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Thread: Couple of questions about my taxes

  1. #1
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    Couple of questions about my taxes

    So I won two grand at Hollywood Casino in July and they took the state tax out at the casino and gave me a w-9 winnings statement at the casino to file when I do my taxes. How much am I going to have to pay for this when I do my taxes. I live in Ohio but won in Indiana, does that affect anything and what will I have to do? File in both states? I will make around 15 grand in 2013, does that affect anything? Can they just deduct whatever I owe from my regular tax return or will I have to pay cash up front before my return comes? Thanks!
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  3. #2
    Member PedroBourbon's Avatar
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    Re: Couple of questions about my taxes

    I've done this before and I'm not a CPA obviously, but it's treated just like regular income and based on your deductions, etc, like most people you'll pay somewhere between 25-35% of it in taxes. Maybe there's a CPA on this forum who can be more precise.

    A good CPA can really cut down on what you pay to "the man." A few years ago I was down to paying 16-19% of annual income in taxes.
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    Potential Lunch Winner Dom Heffner's Avatar
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    Re: Couple of questions about my taxes

    What you pay is going to be based on your taxable income. The rate will vary based on that amount.
    If you're watchin' a parade, make sure you stand in one spot, don't follow it, it never changes. And if the parade is boring, run in the opposite direction, you will fast-foward the parade. --Mitch Hedberg

  5. #4
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    Re: Couple of questions about my taxes

    Did you do any other gambling this year? Because you can deduct your gambling losses against your gambling winnings.

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  7. #5
    Potential Lunch Winner Dom Heffner's Avatar
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    Re: Couple of questions about my taxes

    Quote Originally Posted by Boston Red View Post
    Did you do any other gambling this year? Because you can deduct your gambling losses against your gambling winnings.
    Good point- Though only if eligible to itemize deductions.
    If you're watchin' a parade, make sure you stand in one spot, don't follow it, it never changes. And if the parade is boring, run in the opposite direction, you will fast-foward the parade. --Mitch Hedberg


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