Refunds for Slot Machine Winnings
Slot machines are the most popular type of game at U.S. casinos. Canadians and other non-U.S. citizens who travel to places like Las Vegas and other gambling destinations spend hours at a time trying to hit that big jackpot. It’s a fun game that requires simple luck and a lot of patience—contrary to what some may think, there is no strategy to winning at a slot machine. But there is a strategy for getting back any taxes taken off money you might win at the slots.
How Are Slot Machine Winnings Taxed?
Taxes on slot machine winnings begin once a gambler has won at least $1,200. Once that milestone is reached, 30% of those earnings of $1,200 or more are taxed. So if you are fortunate enough to win $3,000 on a slot machine, $900.00 of that will be taxed.
Eligibility for a Slot Machine Winnings Refund
This is where it helps to hire professionals like Refund Management Services. So many factors are involved in whether or not you are eligible for a slot machine winnings refund. A very simple way of explaining this is calculating your total same-year slot machine winnings. If that number is higher than your total losses, then you can be eligible for a partial winnings refund. Again, other factors come into play, which is why hiring professionals like Refund Management Services is highly encouraged, especially since we don’t get paid unless you get a refund. This essentially removes any risk to you as a client.
How to Reclaim Taxes on Your Slot Machine Winnings
The easiest way to answer this question is to hire professionals. Refund Management Services has already helped thousands of Canadians and other non-U.S. citizens reclaim taxes on slot machine winnings. They are experts in this field with a portfolio to prove it. You’ve already taken enough risks with your money by gambling. Let Refund Management Services take the risk out of reclaiming your taxes.