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Those 0 jackpots will not only trigger a tax form, but if you play another hour or two, your taxable winnings will probably be long gone by the losses you incur, and your tax liability will still be outstanding.Certainly, Bill, you can keep track with meticulous records of your losses to offset any winnings, but few, if any, casual gamblers do.Yes, Bill, and it may get worse....
The only time that a machine is swapped out is when management believes it is underperforming or decides to convert the machine to a newer or more popular model.Yes, Bill, and it may get worse. Believe me, Marv, it is no bang-bang deal when they do....
I am going to Las Vegas in October – my first trip – for the World of Concrete convention at the Las Vegas Convention Center.” – Jean ScottYes, Bill, and it may get worse....
Earlier this year, as part of an expansive rewrite of gambling tax law, the IRS put forward the idea of lowering the mandatory reporting minimum for slot machines to 0. Uncle Sam figures that since, by law, gamblers must pay taxes on every dollar they win at casinos, bingo parlors, racetracks, even an informal football bet with Uncle Louie, the IRS might as well capture more with a lower jackpot threshold.5 percent for five dollars and above....
No, Marv, there is no magic switch that’s flipped from some secret undisclosed location, nor chip or machine swapping happening to hornswoggle unsuspecting conventioneers out of more dough.As for the hold percentage averages 24 box24 casino login for the Las Vegas Strip, they are approximately 11 percent for nickels, 6-7 percent for quarters, 4 percent for dollars and 3.Yes, Bill, and it may get worse....