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Dec 30th, 2023
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 Re: Who does your taxes to include tournament winnings/expenses
[Re: pil,b]
#13958593
04/13/21 05:06 PM
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Joined: Oct 2013
Posts: 2,578
UTDmiller
Extreme Angler
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Extreme Angler
Joined: Oct 2013
Posts: 2,578 |
Some Tournaments pay cash haha i would say generally those are tournaments held by individuals and not a tax paying organization and dont claim income or expense
John Miller
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Re: Who does your taxes to include tournament winnings/expenses
[Re: JC Skeeter]
#13958703
04/13/21 06:12 PM
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Joined: Sep 2005
Posts: 27,571
Uncle Zeek
aka "Dad"
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aka "Dad"
Joined: Sep 2005
Posts: 27,571 |
Looking for a recommendation for someone you guys trust to do taxes to include tournament expenses and winnings etc. Yeah, me. The rules for hobby income have changed significantly in the last few years and you have to approach it as a business now. I'm a tax attorney rather than a CPA, so I don't prepare certified financial statements or the like, but do perform more services than an H&R Block type place does.
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein
Artim Law Firm, PLLC
Estate planning & tax attorney
2250 Morriss Road, Suite 205, Flower Mound, Texas 75028
972-746-0758 mobile
zac@artimlegal.com
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