As some of you may or may not know, I am pleased to announce that I have an exclusive partnership with Rotogrinders to provide tax preparation and consulting services for the RG community. Good news is the 1099-MISC Forms are beginning to trickle in and I’m gladly accepting new clients. I am a CPA based out of suburban Philadelphia with a tax practice focusing on DFS, poker players and Horse Racing. I have years experience with the latter and that’s where I received most of my Hobby vs. Business Income experience. I can work with anyone throughout the United States and have very likely prepared your State and/or Local Tax returns.
You can also ask basic questions on this thread I would be happy to answer. To remind you, more specific questions to your overall income and expenses situation may require a professional opinion from a tax preparer or CPA. Again, you can contact me for those services if you wish. If you currently have an accountant (common for Grinders with small businesses), I would be happy to corroborate with them to prepare an accurate return for you for DFS purposes.
There are no significant changes for this season compared to last for DFS purposes. Buzzing around the new Administration is the possibility of major tax reform with potentially significant changes in tax rates, brackets and deductions. They have no effect for your 2016 tax return and not likely for your 2017 return (rarely are retroactive) but I have been monitoring the situation closely. As we have seen with legislation regarding DFS, there are multiple competing interests at work and “tax reform” could be minimal, if anything. I would wait and see until the law is codified and signed. If anything changes, your situation could vary greatly.
My website is dailyfantasytaxes.com. You can contact me through there where I have a contact form and my toll free number or PM me on here
PJGuin23’s Disclaimer: I am a Certified Public Accountant licensed by the Commonwealth of Pennsylvania. Any information provided is for informational purposes only and is not intended to substitute for obtaining accounting, tax, or financial advice from a professional accountant, CPA, lawyer or other competent financial professional. Presentation of information I provide on RotoGrinders does not constitute an accountant-client relationship. Such relationship can be established by engaging in professional services privately with PJGuin23. RotoGrinders readers are advised not to act upon information I provide without seeking the service of a professional accountant well versed in your particular situation.