How To Record Online Poker Games?

How To Record Online Poker Games
How to record your own online poker videos If you want to record a video while playing online poker, you will need a screen recording software. You can record a part or the full screen of your monitor and even add voice narration, music and cool effects.

  1. You may also include yourself captured by your web camera and add other video sources using the picture-in-picture function.
  2. And if you want to be famous and your poker videos to be really popular, you should upload them to Youtube and other poker community sites.
  3. There are many educational, instructional and training websites about online poker, some of which have huge directories of poker videos.

Although it’s fun watching other players’ poker play, it is even more fun to discuss your own style of play and receive comments about your poker video. There are 2 available pieces of screen recording software. The first,, being an open source software is a free video recording software and enables you to record the screen and your voice.

The second is called and is a commercial product. Since you usually get what you pay for, Camtasia Studio is full of capabilities and is known for its ease of use and functionality. If you need a sample of work done with Camtasia Studio, you can watch my recently published poker video series at Youtube.

As I recorded each episode, I experimented with the various tools available and was even able to add captions for non Greek viewers. If you want the best video quality for your poker videos, you should capture in a high definition resolution (say 1280 x 720, which is 720p) or keep at least the same aspect ratio so that when resized, the final outcome does fit exactly at 720p resolution.

If you actually produce a poker video in that resolution, your video will be available for viewing at 720p on Youtube, which would add the “HD” watermark on your video. Another advantage of such a resolution is that you can play many tables and fit all of them without losing video quality. Finally, you should produce your poker video as an Mpeg-4 (MP4) format for optimized size and quality.

: How to record your own online poker videos
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Can I host an online poker game?

November 15, 2021 How To Record Online Poker Games Update: you can now play online poker games with friends on PokerStars and 888poker from your mobile device! Looking for a way to play online poker with your friends and keep your home games running? Some of the best online poker sites give you everything you need to create a private poker club, invite people to join you there, and play online poker with your friends for free and real money.

PokerStars, 888poker, WSOP App, ClubGG Poker, and partypoker are the most popular poker rooms to offer a service like this one and by far the best ones to play poker with friends, Setting up poker games with friends on these sites is easy, fast and free, All you need is to make sure you and your friends have an account on the poker site of your choice and the right codes to access your private games.

In this article you’ll find:

  • How to play online poker with friends on PokerStars
  • How to play online poker with friends on 888poker
  • How to play online poker with friends on the WSOP App
  • How to play online poker with friends on ClubGG
  • How to play online poker with friends on partypoker
  • How to join free online private poker rooms

Note: to compile this guide to the best poker apps to play online poker with friends, we tried other (supposedly) free apps like Pokerrrr 2, Poker Heat, and more. We did not include them here because tried forced us to complete in-app purchases to keep our games going. And that’s not cool.
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Can you record at a poker table?

How To Record Online Poker Games Those who enjoy content creation and attending poker tournaments have probably wondered how they can better document the whole experience. A GoPro is probably one of the first cameras that would come to mind. It’s essentially a fully hands-free video capturing device, as Nick Woodman, the developer, intended it to be.

  1. As a surfer, skier, and motorsports enthusiast, he built the camera with the desire to capture life as you live it.
  2. And for many, poker is such an exciting and essential part of their life that they want to share with others.
  3. That brings us to the question; can you bring your GoPro to a poker tournament? The quick answer is yes, most of the time.

There are lots of professional poker players who often vlog their poker games and show off their techniques to their followers, or other starting poker players looking for advice. These vlogs usually last through 10-30 minutes of playing but you can also vlog as much of your trip, your games, and your experiences as you want.

  • Some people do it regularly, or even as a full-time job.
  • For instance, Andrew Neeme and Brad Owen are two of today’s most popular poker vloggers.
  • But here’s the tricky part: bigger casinos in most parts of the world usually don’t like it when people with cameras come in and start pointing to everyone.

This is the case for huge tournaments like the World Series of Poker (WSOP). Since this is where some of the greatest poker players of all time gather, such as the likes of Daniel Negreanu and Phil Ivey, the rules and expectations for participants are much stricter.

For instance, the WSOP’s poker tournament rules state that those without an official media credential are prohibited from using any electronic device that can capture video or audio footage during tournament play, whether or not you’re involved in a hand. Violating this could subject you to penalties and potential disqualification.

