do i need to actually save my gas receipts?

zombies kill · #1 09-27-2006, 12:21 PM

when i file as a pro and deduct the mileage to and from the casino, do i actually have to keep the receipts for the gas? i would only need them if i was audited i assume, and i cant see the irs disputing the deductions if the trip is accounted for in my poker records. i dont see how they would differentiate between "poker gas" and "non-poker gas" from a receipt. if the gas was charged to a credit card, would the card statement be adequate?

sorry if this is a dumb question to some, im tax-ignorant.

Guthrie · #2 09-27-2006, 12:29 PM

Mileage is probably better than trying to separate out poker gas from non-poker gas. It's a fixed distance between your house and the casino, easier to keep up with, and likely gets you a bigger deduction.

This assumes, of course, that travel expense to the casino is deductible. That's another issue.

zombies kill · #3 09-27-2006, 12:31 PM

can you clarify when it is and it isnt? i really have no idea what the guidelines are

Guthrie · #4 09-27-2006, 01:26 PM

[ QUOTE ]
can you clarify when it is and it isnt? i really have no idea what the guidelines are

[/ QUOTE ]
Sorry, I'm not a tax accountant, or any kind of accountant, so that I cannot do.

I would think, however, that if you make trips to your local casino every day, or at least frequently, and claim this is as your employment, then the IRS might reasonably take the position that going to your place of employment at the casino is no different than going to your place of employment at Wal-Mart.

As with all other tax questions, seek advice of a professional, especially if there's serious money involved.

zombies kill · #5 09-27-2006, 02:44 PM

um... i could basically tell you didnt know anything reliable by your first post. if you are purely speculating, please do not contribute to the post. especially when it comes to something like taxes. yeah, im not posting this expecting some concrete info from strangers, but i was looking for a response from ding-dong-yo or someone similar who knows what theyre talking about.

its like when 1-2 players chime in on what they think a high stakes poster did wrong in his 100-200 hand. it hurts a lot more than it helps.

Freerollin` · #6 09-27-2006, 02:52 PM

[ QUOTE ]
um... i could basically tell you didnt know anything reliable by your first post. if you are purely speculating, please do not contribute to the post. especially when it comes to something like taxes. yeah, im not posting this expecting some concrete info from strangers, but i was looking for a response from ding-dong-yo or someone similar who knows what theyre talking about.

its like when 1-2 players chime in on what they think a high stakes poster did wrong in his 100-200 hand. it hurts a lot more than it helps.

[/ QUOTE ]

Says the guy whose custom title is "Flaming Idiot"

zombies kill · #7 09-27-2006, 04:15 PM

yeah youre right. i definitely see the correlation. good job.

*grendel* · #8 09-27-2006, 04:25 PM

You are consdered Self-employed and your "tax home" is your residence. Driving to a casino to "work" is legitimate, and you will be allowed to use the standard mileage deduction as opposed to actual expenses. The Standard mileage rate is $0.445/mile. Just keep a detailed log for when, where, and how far (there and back)in case you get audited. On another note, if you "work" out of your home you should also be able to claim a home office deduction on your return, but that's another issue.

Good luck

zombies kill · #9 09-27-2006, 04:28 PM

thank you. i appreciate it

broiler · #10 09-27-2006, 05:52 PM

Be careful with this answer. In order to deduct the expense, the home must be his principal place of business. If the casino is your principal place of business, then the auto expenses are a commuting expense and therfore not deductible. A self-employed person does not necessarily have their home as the principal place of business.

The best example of this is a salesperson. The salesperson is driving locally all day long and has no regular office location. The trip to the first location and home from the last location are considered commuting expenses.

I would say that claiming a home office deduction is almost required in order to have the auto expenses legitimized. The reason here is that the principal place of business test uses the rules for deducting a home office.