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The Poker Players Logbook© as
a Tax Documentation Tool.
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Along with keeping current track of your game and bankroll, the Poker Players Logbook© is also an excellent tax documentation tool. Safely store all of your exhausted Poker Players Logbooks© to calculate your wins and losses at the end of the year and use your losses to offset your taxable winnings.
In the event of a tax audit, Uncle Sam will need you to prove your losses. The Poker Players Logbook© is an acceptable tool when reporting your overall itemized deductions.
For example, if you have had a losing streak for the first three quarters of the year playing poker in casino poker rooms and your down $4,000…and near the end of the year you win a sizeable tournament that earned you $10,000…you will only be paying taxes for roughly $6,000 instead of the full $10,000.
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So, don’t be caught fooling with losses at tax time unless you can prove your history with the Poker Players Logbook©.
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© 2005 The Poker Logbook Company, All Rights Reserved
© 2005 Poker Players Logbook, Portland, Or All Rights Reserved |
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