[vpFREE] Beau Rivage

 

Hi Group,

My wife & I will be going to Beau Rivage this weekend, is there anything thing we could do during the day within walking distance of the Casino?

Your input is appreciated….

Jim

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Posted by: Yahoo <linton714@yahoo.com>
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Re: [vpFREE] Re: Bob Dancer's LVA Column - 16 FEB 2016

 


Hope it's clear that I think this discussion went off the rails from the start ...

However, speaking as an accountant/financial analyst, I'm hard pressed to imagine under what circumstances accrual accounting would be appropriate reporting of gambling activity for taxes.

And, FWIW, in any case, my informed guess is that receipt of gift cards qualifies for accounting as a cash equivalent.

Of course, I've little doubt that that there are vast disparities between how people actually reporting their gaming activity ("keep score") and the actual IRS guidance.



---In vpFREE@yahoogroups.com, <nightoftheiguana2000@...> wrote :

Bob wrote: "That may well be the way you keep score. What confidence do you have that others keep the score the same way?"

Perhaps there should be a poll: What method of accounting do you use to report your gambling winnings to the IRS? If you just have a tax preparer do the work, most likely they are using the cash method.




[Non-text portions of this message have been removed]

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Posted by: harry.porter@verizon.net
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RE: [vpFREE] Re: Bob Dancer's LVA Column - 16 FEB 2016

 

Income that is "constructively received" is considered income for a cash
basis taxpayer.

From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com]
Sent: Tuesday, February 16, 2016 12:07 PM
To: vpFREE@yahoogroups.com
Subject: [vpFREE] Re: Bob Dancer's LVA Column - 16 FEB 2016

If you're doing the cash method of accounting, stuff counts when it gets
converted to cash.

Cash method of accounting - Wikipedia, the free encyclopedia
https://en.wikipedia.org/wiki/Cash_method_of_accounting

Cash method of accounting - Wikipedia, the free encyclopedia
https://en.wikipedia.org/wiki/Cash_method_of_accounting The cash method of
accounting, also known as cash-basis accounting, cash receipts and
disbursements method of accounting or cash accounting (the EU VAT directive
vocabulary Article 226) records revenue when cash is received, and expens...

View on en.wikipedia.org
https://en.wikipedia.org/wiki/Cash_method_of_accounting
Preview by Yahoo

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Posted by: "Randy Cowdery" <randyc@alumni.ucla.edu>
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Re: [vpFREE] Re: Bob Dancer's LVA Column - 16 FEB 2016

 

Bob wrote: "That may well be the way you keep score. What confidence do you have that others keep the score the same way?"

Perhaps there should be a poll: What method of accounting do you use to report your gambling winnings to the IRS? If you just have a tax preparer do the work, most likely they are using the cash method.

[Non-text portions of this message have been removed]

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Posted by: nightoftheiguana2000@yahoo.com
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