Dime Supers & Tax Reporting/Withholding (From 10/15 ATR question)

[jwkniska]

Originally Posted by dellinger63

or convert them to vouchers at a machine and then go cash.

great point!

[Buckpasser]

bottom line is the gov't sucks. These IRS figures are way out of date and belonged to a different era. The taxable amounts should be raised significantly.

[letswastemoney]

If you can avoid this by just turning them into vouchers....what's the point of taxing then?

[Scav]

Originally Posted by letswastemoney

If you can avoid this by just turning them into vouchers....what's the point of taxing then?

Only the 'non' tax tickets. If you have a tax ticket and put it into the machine, it will tell you to go to the IRS window.

What they are saying is this. Lets say you punch a P4 ticket 8 times, it hits, and it pay $543 per $1.

If you were to walk to the teller with all 8 tickets, at some tracks you would have to fill out a W2 because they would equate to over the $602 threshold

If you were to walk to 8 different machines, you wouldn't have to worry about that.

Originally Posted by Scav

Only the 'non' tax tickets. If you have a tax ticket and put it into the machine, it will tell you to go to the IRS window.

What they are saying is this. Lets say you punch a P4 ticket 8 times, it hits, and it pay $543 per $1.

If you were to walk to the teller with all 8 tickets, at some tracks you would have to fill out a W2 because they would equate to over the $602 threshold

If you were to walk to 8 different machines, you wouldn't have to worry about that.

Exactly, I have never had a teller try to pull that on me here, as he would never get my business again.(tips) Thats why i use the machines on most of my bets,less tipping. Unless i tip over the machine because it swallowed my voucher and thats a whole nother story.