http://en.wikipedia.org/wiki/Comparison_of_cash_and_accrual_methods_of_accounting
--- In vpFREE@yahoogroups.com, "Jan Spornhauer" <janspornhauer@...> wrote:
>
> According to the tax code Rob is correct. It is when you have the
> availability to get the funds they are taxable. One can't just leave the
> money in their account and defer to the next year.
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> _____
>
> From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com] On Behalf Of
> bmather4440
> Sent: Monday, October 24, 2011 8:16 PM
> To: vpFREE@yahoogroups.com
> Subject: [vpFREE] Re: Trespass at Casino Montelago
>
>
>
>
>
> Is this 100% true? I think it's a grey area as to what year you should count
> it as income (I remember reading once that as soon as you have "funds" that
> are eligible to be cashed out at any time, you have immediate income for
> that year ... i.e. it doesn't matter when you cash it out, you technically
> have income when the cashback accrues).
>
> Regardless, I'm definitely not a tax pro...
>
> > FYI There are tax advantages in deciding what year to take cashback.
> >
> > And sometimes I wonder why casinos put in high limit games if they don't
> really want people to play them.
> >
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> [Non-text portions of this message have been removed]
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