Wager Mage
Wager Mage
Photo: Andrea Piacquadio
Social Security Retirement Benefits Yes. The SSA considers gambling and lottery winnings unearned income and, therefore, it must be reported to the IRS.
The NFL, after all, isn't a private company. It's a glamorized trade association, financially supported by its 32 members. It's an exclusive club...
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5 Tips To Be a More Profitable Sports Bettor Utilize Multiple Sportsbooks to Find the Best Numbers. ... Focus on Beating Smaller Markets. ......
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For entertainment reasons – because they like the feeling, to get that rush or “high”, or because it makes them feel good. For coping reasons – for...
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The first question we should ask ourselves when considering making a living playing slots, is whether anyone else does with some other form of...
Read More »Many investors focus on collecting as much Social Security retirement benefits as possible, overlooking the amount of money they’re actually keeping after taxes. Tax planning can help you determine when you should file for Social Security. In fact, there are times when it makes financial sense to take Social Security benefits early. Sure, you’ll receive less benefits, but you may lower your taxable income, potentially allowing you to keep more money in your pocket.
Gambling winnings are fully taxable and you must report the income on your tax return. Gambling income includes but isn't limited to winnings from...
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You'll win about 85 percent of the time when you stand on 20 against the dealer's 5, which is roughly a 20 percent increase over splitting. This...
Read More »Gambling winnings may increase taxes on your Social Security retirement benefits; however, they don’t affect SSDI benefits because they’re based on your work record before becoming disabled, not on your income or assets. The same is true for inheritances, lump sum settlements and rental income; they don’t impact SSDI benefits. Yet these windfalls will likely reduce SSI benefits due to the program’s strict income limitations. For 2022, a non-blind individual receiving SSI benefits may not earn more than $1,350 a month or $2,260 a month for blind individuals. There are many ways income affects your Social Security benefits. To help you stay informed, bookmark our Social Security exclusive suite of material. If you’re unsure how to proceed, seek guidance from experienced financial professionals who understand Social Security’s ins and outs and can help you think through your approach. Contact Adviser Investments anytime for assistance. We pride ourselves on being The Planner You Can Talk To. Tax and legal information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice. Personalized tax advice and tax return preparation is available through a separate, written engagement agreement with Adviser Investments Tax Solutions. We do not provide legal advice. Always consult a licensed attorney or tax professional regarding your specific legal or tax situation. Our statements and opinions are subject to change without notice. All investments carry risk of loss and there is no guarantee that investment objectives will be achieved. The Planner You Can Talk To is a registered trademark of Adviser Investments, LLC. © 2022 Adviser Investments, LLC. All Rights Reserved.
“What's a shonda?” many baffled Twitters users asked each other. Hint: it's not Shonda Rhimes. Most Yiddish speakers pronounce it as shande or...
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The short answer is yes, but becoming a professional gambler is neither easy nor without its financial perils. Gambling for a living invites a...
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Game theory optimal, or GTO poker strategy, is a strategy that seeks complete balance in the game, making your plays 100% unexploitable by your...
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A VPN, or Virtual Private Network, routes all of your internet activity through a secure, encrypted connection, which prevents others from seeing...
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