Legal Blog

How Gaming Wins and Losses Can Impact Your Tax Obligations

pokernews1“Render therefore unto Caesar the things which are Caesar’s.” Except, of course, for those things you lost to Caesar in his Las Vegas palace or Atlantic City resort.

Taxes – the less morbid of those two certainties that permeate the world in which we live – are a subject of such appreciable complexity that reformation of the Internal Revenue Code has earned a unique spot atop the pantheon of politicians’ bait-and-switch campaign promises over the past several decades. Certified public accountants and tax lawyers are no longer a fringe cottage industry subsumed within the American core of professionals – they have, for better or worse, become as much a part of our April tradition as those showers that proverbially beg May flowers.

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