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1  Economy / Gambling / Re: How to get tax refund for retired gamblers? on: November 12, 2014, 11:07:30 AM
Hi all,
I really wasn't sure that this was an entire new concept for you'll.
Anyways , I'll explain.
This mainly focuses on the visitors to US. i.e the non US residents who win in gambling or a big jackpot. For example You win $10000 in a gambling . Now the Casino will apply 30% withhold tax , which will leave you back with $7000 as per IRS. So there is a way to get back this 30% without any complications. Only the thing required is the form 1040NR, collect it before leaving the casino. There are many tax refund services who can help you with this.
There is no such thing as retirement in gambling.

Yes exactly.... This means retirement is a stage where people want to enjoy. You gamble , you win and you lose a 30 % of the win, it really sounds bad. Hence just a bit emphasizing for the retired people who love gambling .
2  Economy / Gambling / How to get tax refund for retired gamblers? on: November 11, 2014, 10:29:17 AM
Retirement is the best time you can enjoy. It is a time which is completely used for one's happiness. So if you love gambling and you face issues related to tax this post may help you.
If you have planned a trip and you want to go for a gambling, first of all know the rules of that area. Identify if it is a legal or illegal gambling. And Once you check these things you can go for it. And after you winning, see to it that you take form 1040NR which talks about the losses due to tax. The casino provides you with this form. So see to it that you collect it from them. Then comes the role of Tax recovery professionals. They can help you with the rest of the process. On an average it may take 12-15 weeks to get back the refund. Enjoy your retirement without the worry of losing tax on gambling.
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