Trivia Board Games – A Great Educational Tool For the Whole Family

Trivia board games are any type of game where players are asked trivia questions, and if the players answer the question correctly they will advance further in the game. There are advantages and disadvantages to this type of game.One of the many advantages of playing trivia games is that it will expand your knowledge into areas you might not otherwise explore, in a fun friendly environment which is a fantastic way to learn new things.If the same game is played on a regular occurrence, the answers may start to seem a little too familiar. So to combat this it is a good idea to have a collection of trivia games, then you will be able to rotate the different games you play. There is great range of trivia board games that are available nowadays on all kinds of subjects, for different knowledge levels.Trivia games are also a great way to teach your children new things. Children’s brains are like sponges and will absorb the general knowledge quickly. Subjects such as history, food and the business world become fun because this is an enjoyable environment for learning.A disadvantage of playing these games is that not all the players may have the same level of knowledge, making the game lopsided, with the same people always winning. However, choosing a game with a different subject matter may solve this problem. Finding a subject everyone knows a little bit about will make it more fun.The best thing about trivia board games is that they are enjoyable! A night in with friends and family taking it in turns of choosing a trivia subject, then let the banter begin.

New Tax Rules Concerning Gambling Activities

The Internal Revenue Service (IRS) has historically required that gambling winnings and gambling losses be separately accounted for. The reason for this has to do with the way gambling losses are deducted for tax purposes. Gambling losses are treated as an itemized deduction and reported on Schedule A of the individual income tax return (Form 1040). This creates a problem in the cases in which taxpayers cannot itemize (as is the case when a standard deduction is greater) or in which the taxpayer’s income exceeds a certain threshold (in which case the taxpayer loses part of their itemized deduction via a phaseout). In such cases the taxpayer does not get the full benefit of the gambling losses to offset against the gambling winnings. What the IRS is really after is the reporting and taxation of gross gambling winnings.New Tax Rule:
According to a recent tax court case (Shollengerger, TC Memo 2009-36) taxpayers are allowed to net gambling winnings during a given day with gambling losses. This is a significant setback to the IRS. As an example, imagine if you were to win $2,000 in the morning at a casino and lose $900 later that afternoon. Prior to this court case, the IRS would require that you report the $2,000 in gambling winnings and then separately itemize the $900 in gambling losses on your tax return. The court instead ruled that the taxpayer in this case was permitted to net the gambling winnings for the day and report $1,100 as net gambling winnings instead of the $2,000 gross amount, the IRS mandated. The court went on to state that this “netting rule” only applied on a daily basis. It stated that a taxpayer could not net gambling winnings and losses for the entire year.Irrespective of this change in reporting and taxation of gambling activities, there are specific accounting requirements for gambling activities. The IRS requires taxpayers to keep a diary or ledger of all gambling activities. This tax accounting requires the taxpayer to record the following information concerning various gambling activities:
1. Type of gambling activity
2. Location of gambling activity
3. Amounts won and amounts lost for every activity
4. Number of games played
5. Cost of Bingo cards purchased
6. Winnings for each Bingo card
7. Copies of Keno tickets validated by the gambling establishment
8. Copies of casino credit reports
9. Copies of casino check cashing records
10. Records of the number of races bet on (horse, harness, dog)
11. Amount of racing wagers
12. Amount of racing winnings and losses
13. Record of slot machine number
14. Record of slot machine winnings by date and time per machine
15. Table number played (blackjack, craps & roulette)16. Table credit card data including where credit was issuedAll of the above items can be supplemented by receipts, tickets etc.