KEEP MORE OF WHAT YOU WIN
Tired of the same old promotional premiums and gimmicks that get lost
in the shuffle? Here's a premium that is gambling related and can save your
customers money!
A Great Handout With The W-2G Tax Form! A Hot Seller For Bookstores And Gift Shops. A Great Premium For Slot Tournaments And Club Members During The Tax Season. It's The Perfect In-Room Reading For Comped Players And High Rollers!
It's a WIN WIN Situation
Here are just some of the many benefits of our book compared to other premiums:
Another advantage of our book? Its staying power with gamblers. People who gamble will keep this book for a long time as a source of reference. It will find a lasting resting place on the gambler's bookshelf, spurring memories of the company that awarded them for years to come.
In "How to Keep More of What You Win," Walter L. Lewis sees the dramatic growth of legalized gambling as a Win-Win situation for the Internal Revenue Service (IRS). More winnings result in more taxable winnings and increased revenue. By all winnings, the IRS means just that -- both legal and illegal, Lewis emphasizes.
Lewis contrasts the fortune of Wally the Winner against the misfortunes of Louie the Loser, both gamblers and taxpayers. The bottom line? Don't gamble unless you're prepared to win.
There is a section that includes commonly-asked questions. One example, can gambling losses be carried from one year to the next? No, they can't be; Lewis explains the law. Not all of the questions have predictable answers. For example, did you know that a gambler could still have a tax liability, even though gambling losses equaled or exceeded winnings?
Lewis presents a clear and concise outline of what a gambler must do to substantiate losses. Did you write down the identification number of the table where you played your last blackjack game? Can floor personnel substantiate the losses you want to report to offset a series of wins?
In a section on reporting gambling winnings and losses, Lewis takes you through Form 1040, line by line, and shows you where to insert the work, gambling, as "other income" or the words, gambling losses, as "miscellaneous deductions."
Then, Lewis tells about the adventures of John and Jane Taxpayer, two retirees. You follow along as they fill out their tax return, line by line. Pension income, taxes, dividends, savings deposits, Social Security. It's all there. Or is it? Oops. They neglected to include $2,500 in winnings from their annual casino vacation. It had a big impact even through their winnings equaled their losses. Instead of receiving a $305 refund, they wound up paying $388 -- that's a $693 swing.
Lewis shows how the win increased the taxable portion of their Social Security by $2,125. And, although their winnings equaled their losses, they still increased their tax liability from $5,295 to $5,988.
But even if a gambler failed to report gambling winnings, it's never too late to make amends with Form 1040X. Once again, Lewis quickly shows you what to do, line by line.
Lewis' book is for the everyday gambler as well as the novice who strikes it rich. Hopefully, it will be expanded upon in future editions.
The single order book at $16.95 includes shipping & Handling in USA only. All other quantity orders will be calculated and you will be advised of the exact fright charges.
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