Does anyone know the process and any tips for a Canadian that wishes to play blackjack in the US casinos? I've played small stakes in Seattle, for a weekend. The bankroll has grown and I am curious how the procedure will be, say if I have over 15k in chips and a CTR has to be filled out.
Will casinos hold 30% of the winnings? Is there a tax form Canadians fill out to retrieve some of the 30%?
Thanks for reading.
Be very *freaking* careful about this. If you do get above 10,000 USD and you cash out incremental amounts over time (not specified time allotted under Federal law), you could run the risk of being investigated for structuring. Last thing you want is to explain to the Feds you were avoiding a CTR because you wanted to keep your name anonymous against the casinos. Legal jeopardy is major -EV!Originally Posted by Meistro123
@Nitram : if you are in need of legal advice, contact a US attorney that specializes in Title 31 regulations et al. Explain to them your situation and they will give you their legal opinion on the matter.
Last edited by lij45o6; 04-24-2020 at 04:46 AM.
Basically how it works is that Canada has a tax treaty with the USA saying that Canadians who gamble in the states will be taxed like Americans. So you basically have to pay tax on any money you win gambling in the USA.Is there a tax form Canadians fill out to retrieve some of the 30%?
This is true if you win a "global" amount, like a tournament (being in a casino or at chess , etc.) or a slot jackpot, NOT for regular winnings at the BJ tables. Believe me, been doing this for over 25 years.
Cashing out chips is not a problem, except they may want to see ID. So basically, you collect the chips and fill a CTR if asked for, then you declare the money (over $10K) at the customs.
G Man
and insure you declare at final port of exit from the United States, and again declare at first port of entry into Canada.
To appear more informed, with nothing to hide, download the appropriate currency declaration forms for both Canada and the US prior to travel, and have forms pre filled out both Canada and US customs.
You may still be required to show the cash which may be counted.
This is a grey area... If you're American, they absolutely require that you declare to both customs, US while leaving and Canada when entering. As Canadian Citizen, every time I declared upon reentering Canada, they always said to me that by only declaring to them I was coming with over $10K, it was ok...
G Man
Might be okay for Canada, however, your funds are definitely subject to seizure if you don’t declare to US customs prior to departure from the US.
What this means is that you make a currency declaration at the final airport of departure from the Unuted States - which obviously will have a customs office. If driving, you should also stop on both sides of the border.
By having your declarations filled out in advance, as previously noted, you will project a familiarity with rules and regulations which should help you.
As a side note, from airports, you will first make your currency declaration prior to going through security. If by chance, Security asks about the declaration, the6 can call customs to confirm. Also doesn’t hurt to take a picture of the declaration after customs stamps it.
Last edited by Freightman; 04-25-2020 at 01:35 PM. Reason: To add last paragraph.
True if you fly because of TSA. If you drive, never will the canadian customs make a story for not declaring at US border. You drive your car and reach the canadian customs, then you declare. As a Canadian Citizen they will never ask you to make a U turn and go back to US customs to declare. Things loook different for US citizens because they're leaving "their" country with more than they are allowed without declaring it. This could pause problems for both customs, US and Canadian.
Anyway, better be safe than sorry and declare at both customs!
G Man
According to this article it looks like G Man might be correct. This link appears to be a recovery service like Gronbog mentioned.
https://ustaxrecovery.com/the-canada-us-tax-treaty/
Last edited by Midwest Player; 04-25-2020 at 09:59 PM.
Email: [email protected]
You may take a look at this link and FAQ no.10
https://www.amexpattax.com/wp-conten...Q-TS2018.pdf10.
Q: Are there any games that cannot be included in my total losses?
A: You may NOT include losses for Blackjack, Baccarat, Craps, Roulette, or Big 6 Wheel as they are not taxed.
G Man
From that link :
" For Canadians (and other non-resident aliens), the gambling winnings tax is 30% of the total win."
The only way to recover withheld winnings is to demonstrate losses to cover the money withheld. Canadians (while gambling in the US of A) are taxed on net winnings over the calendar year, so if you win 10,000 in a poker tournament and lose $10,000 playing blackjack then your profits are $0 and you can recover the money that has been withheld.
I think G Man's confusion stems from the fact that blackjack winnings are not withheld by the casino, like a slot win would be. That in no way absolves you of your tax liability to the IRS. And if you are going to cheat on your taxes, I would strongly advise you against bragging about it on a public forum.
It also isn't exactly true that Canadians do not pay taxes on gambling. The position of the CRA is that professional and semi professional gamblers must file and pay taxes on their winnings. Historically they have been unable to collect in court, because the court is very careful to not allow ordinary Canadians to write off gambling losses as a business expense, but theoretically professional and semi professional gamblers can be taxed on their winnings. The sticking point is that the CRA must prove that the gambler in question has a winning system, a trivial task when it comes to winning blackjack players.
Last edited by Meistro123; 04-25-2020 at 11:12 PM.
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