I have two distinct lives. One in the trenches of low-budget film and television, the other in professional gambling. Because of the feast-or-famine nature of show business I need a reliable income... gambling. So here you will read about both worlds. Enjoy!

Thursday, November 8, 2018

Gambling With an Edge - Russell Fox

Our guest this week is tax advisor Russell Fox.  We discuss various tax situations that affect gamblers and other citizens.

click to listen - alt click to download

Show Notes

[00:00] Intro of Russel Fox of Clayton Financial and TaxableTalk.com, rcfox@ClaytonTax.com
[00:35] Draft Kings daily fantasy sports special at the Las Vegas Advisor.
[01:43] Do new tax laws affect end of year planning?
[03:39] Are there any recent legal decisions that affect gamblers and taxes?
[05:14] Could the next Congress pass any important tax bills?
[06:53] Could you postpone claiming a jackpot for tax purposes?
[10:49] Are lottery tickets deductible from gambling winnings?
[15:11] Does the IRS accept win/loss statements?
[17:16] How will the larger standard deduction negatively affect amateur gamblers with only a few W2Gs?
[19:52] Would claiming $100,000 in wins and $100,000 in losses trigger an audit?
[25:21] Would gambling winnings in the U.K be transmitted to the IRS?
[27:07] Discussion "gambling sessions."
[32:10] SouthPoint Casino - Walmart gift card promotion, Thanksgiving Hot Seat promotion, Senior Day Mondays
[33:17] AutoSlash.com - six things that listeners should know about saving money on rental cars.
[35:03] Videopoker.com - free membership offer for GWAE listeners, "Stack the Deck" is the game of the week.
[36:58] Do poker winnings in Texas have to be reported?
[38:02] Discussion of the tax implications for a team consisting of an amateur gambler and a professional gambler.
[43:52] Does being barred from a casino affect a player's ability to get win/loss records?
[47:16] Can a professional gambler take the foreign earned income exclusion?
[51:30] Should enrolled agents violate federal law or state law when there is a conflict?


AutoSlash - http://autoslash.com
SouthPoint Casino - https://southpointcasino.com/

Thursday, November 1, 2018

Gambling With an Edge - Listener emails

This week Bob and I answer questions submitted by our listeners. We encourage your questions, and you can send them to gamblingwithanedge@gmail.com.

Click to listen - Alt-click to download

Show Notes:

[00:00]  Intro
[00:40]  What hourly rate is acceptable for casino play with little or no heat?
[03:55]  Have you ever let your personal dislike for a casino corporation or casino owner factor into your decision to play?
[08:29]  How do full time APs answer questions and/or provide documentation on CTRs?
[12:42]  How do you deal with players following you from game to game?
[18:34]  Do you know of anyone that has successfully fought a trespass?
[22:15]  If you're not trespassed, how long would you stay away after being backed off?
[26:56]  SouthPoint November Promotions:  Walmart gift cards promo.
[28:42]  AutoSlash.com can save you money on car rentals.
[30:43]  VideoPoker.com GWAE listeners can get a free trial.
[33:08]  Why would a video poker player not want use casino credit?
[35:42]  How much should a full time card counter expect to make?
[37:59]  How does someone get a legal name change?
[43:02]  Could you play two hands of $1000 with mid-shoe and only positive count?
[44:42]  What books would you recommend for a novice slot player?
[46:50]  How can someone find pay tables on old video poker machines?
[48:40]  What strategy adjustments are needed to play Blazing 7's blackjack?
[50:18]  A casino made a Martingale customer flat bet after winning $800 bet.
[52:00]  Las Vegas Advisor coupon run question.

"The Slot Expert's Guide to Playing Slots" - https://amzn.to/2Rqs7aE