Tax Planning Around Your Daily Fantasy Sports Winnings

Hi, my name is Peter Kwon and I'm a licensed VA CPA. In 2019, I made roughly $109,000 playing Daily Fantasy Sports. (FanDuel and DraftKings)

In this course, we will walk through my 2019 individual tax return that has been accepted by the IRS, and I will explain in detail the best way for you to file your own 2020 tax return- so that you can pay the least amount of tax on your DFS winnings.

There are three different ways to treat your DFS income:

-Gambling Income (Usually the least favorable way to treat DFS income)

-Trade or Business (Sch C)

-Funneling income through an LLC

You can save thousands of dollars in tax by planning around your DFS winnings.

We will go over each option in more detail so that when you go to file your return (through your CPA or through a tax return preparation service such as TurboTax or H&R Block) you will know exactly what your filing options are

At the end of this course, you will learn how to successfully tax plan around your own Daily Fantasy Sports Winnings so that you are paying the least amount of tax possible.

The video is about 40 minutes in length and you'll be able to watch it as many times as you want after purchase.

If you are unsatisfied with the presentation for any reason, I am happy to provide you with a full refund.