Tax time & that unfortunate dose of reality

[BreakEven]

Doing taxes, and have 2 W2G's from 1 of my 2 trips last year. Normally that would be a thing. But then I start doing the math on my wins/losses. For each trip, I track them separately across the various alliances. My losses at just one of the alliances, from just the first visit, more than covered my W2G wins. I didn't do the math on the other alliances/visits, because I don't need THAT much reality on a Sunday morning.

I will keep trying to convince myself that the free rooms & entertainment value from those times are worth as much (or more) than the actual $$$ amount spent.

Who else is with me in this fantasy land?

 

[mickefc]

How sweet it is not to worry about any taxes on gambling and to just walk away with all my winnings fully intact

 

[Flowers]

Breakeven, I am with you on the reality part though I have looked at the full picture. (I am gathering my 2016 info for my accountant now.) It's one of the reasons why I made a commitment to smarter play and maximizing (while not chasing) comps this year.

 

[Breeze147]

A worry I will never have.

 

[Joe Strummer]

Somehow ?.......I got to my acc't early this year - had 'em done in February.
Forgot all about it by now.
*
Free rooms.............yeh ?......are they really free ?

 

[hotreds]

One of these days I have to see what kind of room I can get with the money I likely would lose gambling. Then again, a free cheap room with gambling probably is better than a suite with no gambling.

 

[nostresshere]

i was determined the play lower limit machines this year (2017) to avoid w2-gs. Because of them, I can not take the standard deduction, and it impacts my medicare and SS. Damned if my last trip did not result in 3 of them. @#^$@&#$%&