You also cannot use a cell phone while playing, so scratch off that option from your list of filming methods. No phones or electronic devices can be placed on a poker table, and answering a phone call requires you to step away from the game. That said, you might have a better chance at filming during events and tournaments that are much smaller than the WSOP.

The key is to ask for permission beforehand and to only use small, unobtrusive devices, such as your GoPro, a small vlogging camera, or your cell phone. You can lean your device on the poker table and set the camera angle so that your cards are properly seen. Just be sure to inform your tablemates that you’re only recording your gameplay.

You could also opt for a GoPro head strap, which will allow for easier filming and playing. So, in short, yes. You can bring your GoPro and use it to record your gameplay in some poker tournaments. Often, these are smaller competitions with a much laxer set of rules on the recording.
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How do I keep track of poker winnings on my taxes?

You Have to Report All Your Winnings – Whether it’s $5 or $5,000, from the track, an office pool, a casino or a gambling website, all gambling winnings must be reported on your tax return as “other income” on Schedule 1 (Form 1040) (opens in new tab),
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How do I file taxes for poker?

Do I Have to Report Gambling Winnings to the IRS? – The IRS says: “Gambling winnings are fully taxable and you must report the income on your tax return.” That covers lottery winnings, raffles, horse races, and casinos. Cash and the cash value of any prizes you win must be reported.
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Do online poker sites report to IRS?

Do online casinos report winnings to the IRS? – It depends on if you’re playing at licensed US online casinos or offshore casinos AND what games you’re playing. Offshore casinos that operate outside of US jurisdiction will not report winnings to the IRS,

  1. If you’re playing at a state-licensed online casino (ie.
  2. In a state with legal online gambling sites like Nevada, New Jersey, Pennsylvania, or Indiana) then the casino will report any video poker or slot machine win over $1,200, which you should receive form W2-G for reporting.
  3. Casinos don’t report winnings on table games unless you win $600 or more and 300x your wager,

NOTE: You’re still legally responsible for declaring your winnings to IRS whether or not they get reported.
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Do you need a Licence to host a poker night?

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How To Record Online Poker Games

The Gambling Commission has recently warned pubs not to try to circumvent rules on poker by hosting ‘private’ games. The popularity of poker as a game has grown enormously in recent years. The position on playing poker in pubs changed when the Gambling Act 2005 came into force.

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It is important that anyone wishing to stage a poker game in licensed premises knows what is legal. The Commission has updated its guidance note on poker in pubs to cover this. Background: The Gambling Act 2005 The Act permits equal chance gaming (including poker) on licensed premises without the need to apply for a licence but subject to certain statutory restrictions.

The Act applies to premises which have a bar and where there is no requirement that alcohol is only served with food. Statutory Restrictions Poker can be played in pubs but the following statutory conditions apply:

Fixed limit of £5 stake per person per game; Maximum daily stake or prizes £100; Maximum weekly stake or prizes £500; Prohibition on any levy or deductions from stakes or prizes; Prohibition on linking games between premises; No participation fee may be charged; Children and young persons (under 18 years of age) must be excluded.

If you breach the statutory conditions you may lose your entitlement to offer gaming. The exemption permitting equal chance gaming in a pub can be removed by the licensing authority where gaming has been carried out in breach of the requirements. The most likely sanction for breaching these provisions therefore is a review of your premises licence.

  1. You will also commit an offence and would be liable on conviction to up to 51 weeks imprisonment and or a fine of up to £5,000.
  2. Private gaming The Gambling Act 2005 also permits poker to be played without a licence or the statutory requirements above applying but only in very limited circumstances.
  3. For example, the Act permits ‘private’ gaming.

Some pubs have allowed high stakes poker to be played in a room hired by a group of friends or a ‘member’s club’ – and claimed that this is private gaming and therefore not subject to the statutory restrictions set out above. The Gambling Commission has recently warned pubs and clubs not to try to claim private gaming is taking place as a way of trying to avoid the statutory limits on stakes, prizes and fees applying.

