AV_12
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- Jan 12, 2012
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New tax stuff that started today.What laws
Wait, what? Based on handle?New tax stuff that started today.
In the BBB that passe last July they changes deductions for taxes to where you can only deduct 90% of losses instead of 100. So there's a chance that if you're a NET loser you will pay taxes on phantom income. Its also based on your total handle and not deposits which would throw you into a different tax bracket possibly.
There's a couple congress people who have written bills to try and reverse it, but no momentum on anything yet.
