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Don’t Let Uncle Sam Take 30% Tax From Your Pockets

If you decide to take a vacation down south and intend on doing a little betting, there’s no need to let the American government take all of your winnings in the form of a 30% tax on gambling. It is possible to get a large chunk of your winnings back but you need to understand the process you’ll have to go through to get a bigger share of the pie.

First off, you need to keep your records straight when you’re gambling in the United States, whether you’re from Canada or another part of the world. You can help whittle away at the amount of money the IRS gets by claiming your losses against your winnings but it’s important to keep receipts for everything to prove the numbers you present.

Knowing the rules can help immensely and that means you should have a company on your side that knows its way around the 30% tax on gambling. For example, working with people that can notarize your ID as agents of the IRS is a definite bonus for getting your claim filed and money back in your wallet.