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Best of Howard Schwartz

Gaming Guru

 

Pro draft preview, tax guide interesting references

2 April 2009

Avid fans of the pro football draft might prepare themselves for The Big Day with Pro Football Weekly's 2009 Draft Preview (180 pages, paperbound,$19.95), as it projects each team's needs, position rankings and in-depth player reports.

Compiled by Nolan Nawrocki and the Pro Football Weekly staff, you'll see the positive, negative and a grade for each player at each position. How many of these players might help a franchise rebuild or suddenly become a rare impact player in their rookie season always remains a question. You'll even be alerted to players with a possible drinking problem, which players lack durability or motivation at times and where a height or weight disadvantage might be important.

Overall, a fine guide to alert you to how intelligent a draft certain teams conducted and how a team might surprise in 2009.

The 6th edition of The Tax Guide for Gamblers by Roger and Yolanda Roche (64 pages, spiralbound,$29.95) might be just in time for those who wonder how much they'll owe or get in a refund in regard to gambling winnings and losses in the previous tax year.

There are four sections to this comprehensive and respected guide:

The first involves tax basics with an emphasis on keeping records of your winnings and losses, whether it be sports betting, table games, slots, keno, bingo.

Did you know casino comps are considered income from gambling? What about foreign tourists and withholding? There are also special rules for poker tournaments you should be aware of.

A second section describes the rules for "recreational players" and how to report winnings and losses, and the third section focuses on professional players including an interesting discussion of "the case" which established the rules for pros.

There are tax benefits for professional gamblers but you've got to know how to file properly. Then there's the proper way to deduct expenses; what proposition players should know; and the area of partnerships and corporations.

The final section focuses on tax history and tax laws, both judicial and administrative.

Starting at page 34, for the convenience of players, there are sample forms for every level player. The book also shows you how to complete the time-saving forms.

The book should be a help to both players and their friendly accountants, but the tax deadline is just over the horizon, so don't delay on getting this important book unless you're asking for some sort of extension to get your stuff in order at the last minute.

Howard Schwartz
Howard Schwartz, the "librarian for gamblers," was the marketing director for Gambler's Book Club in Las Vegas, a position he held from 1979 to 2010, when he retired. Author of hundreds of articles on gambling, his weekly book reviews appear in numerous publications throughout the gaming industry.

Howard Schwartz Websites:

www.gamblersbook.com
Howard Schwartz
Howard Schwartz, the "librarian for gamblers," was the marketing director for Gambler's Book Club in Las Vegas, a position he held from 1979 to 2010, when he retired. Author of hundreds of articles on gambling, his weekly book reviews appear in numerous publications throughout the gaming industry.

Howard Schwartz Websites:

www.gamblersbook.com