along with making everyone stay home, most would have said no. Recent times have never been so depressing before and with no end in sight, it is vital to keep upbeat. During the lockdowns gambling activity has been on the rise, whether it’s online slots or poker or whatever. One of the main reasons for this is that one of the most…

From Forbes – Do you enjoy rolling the dice, playing cards or betting on the ponies? However you gamble, one thing is clear: gambling winnings are always taxable income in the eyes of the IRS. You might think that’s all the IRS says about gambling. But actually, the IRS offers some tax tips for casual gamblers. 1. Winnings Are Income. Gambling income includes winnings from lotteries, raffles, horse races and casinos. Obviously, cash winnings are taxable. You must report all your gambling winnings as income on your tax return regardless of whether you receive an IRS Form W-2G. 2. Winnings In Kind. But even if…