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Were you a Super Bowl bet winner?

February 7, 2010

Congratulations to the Saints for their win in Super Bowl XLIV.

Now to the big tax question. Were you also a winner when it came to a bet on who would take home the Lombardi Trophy?

If you did pocket a few (or more) extra bucks thanks to the efforts of Drew Brees, Reggie Bush and teammates, be sure to share with Uncle Sam. Remember, gambling winnings are taxable income.

I'm sure, however, that all those ecstatic New Orleans fans who put their hearts and money on their team won't be complaining too much.

Prop bet P.S.: Well, I would have lost big on the Kim Kardashian TV shots prop bet that I mentioned yesterday. I didn't see her once.

But I would have taken in a few dollars on the Gatorade shower. Coach Sean Payton was doused with the original yellow version.

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • you would have won big. She was interviewed for about 5 mins with Reggie and some other players on the ‘news desk’ on the field after the game!

  • Ah, we changed stations pretty soon after the game ended so I missed her! Thanks for the update.

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