Episode - 9 - You might need Tax Lawyer

Episode-9- I will be talk about when you win big you might need to get a tax lawyer.

Transcript

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Okay, let me set up for the next chapter. Alright, today is Wednesday, January 2nd, 2025. We're gonna talk about chapter 8. You might need a tax lawyer when you win big. Okay. And we'll talk about um you might need a tax lawyer and ways to uh help you so you can keep most of your winnings. Um you need to always keep a record of all the times you lose for tax write-offs. Um you need to keep keep a record. Go get a tax book or something where you can write it down and try to keep the receipts when you lose. So if you when you win big, you can use that for your tax write-off, but it gotta be for that year. You can't keep them for a heck of years and try to use it, it gotta be for that year. You can always go to a horse race track and pick up the tickets off the ground that people throw away after losing. You can use them for tax write-offs too. But you know, you can act like you bought them, just go pick them up off the ground and have a record like you spent all that money to help you beat the taxes. You can um you can bet in these countries and don't have to pay little or no taxes on your winnings. So when using my formula, and you coming up big, you can go to Austria, the country Austria, Australia, Belgium, Canada, Burlingame, Berlingang, I probably pronounced that. Um, the Czech Republic, Denmark, Finland, UK, and Germany. There are the countries you can go, bet, and don't have to pay no taxes using my formula. Um, which states has no income tax in the United States? Well, you're gonna have to pay that much taxes if you win. Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington. That's not Washington, DC, that's Washington State and Wyoming. Them are the states where you can win big and you don't have to pay no income tax on your winnings. We're gonna go down to example one for sports betting tax purposes. You need a tax lawyer. That's if you win big money. Alright. Now, I'm gonna tell you, you know, you got the money to splurge and you want to want a profit. Say, for instance, you have three million dollars and you want to bet bet it on sports betting using my two-team bingo spiderweb parlay system. Remember, two team parlay can only go four ways. If you pick three out of the four, you have a 75% chance of winning, and the house has only 25% chance of winning. You would have to find three different casinos. Each of the casinos, you need to see if it's okay to bet $1 million for one ticket. Before betting, you probably need to get it in writing that if you win, you do not want to pay any taxes until taxes are due at the end of the year. So you just in case, if you win at that casino, you don't want any taxes to taken out of your winnings, so it won't be messed up, messing up your profit. Make sure you get it in writing from the casino manager so it won't be no bullshit when it's time to pay up. Use my sports button formula to help you pick three best options out of the four. For tax purposes only, one of your one million dollar tickets can win. The other two tickets are going to lose. Your two tickets that lose, you need to save and document for tax write-off purposes. When you win telecasino, you don't want to. When you win telecasino, you don't want to say wait. Hold on, I'm sorry. When you win telecasino, you don't want to pay taxes right now. You will pay taxes at the end of the year. The other two tickets you lost on, that's worth $2 million you lost, you should cover it, should be able to cover your taxes. If not, get on the payment plan with the IRS and state taxes and talk with a tax lawyer. I don't know how much in state taxes you would have to pay. You need to see how much state taxes is in your state. If your state don't have, if your state you don't have to pay state taxes, you will not have to worry about state taxes, just federal taxes. And for federal taxes, you use your other two million dollar tickets to cover what you owed Uncle Sam for federal taxes, and any other losses you have, you can use that to break even with Uncle Sam or whatever place you've been betting taxes. I mean, betting and losing to use for tax purposes. Here goes example two. You bet three million, but you lose two million. That can go towards your taxes. Your winning ticket when betting one million dollars. Plus your million dollars back, that equals three thousand. I mean three million and six hundred thousand. Okay, so one million times two point six will give you two million and six hundred thousand, and then you get your one million dollars back. That's a total of three million six hundred thousand. You will make a six hundred thousand profit off a million dollars. The two million you lost, you can cover your taxes with that and walk away like a fat cat. Yeah. Alright. Let me scratch that out. Example three. The NFL bingo spiderweb two team parlay. We went over this earlier in the chapter. You can use for the two games for the Dallas Cowboy, Tampa Bay, 49ers, Detroit. Okay. That was the two teamers. You can see with the with the 49ers and Dallas Cowboy bet, you won that bet. Walking away like a fat cat. The second ticket loss, you can use that for tax purposes. The third ticket loss, you can use that for tax purposes. The fourth ticket you didn't bet on. That's the house. If you would have lost that, that's what the house would have won. They lost. I picked three out of the four picks. Two team can only go four ways. Give me 75% chance of winning and give the casino house 25% chance of winning. And the odds are in the fate in your favor to win. Okay. So we just went over chapter 8. You might need a tax lawyer when you win big. So I just gave you a little bit of game. Off of three million. How you can make a $600,000 profit, but you gotta make sure when you make that bet, you don't want them taking nothing out and giving you your money. You need to get in and writing just in case you gotta sue them. I just hooked you up with some game right there. Alright, I'm about to end this course right here before we go to the next one.