Tax News Now Ep. 18 - From the Casino Floor to the Locker Room: What CPAs Must Understand About Gambling Losses and NIL Taxation with Brandon Lagarde

In this episode of Tax News Now, Mark Gallegos and his guest, Brandon Lagarde of Eisner Advisory Group LLC, explore the rapidly evolving tax landscape surrounding two major money-in-sports trends: the explosion of legalized sports gambling and the rise of NIL (Name, Image, and Likeness) income for college athletes. The discussion covers key compliance issues practitioners need to understand, including the new gambling loss limitation rules, reporting of winnings, recordkeeping challenges, and the tax complexities of cryptocurrency used for wagering. The episode also highlights the unique tax challenges facing college athletes and encourages CPAs to take a proactive advisory role as both areas continue to grow. Earn CPE by listening to this podcast through a Becker Prime CPE subscription. Listen to this episode through your Becker LMS platform to complete practice questions, pass the final exam, and earn CPE credit. Already a Becker Prime CPE customer?  Login here. [https://cpelearning.becker.com/] Have access to Becker CPE through your employer? Earn CPE credit for this podcast however you consume Becker CPE, either through your company's LMS or via the Becker platform. Not sure where to log in? Check with your CPE admin. Learn more about CPE Podcasts from Becker: https://www.becker.com/cpe/becker-podcasts