It must take place in an area which is not accessible to the public, normally a private dwelling, hostel, hall of residence etc. Private gaming can potentially take place in the function room of a hotel or pub if hired by a member’s club as long as access is not available to the public. However, it must be a genuine member’s club – issuing temporary membership is not likely to get around the problem. In The Gambling Commission’s view acquiring membership to take part in a “private” event or acquiring membership shortly before an event is unlikely to mean that these individuals are not members of the public. Beware – Membership status is not allowed to be used to circumvent the law ; No charge may be made for participation even a voluntary one. There may be no entrance fee or other charge e.g. a requirement to buy a drink from the bar in order to be allowed to play; No amounts may be deducted from stakes or prizes as this is regarded as a charge for participation; No profits may be made.

For further details see The Gambling Commission guide on private gaming Gambling Commission Code of Practice The Gambling Commission has published a code of practice for equal chance gaming (including poker) in clubs and premises with an alcohol licence.

  1. The Code has no legal force but is admissible in criminal proceedings and is taken into account by the Commission and in other tribunal proceedings.
  2. If you intend to host poker games in your pub you should be familiar with this Code of practice.
  3. In a pub compliance with the Code is the responsibility of the Designated Premises Supervisor who is known as the Gaming Supervisor.

The Code includes the following:

all playing cards and other equipment to be provided by the premises; requirement for a procedure to prevent under age gambling; requirement to keep records of stakes and winnings; games organised by management should be played with poker chips not cash; for management organised games rules should be displayed or available; a duty to exclude customers who breach statutory conditions.

The Code of Practice can be found here For any questions arising from this article, please contact Christopher Ainsworth at [email protected] Click here to read: A guide for gambling in pubs The content of this page is a summary of the law in force at the present time and is not exhaustive, nor does it contain definitive advice.
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Can you get in trouble for playing online poker?

Online real-money poker play is legal within the borders of states that have specifically legislated it. Online bets between legal states also seem to be valid, as the Department of Justice guidance implies that poker is exempt from the Wire Act of 1961.
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Can I record myself playing a game?

Final Words – If you’re annoyed by how to record yourself playing video games on PC, your anxiety should be eliminated now. You can always try these 3 methods mentioned in this post to record yourself while playing games. However, if you prefer a high-quality screen recorder without time limit for gameplay for free, iTop Screen Recorder is surely the best option for you.

Record online meetings, YouTube videos, live streams, video tutorials, etc. Easily capture screen with no watermark and time limit. Support audio-only recording for music, lectures, conversations, and other sounds. Record HD video smoothly with advanced hardware acceleration.

Powered by : How to Record Yourself Playing Video Games on PC in 3 Ways
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Can you run a poker game legally?

Underground poker is poker played in a venue not operating in accordance with local gaming laws, In many jurisdictions, an unlicensed poker game may still be legal if the game is played in a residence, the host does not profit, and/or the buy-in fees do not exceed a certain threshold.

  • Even if the game itself is illegal, in some jurisdictions it is not illegal to just play such a game.
  • In such cases, only the organizers of such games are civilly and/or criminally responsible.
  • The zeal from local law enforcement agencies also varies by location.
  • Often, players and hosts of underground poker games worry more with being targeted for armed robbery than being targeted with legal action.

An underground poker room usually generates revenue by collecting rake or other house fees while not being a licensed gaming operator. Organized crime groups, such as the American Mafia, often host, provide protection for, or are otherwise involved in high-stakes underground poker games.
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Do casinos allow video recording?

It’s not illegal, but casinos don’t allow you to do it because many of their customers don’t want to be filmed or photographed playing. If you try it you won’t be arrested, but you probably will be ejected.
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Is Excel Online still free?

Use Word, Excel, PowerPoint and more for free on the web.
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Is there an AI for poker?

Pluribus is a computer poker player using artificial intelligence built by Facebook’s AI Lab and Carnegie Mellon University. Pluribus plays the poker variation no-limit Texas hold ’em and is ‘the first bot to beat humans in a complex multiplayer competition’.
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Does the IRS audit gamblers?

Ever wonder why some tax returns are eyeballed by the Internal Revenue Service while most are ignored? Short on personnel and funding, the IRS audited only 0.70% of all individual tax returns in 2016. So the odds are pretty low that your return will be singled out for review.

And, of course, the only reason filers should worry about an audit is if they are fudging on their taxes. That said, your chances of being audited or otherwise hearing from the IRS escalate depending on various factors, including your income level, the types of deductions or losses you claim, the business you’re engaged in, and whether you own foreign assets.

