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The Chip Board Archive 02

Re: Year end Tax Question
In Response To: Year end Tax Question ()

It sounds like your friend got a very bad deal. Unless he expects to have significantly more income this year than last he is better off claiming it as 2000 income. Otherwise he pays withholding taxes 12 months too early and loses use of that money for 12 months. My accountant always tells me to keep my money as long as possible. Of course if he can prove significant gambling loses to offset this win he is OK (well kind of <G>).

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