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Old 01-13-2016   #46 (permalink)
aņejo
 
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Originally Posted by LilG View Post
You might want to set up a trust or an LLC, especially if you take the annuity.
If you want to share the winnings with immediate family you could set up the LLC and appoint them as officers of the corporation. Or, a trust would dictate what happens to the annuity if you die. All lawyer stuff.
That would be my luck...win and die.
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Old 01-13-2016   #47 (permalink)
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There is that possibility if someone told me I just won 1.5 billion.
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Old 01-13-2016   #48 (permalink)
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Read this article on the tax hit you'd take. Don't look to buy that Island in the Caribbean! now don't get me wrong...I'm not going to sneeze at the winnings!

Tallying the Tax Bite
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Old 01-15-2016   #49 (permalink)
way into it
 
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I won I won I won

$14! Drink is on me! One margarita, how many straws?
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Old 01-16-2016   #50 (permalink)
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Originally Posted by LB4Playa View Post
Can you imagine having a party and saying, hey who wants to see Hef?
I can imagine having a party and saying "Who want to see Hef before me and my A cups toss him out?"
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Old 01-18-2016   #51 (permalink)
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Originally Posted by westallismiles View Post
The guy spending $1,000 is an idiot. He changes his odds of winning from a 0.00000034223 % chance of winning to a 0.000171149% chance of winning.
Lotteries are just a tax for people who are bad at math!

That said, I was in Chicago last week and Wednesday we each pitched in $4 and bought some pool tickets. Would have been a disaster for my company's training department if we'd all quit at once!

Would have been awesome for one of the Canadians to win- no lottery tax in Canada!
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Old 01-19-2016   #52 (permalink)
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Originally Posted by Rissask View Post
Lotteries are just a tax for people who are bad at math!

That said, I was in Chicago last week and Wednesday we each pitched in $4 and bought some pool tickets. Would have been a disaster for my company's training department if we'd all quit at once!

Would have been awesome for one of the Canadians to win- no lottery tax in Canada!

However, I think non-citizens are taxed at a higher rate if they win.
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Old 01-19-2016   #53 (permalink)
life=playa
 
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However, I think non-citizens are taxed at a higher rate if they win.
Yes won in Vegas and was taxed at 30 % but... went through a company in Toronto that dealt with the US tax dept and had the entire amount returned minus the percentage the company charged for providing this service. So the same would most likely apply if one was lucky enough to win a lottery.
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