1040A is no more.

[PaceAdvantage]

Originally Posted by Actor

I do not put my financial information online, period.

I have bad news for you. Unless you've gone your entire life paying cash from under your mattress, your financial info is already online and has been for like forever...

[NJ Stinks]

Originally Posted by NorCalGreg

Gary:

I don't really need your help--thanks.

-NCG

Greg, evidently Gary is trying to smooth things over!

Because he has reached out and given you sound tax advice.

Link: http://www.forbes.com/sites/teresage.../#211339f4374f


Link: http://www.federalregister.gov/docum...bling-winnings

[TJDave]

Originally Posted by Actor

The IRS got rid of Form 1040A. I was not consulted. Now my taxes are a lot more complicated.

No, they’re not.

You’re a big brain physicist. Follow the instructions.
Stop your whining.

[Suff]

I file with fingers crossed because I have sole-member llc's, DBA and some non-receipt transactions because the money comes in electronically.

Such as money to my personal paypal for services of my LLC. I have to be shifty a tad,

[delayjf]

Are you aware that the "300-1" rule is now against the entire cost of your ticket?

Are any transactions over 10 grand still reported to the IRS?

[garyscpa]

Originally Posted by NorCalGreg

Instead of "demanding facts" figure it out. I demand you post your CPA credentials, and I'll post my W2G.

Here you are.






Hey, it's not easy to get a W-2G under the new rules. I only know two people who did. I was just pointing out that the new rules went into effect in 2017. You should be proud to get one.


And I don't dislike you despite what you might think. You were down on your luck and went out and saw an opportunity and created your Pace View products. Pretty admirable, really.

[garyscpa]

Well, that didn't work. I can't get it to attach and the image is either too big or too small.


Anyway, we were talking about W-2G's as they relate to horse racing, not tax law, so I won't bore you with that any longer.

[ElKabong]

Originally Posted by delayjf

Are any transactions over 10 grand still reported to the IRS?

I know at lone star park, if you hit 16k you have to sign for it. That was as of last month. I was told 10k was the threshold but the guy that told me that was an employee there. Not a cpa or irs person

NJ stinks is an irs guy, there are some cpa's here as well. Feel free to correct me on the 10k threshold if I'm wrong.

[Ocala Mike]

All cash transactions of $10,000 or more come under this rule, not just gambling transactions.

https://www.irs.gov/businesses/small...-of-over-10000

[Actor]

Originally Posted by PaceAdvantage

I have bad news for you. Unless you've gone your entire life paying cash from under your mattress, your financial info is already online and has been for like forever...

You're right. But I don't have to make it easier for the hackers.

[Actor]

Originally Posted by TJDave

No, they’re not.

You’re a big brain physicist. Follow the instructions.
Stop your whining.

I find the whole thing amusing. Didn't my statement "I was not consulted" give that away? If not then I guess I'll have to give up my plans for a career writing material for stand up comics.

[Actor]

Originally Posted by TJDave

You’re a big brain physicist. Follow the instructions.

Physics and finance are two entirely different worlds. Trust me.