Math errors may draw IRS inquiry, but they’ll rarely lead to a full-blown exam. Although there’s no sure way to avoid an IRS audit, these 17 red flags could increase your chances of unwanted attention from the IRS.1. Making a Lot of Money- Although the overall individual audit rate is only about one in 143 returns, the odds increase dramatically as your income goes up.

IRS statistics for 2016 show that people with an income of $200,000 or higher had an audit rate of 1.70%, or one out of every 59 returns. Report $1 million or more of income? There’s a one-in-17 chance your return will be audited. The audit rate drops significantly for filers making less than $200,000: Only 0.65% (one out of 154) of such returns were audited during 2016, and the vast majority of these exams were conducted by mail.

We’re not saying you should try to make less money — everyone wants to be a millionaire, Just understand that the more income shown on your return, the more likely it is that you’ll be hearing from the IRS.2. Failing to Report All Taxable Income- The IRS gets copies of all of the 1099s and W-2s you receive, so be sure you report all required income on your return.

  1. IRS computers are pretty good at matching the numbers on the forms with the income shown on your return.
  2. A mismatch sends up a red flag and causes the IRS computers to spit out a bill.
  3. If you receive a 1099 showing income that isn’t yours or listing incorrect income, get the issuer to file a correct form with the IRS.3.
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Taking Higher-Than-Average Deductions- If the deductions on your return are disproportionately large compared with your income, the IRS may pull your return for review. But if you have the proper documentation for your deduction, don’t be afraid to claim it,

  • There’s no reason to ever pay the IRS more tax than you actually owe.4.
  • Running a Small Business- Schedule C is a treasure trove of tax deductions for self-employed people.
  • But it’s also a gold mine for IRS agents, who know from experience that self-employed people sometimes claim excessive deductions and don’t report all of their income.

The IRS looks at both higher-grossing sole proprietorships and smaller ones. Special scrutiny is also given to cash-intensive businesses (taxis, car washes, bars, hair salons, restaurants and the like) as well as to small business owners who report a substantial net loss on Schedule C.

Other small businesses also face extra audit heat, as the IRS shifts its focus away from auditing regular corporations. The agency thinks it can get more bang for its audit buck by examining S corporations, partnerships and limited liability companies. So it’s spending more resources on training examiners about issues commonly encountered with pass-through firms.5.

Quick Poker Tip #1 – Record Yourself Online

Taking Large Charitable Deductions- We all know that charitable contributions are a great write-off and help you feel all warm and fuzzy inside. However, if your charitable deductions are disproportionately large compared with your income, it raises a red flag.

  1. That’s because the IRS knows what the average charitable donation is for folks at your income level,
  2. Also, if you don’t get an appraisal for donations of valuable property, or if you fail to file Form 8283 for noncash donations over $500, you become an even bigger audit target.
  3. And if you’ve donated a conservation or façade easement to a charity, chances are good that you’ll hear from the IRS.

Be sure to keep all of your supporting documents, including receipts for cash and property contributions made during the year.6. Claiming Rental Losses- Normally, the passive loss rules prevent the deduction of rental real estate losses. But there are two important exceptions.

  • If you actively participate in the renting of your property, you can deduct up to $25,000 of loss against your other income.
  • This $25,000 allowance phases out as adjusted gross income exceeds $100,000 and disappears entirely once your AGI reaches $150,000.
  • A second exception applies to real estate professionals who spend more than 50% of their working hours and over 750 hours each year materially participating in real estate as developers, brokers, landlords or the like.

They can write off losses without limitation. The IRS actively scrutinizes rental real estate losses, especially those written off by taxpayers claiming to be real estate pros, It’s pulling returns of individuals who claim they are real estate professionals and whose W-2 forms or other non-real estate Schedule C businesses show lots of income.

Agents are checking to see whether these filers worked the necessary hours, especially in cases of landlords whose day jobs are not in the real estate business. The IRS started its real estate professional audit project several years ago, and this successful program continues to bear fruit.7. Taking an Alimony Deduction- Alimony paid by cash or check is deductible by the payer and taxable to the recipient, provided certain requirements are met.

