Gambling and Taxes

Do you like to play the slots a couple of times a year in Black Hawk? Do you go to Vegas a few times a year to play some serious Black Jack? Or are you one of the much-smaller groups of people who consider themselves to be professional gamblers?                 Whatever your approach to gambling, […]

You Must Retain Proof of Your Contributions

Documentation of Charitable Contributions   The substantiation requirements for monetary donations of less than $250 remain fairly informal under Sec. 170(f) (17): The donor should maintain a bank record of the contribution or written communication from the donee stating the name of the donee organization, as well as the date and dollar amount of  the donation. […]