Articles About tax on winnings

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Gambling Tax Guide: Can You Write Off Gambling Losses?

Kateryna July 21, 2025 11:50:08

Can you write off gambling losses? This is a common question for gamblers new and experienced, and the answer is more complicated than many people think. This simple guide will help you understand when and how you may be able to write off your gambling losses, what records you need to keep, and what the rules mean for you.

Why Gambling Winnings are Taxed in the US but not Canada

Toni May 7, 2014 15:07:07

US offers a promising gambling experience but comes with a price, while Canada offers less but doesn’t take away winnings. Gambling has been a popular activity for centuries across the globe. However, since the modernization of society, some nations have adopted certain laws pertaining to gambling. The US imposes certain restrictions on players, which effectively […]