For instance, the payments must be made under a divorce or separate maintenance decree or written separation agreement. The document can’t say the payment isn’t alimony. And the payer’s liability for the payments must end when the former spouse dies. You’d be surprised how many divorce decrees run afoul of this rule.

Alimony doesn’t include child support or noncash property settlements. The rules on deducting alimony are complicated, and the IRS knows that some filers who claim this write-off don’t satisfy the requirements, It also wants to make sure that both the payer and the recipient properly reported alimony on their respective returns.

A mismatch in reporting by ex-spouses will almost certainly trigger an audit.8. Writing Off a Loss for a Hobby- You must report any income you earn from a hobby, and you can deduct expenses up to the level of that income. But the law bans writing off losses from a hobby.

To be eligible to deduct a loss, you must be running the activity in a business-like manner and have a reasonable expectation of making a profit, If your activity generates profit three out of every five years (or two out of seven years for horse breeding), the law presumes that you’re in business to make a profit, unless the IRS establishes otherwise.

Be sure to keep supporting documents for all expenses.9. Deducting Business Meals, Travel and Entertainment- Big deductions for meals, travel and entertainment are always ripe for audit, whether taken on Schedule C by business owners or on Schedule A by employees.

A large write-off will set off alarm bells, especially if the amount seems too high for the business or profession, Agents are on the lookout for personal meals or claims that don’t satisfy the strict substantiation rules. To qualify for meal or entertainment deductions, you must keep detailed records that document for each expense the amount, place, people attending, business purpose, and nature of the discussion or meeting.

Also, you must keep receipts for expenditures over $75 or for any expense for lodging while traveling away from home. Without proper documentation, your deduction is toast 10. Failing to Report a Foreign Bank Account- The IRS is intensely interested in people with money stashed outside the U.S., especially in countries with the reputation of being tax havens, and U.S.

  • Authorities have had lots of success getting foreign banks to disclose account information.
  • The IRS also uses voluntary compliance programs to encourage folks with undisclosed foreign accounts to come clean — in exchange for reduced penalties.
  • The IRS has learned a lot from these amnesty programs and has been collecting a boatload of money (we’re talking billions of dollars).

It’s scrutinizing information from amnesty seekers and is targeting the banks they used to get names of even more U.S. owners of foreign accounts. Failure to report a foreign bank account can lead to severe penalties, Make sure that if you have any such accounts, you properly report them.

  1. This means electronically filing FinCEN Form 114 by April 15 to report foreign accounts that combined total more than $10,000 at any time during the previous year.
  2. And taxpayers with a lot more financial assets abroad may also have to attach IRS Form 8938 to their timely filed tax returns.11.
  3. Claiming 100% Business Use of a Vehicle- When you depreciate a car, you have to list on Form 4562 the percentage of its use during the year was for business.

Claiming 100% business use of an automobile is red meat for IRS agents, They know that it’s rare for someone to actually use a vehicle 100% of the time for business, especially if no other vehicle is available for personal use. The IRS also targets heavy SUVs and large trucks used for business, especially those bought late in the year.

That’s because these vehicles are eligible for favorable depreciation and expensing write-offs. Be sure you keep detailed mileage logs and precise calendar entries for the purpose of every road trip. Sloppy recordkeeping makes it easy for a revenue agent to disallow your deduction. As a reminder, if you use the IRS’s standard mileage rate, you can’t also claim actual expenses for maintenance, insurance and the like.

The IRS has seen such shenanigans and is on the lookout for more.12. Taking an Early Payout from an IRA or 401(k) Account- The IRS wants to be sure that owners of traditional IRAs and participants in 401(k)s and other workplace retirement plans are properly reporting and paying tax on distributions.

  1. Special attention is being given to payouts before age 59½, which, unless an exception applies, are subject to a 10% penalty on top of the regular income tax.
  2. An IRS sampling found that nearly 40% of individuals scrutinized made errors on their income tax returns with respect to retirement payouts, with most of the mistakes coming from taxpayers who didn’t qualify for an exception to the 10% additional tax on early distributions.

So the IRS will be looking at this issue closely. The IRS has a chart listing withdrawals taken before the age of 59½ that escape the 10% penalty, such as payouts made to cover very large medical costs, total and permanent disability of the account owner, or a series of substantially equal payments that run for five years or until age 59½, whichever is later.13.

