Search

Richard Lustig on TVReply
You probably don't spend enough on lottery tickets to use his advice. 1) Save losing tickets to use when filing taxes If you win a $10,000 prize or more your losing lottery tickets may help push your loses to more than the standard deduction of ~$7,000 which you get normally. 2) Don't buy quick picks If you're buying 25 or more tickets per drawing, then you want to avoid duplications of 4 numbers combinations to increase your coverage and you can't guarantee that buying QPs. 3) Wh
Apr 28, 2011, 1:10 pm - RJOh - Lottery Discussion Forum

Do you save your tickets?Reply
Yes, I save my tickets. like most of you, I was doing so, in case I hit a second or third place prize. (first would be better) All this year I have been saving and logging my losing tickets, Heres something that I never considered untill recently, that you may want to think about. like for instance, I don't know if you are aware but the powerplay option on the Powerball is an automatic 10 for this Sats draw!!... it wouldn't take much of a hit to push me over the 600 dollar mark, forc
Mar 29, 2008, 9:42 am - LottoAce - Lottery Discussion Forum

How much have you WON?Reply
Twice hit straight Pick 4's in MD. for $5,000 each past two years, several $400-$600 range in Keno and Bonus match Five. I always reccommend keeping losing tickets cause of the tax man. You have to fill out a form for amounts over $600.00 at the place you cash in, then they send you a couple of weeks later a W2-G form for gambling winnings which you report as income on your taxes. You then can deduct up to your winning amount your gambling losses which needs to be documentable by losing tickets
Sep 1, 2006, 7:16 pm - jarasan - Lottery Discussion Forum

pts vs physical playingReply
Should you find someone to mail you tickets and you should win I hope you have concocted a good story to tell lottery officials how you happen to live in China and came to be in possession of a winning lottery ticket for an American lottery. You see if it were legal to send/receive lottery tickets in the states then people everywhere could get tickets mailed to them for any lottery game here in the states but the government said no we don't want that happening so they passed a law that prohibits
Feb 19, 2006, 12:18 pm - four4me - Lottery Discussion Forum

Richard Lustig on TV
Yesterday, Apr 27th, Richard Lustig was on the Rachel Ray show, pushing his book revealing 3 of his big tips : 1) Save losing tickets to use when filing taxes 2) Don't buy quick picks 3) When buying scratch-offs, buy 10 in a row of the same kind I didn't learn anything fom him but maybe someone else will. I'm sure you can catch the show on-line, too.
Apr 28, 2011, 9:38 am - miss9 - Lottery Discussion Forum

Lottery, for fun or for profit?
I'm not a gambler nor do i sell my tecqnique.I do this for fun,my predictions are not all posted, if i posted my predictions you would win . I have spent countless hours and a couple of years trying to figure this out, i'm happy i found a solution that gets better all the time.Your goal as a player should be 1.know what numbers to play and when to play them, there is a secret and none of it has to do with luck.Narrow down your play,you must stick to your numbers once you have the solution.Be hon
Oct 25, 2010, 3:07 am - basil19 - Lottery Discussion Forum

Questions about tax!Reply
1. 35% applies to the federal IRS taxes. The top bracket for federal purposes is above $375,000. Since most jackpots fall in this range....you have to pay the top rate. Keep in mind you don't have to pay the whole 35% right away. The lottery automatically withholds 25% of it before they even write you a check. So you are only responsible for the remaining 10% debt. The IRS also makes sure you pay that debt via estimated taxes which are due quarterly in the year they are incurred. So you can't ju
May 10, 2009, 5:45 pm - SpanaUnlimited - Lottery Discussion Forum

Saving losing tickets?Reply
KY Floyd we can always count on your wisdom in these matters. Maybe it was because i didn't know any better after all it was 12 years ago when i won the money maybe back then i didn't save my tickets. The guy that does my taxes is pretty smart. He always managed to get me the most money back of any of the other tax prepairers i had. Regardless of anything what matters is one can only claim so much loss on a winning ticket i forget what percent. Maybe what he said was keep all your loosin
May 19, 2009, 1:57 pm - four4me - Lottery Discussion Forum

Legally avoid the gift tax?Reply
Someone is going to shoulder the tax burden--why not give enough that will cover taxes. After a certain level, the Gift Tax is 46%, same as Inheritance Tax for anything over $1,000,000 (Lifetime Umbrella Exclusion) per person Liferime ($2.000,000 perperson lifetime if the gifting is done by a married couple), although this may be one of the two or three years that either the Gift Tax or the Inheritance Tax is in abeyance. I DO know that, as the law is currently written, the year 2010 in uni
Aug 14, 2007, 4:41 pm - AuntiePat - Lottery Discussion Forum

is anyone making an income from lotteryReply
Imagine what the video I'm about to show you has to do with the lottery, cause it truly does. Math is one thing, and timing, intuition, and many factors influence the outcome. One simple example is when you purchase a QP. Had you gone in the store 1 minute earlier, or later, the QP's numbers would definitely be different, save a couple of duplicate numbers that the RNG may include as it's protocol would suggest. That was a simplistic example, but there are many more that I've exp
May 5, 2013, 7:22 pm - onlymoney - Lottery Discussion Forum