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Financial Tid-Bits

Tax implications of legal gambling

With the rise of legal sports betting and online gambling, it’s crucial to understand the IRS reporting requirements associated with your winnings. Discover the thresholds for different types of gambling and how to report your earnings accurately. Learn how to avoid potential penalties and comply with IRS regulations.

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Tax

Alternative Minimum Tax basics for individuals

Understanding the Alternative Minimum Tax (AMT) can be complex, but it’s essential for strategic tax planning. This article guides you through the process of calculating your AMT and offers useful strategies for minimizing its impact.

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