  • Claiming Day- Trading Losses on Schedule C- People who trade in securities have significant tax advantages compared with investors.
  • The expenses of traders are fully deductible and are reported on Schedule C (investors report their expenses as a miscellaneous itemized deduction on Schedule A, subject to an offset of 2% of adjusted gross income), and traders’ profits are exempt from self-employment tax.

Losses of traders who make a special section 475(f) election are fully deductible and are treated as ordinary losses that aren’t subject to the $3,000 cap on capital losses. And there are other tax benefits. But to qualify as a trader, you must buy and sell securities frequently and look to make money on short-term swings in prices.

  1. And the trading activities must be continuous.
  2. This is different from an investor, who profits mainly on long-term appreciation and dividends.
  3. Investors hold their securities for longer periods and sell much less often than traders.
  4. The IRS knows that many filers who report trading losses or expenses on Schedule C are actually investors.
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So it’s pulling returns and checking to see that the taxpayer meets all of the rules to qualify as a bona fide trader.14. Failing to Report Gambling Winnings or Claiming Big Gambling Losses- Whether you’re playing the slots or betting on the horses, one sure thing you can count on is that Uncle Sam wants his cut.

Recreational gamblers must report winnings as other income on the front page of the 1040 form. Professional gamblers show their winnings on Schedule C. Failure to report gambling winnings can draw IRS attention, especially if the casino or other venue reported the amounts on Form W-2G. Claiming large gambling losses can also be risky,

You can deduct these only to the extent that you report gambling winnings (and recreational gamblers must also itemize). But the costs of lodging, meals and other gambling-related expenses can only be written off by professional gamblers. The IRS is looking at returns of filers who report large miscellaneous deductions on Schedule A Line 28 from recreational gambling, but aren’t including the winnings in income.

  • Also, taxpayers who report large losses from their gambling-related activity on Schedule C get extra scrutiny from IRS examiners, who want to make sure these folks really are gaming for a living.15.
  • Claiming the Home Office Deduction- The IRS is drawn to returns that claim home office write-offs because it has historically found success knocking down the deduction.

Your audit risk increases if the deduction is taken on a return that reports a Schedule C loss and/or shows income from wages. If you qualify for these savings, you can deduct a percentage of your rent, real estate taxes, utilities, phone bills, insurance and other costs that are properly allocated to the home office.

That’s a great deal. Alternatively, you have a simplified option for claiming this deduction: The write-off can be based on a standard rate of $5 per square foot of space used for business, with a maximum deduction of $1,500. To take advantage of this tax benefit, you must use the space exclusively and regularly as your principal place of business.

That makes it difficult to successfully claim a guest bedroom or children’s playroom as a home office, even if you also use the space to do your work. “Exclusive use” means that a specific area of the home is used only for trade or business, not also for the family to watch TV at night.16.

Engaging in Currency Transactions- The IRS gets many reports of cash transactions in excess of $10,000 involving banks, casinos, car dealers and other businesses, plus suspicious-activity reports from banks and disclosures of foreign accounts. So if you make large cash purchases or deposits, be prepared for IRS scrutiny,

Also, be aware that banks and other institutions file reports on suspicious activities that appear to avoid the currency transaction rules (such as a person depositing $9,500 in cash one day and an additional $9,500 in cash two days later).17. Claiming the Foreign Earned Income Exclusion- U.S.

Citizens who work overseas can exclude on 2016 returns up to $101,300 of their income earned abroad if they were bona fide residents of another country for the entire year or they were outside of the U.S. for at least 330 complete days in a 12-month span. Additionally, the taxpayer must have a tax home in the foreign country.

The tax break doesn’t apply to amounts paid by the U.S. or one of its agencies to its employees who work abroad. IRS agents actively sniff out people who are erroneously taking this break, and the issue keeps coming up in disputes before the Tax Court.

Among the areas of IRS focus: filers with minimal ties to the foreign country they work in and who keep an abode in the U.S.; flight attendants and pilots; and employees of U.S. government agencies who mistakenly claim the exclusion when they are working overseas. Article was written by: Joy Taylor and published in Kiplinger on March 5, 2017.

Original article here
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Does the IRS know about gambling winnings?

