Many of my fans know I originally lived in Canada, But less know that I have three citizenships between the U.S., Canada and Malta! (Not to be outdone, Marco has citizenship in no less than four places, haha!)
So it’s natural I suppose, that I get questions about gambling and taxes, although I’m not an accountant! Here’s one I get a lot:
Since you’re Canadian, do you pay taxes on JACKPOTS?
Roger P.
Even when I was living in Canada, I was not immune from taxes on U.S. jackpots. Canadian residents tend to have taxes deducted automatically upfront, but they can file with the IRS to get refunded on taxes when there’s gambling losses – it’s not much different than being a U.S. resident.
Of course, I’ve lived here for a decade now, and have paid U.S. taxes accordingly, and that doesn’t change now that I’m a citizen here. Players who have enough winnings to itemize on their income taxes can write off gambling losses against their winnings. As you can imagine, I qualify for that!
Since that was an easy one, here’s a bonus question about jackpots:
How do you separate business from personal jackpots?
Linda W.
Well, you don’t haha.
There’s no such thing as a business jackpot. When I play in the casino, even though I make content for my business, the gambling is still my own personal gambling. I have to report the winnings (and get to write off the losses) on my own personal taxes.Turns out, businesses can’t gamble, haha.
This is one of the reasons players see me pushing the button during the group pulls. I’m covering the taxes personally on my own by claiming them myself. This is also why Raymond, who you all see periodically in videos, doesn’t even generally push the buttons (and when he does, only on very rare occasions, and on smaller bets) – if he hit a jackpot, that would be on his own personal taxes, and I can’t step in most of the time due to casino rules.
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I enjoy watching you play. But now it’s a downer watching you because I can’t play the online games due to living in Vegas. So sad.
We appreciate the support, Gloria! We hope you’ll continue to at least join us for some more great content to come!
You share the most valuable information!!
Thanks for keeping your fans informed as well as entertained!!
Thanks Angie! We do our best to share what people want to know!