Do Casinos Report Gambling Earnings to the IRS? – Yes, but there are certain thresholds that must be eclipsed to trigger a casino to report winnings. The threshold at which gambling winnings must be reported to the IRS varies based on the type of game.
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How do taxes work for online poker?

Paying Taxes on Poker Winnings in the United States Money won playing at a digital poker room is the same as money won at a live poker room, and that means that it is subject to all applicable reporting and taxes. Players from the United States should definitely plan to pay taxes on any winnings from poker sites.
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How do poker players report income?

If you’re a professional gambler – Does the tax picture change if you don’t just dabble in gambling, but actually make your living at it? Yes and no. Deductions from losses that exceed your winnings still are not allowed. The U.S. Supreme Court ruled in 1987 in the case of Commissioner vs.

  • Groetzinger that deductions for losses cannot exceed the income from winnings.
  • If you regularly pursue gambling with the intention of making a profit, then it’s effectively your day-to-day job.
  • Rather than claiming your winnings as “other income” on your Form 1040, you can file Schedule C as a self-employed individual,

This is an important distinction, because you can deduct your other costs of doing business on Schedule C, ultimately reducing your taxable income. For example, you can deduct the costs of:

Magazines, periodicals, and other data that relate to your gambling profession A portion of your Internet costs, if you wager online Meals and travel expenses if you attend tournaments

The downside of going pro is that you’ll have to pay self-employment tax (Social Security and Medicare) on your winnings. Let a tax expert do your investment taxes for you, start to finish. With TurboTax Live Full Service Premier, our specialized tax experts are here to help with anything from stocks to crypto to rental income.
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Can you write off poker losses?

Claiming gambling losses – Gambling losses are indeed tax deductible, but only to the extent of your winnings and requires you to report all the money you win as taxable income on your return. The deduction is only available if you itemize your deductions, If you claim the standard deduction, then you can’t reduce your tax by your gambling losses.
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Do you have to claim online poker winnings?

Canadian Income Tax Act and the Source Concept of Income – Section 3 of Canada’s Income Tax Act determines that for income to be taxed under the Tax Act, it must come from a “source”. The Tax Act provides office, employment, business, and property as the typical sources, but indicates that this list is not exhaustive.

A mixture of legislation and case law have provided guidelines as to what types of income correspond with each source. Under Canada’s Income Tax Act, the characterization of income type is determined by source, and not vice versa, For example, an increase in the value of a taxpayer’s real property, on disposition, may be considered income from the business source or the property source.

This determination, of course, dictates the tax consequences. Canadian tax legislation and case law have remained strict on the source concept of income. Generally, if the income does not fall within a recognized source, it is beyond the scope of the Act, and therefore not taxable.
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Can you record yourself playing poker in casino?

Filming is not allowed in casinos unless you have special permission. If you want to write down hands in your phone for later study and evaluation, then this is an excellent idea. This will help you plug any ‘leaks’ in your game and improve your win rate.
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How do you record your own game?

Xbox Game Bar is built into Windows 11 so you can capture videos and screenshots while playing PC games. While you’re playing a game, press the Windows logo key + G on your keyboard to open Xbox Game Bar. If you have an Xbox 360 or Xbox One controller plugged in to your PC, press the Xbox button.

Select Record from now (the circle) to start a clip, then Stop recording (the square) to end it. Select Take screenshot (the camera icon) to take a picture of what’s happening in the game. For full-screen PC games, use Windows logo key + Alt + G to start and stop recording. To edit a clip, select the Xbox button to open the Xbox app and then select Captures, How To Record Online Poker Games

Use Xbox Game Bar to capture game clips and screenshots on Windows Xbox Game Bar is built into Windows 10 so you can capture videos and screenshots while playing PC games. While you’re playing a game, press the Windows logo key + G on your keyboard to open Xbox Game Bar. If you have an Xbox 360 or Xbox One controller plugged in to your PC, press the Xbox button.

Select Record from now (the circle) to start a clip, then Stop recording (the square) to end it. Select Take screenshot (the camera icon) to take a picture of what’s happening in the game. For full-screen PC games, use Windows logo key + Alt + G to start and stop recording. To edit a clip, select the Xbox button to open the Xbox app and then select Captures, How To Record Online Poker Games

Use Xbox Game Bar to capture game clips and screenshots on Windows
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