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His and Hers: Wisconsin spouses win identical lottery jackpots
Will he quit? That $350,000 is before taxes, remember. That's maybe $215,000 that they will each see. If they invested it all at 5%/yr, they would have an income of approx $21,500/yr.
Unless they are already getting social security or a pension, that isn't enough for two people to retire on. Don't forget, that $21,500 is earned income and will be taxed also, so they won't have all of that to live on either.
It will certainly help out, but you need a minimum of $500,000 to invest in order f
Aug 21, 2008, 8:14 am - Badger - Lottery News
a "tax" question for those in the know
I see your point agree. Of course it's always good to determine what's best for you. I already said that anyone who wins a large amount of money should contact a tax professional. I was only getting frustrated at the debate Stack was starting, since this isn't a matter of I know you don't. The IRS has a rule and it doesn't leave too much up to interpretation unless someone wishes to become argumentative and try to twist its meaning. Stack, in FL you only have a total of 60 days after the date of
Aug 13, 2008, 7:56 pm - justxploring - Lottery Discussion Forum
a "tax" question for those in the know
justxploring,
Sounds fair ... 25% with a Social Security number, 30% without one. By the way, you earlier said, quote, Anyway, you only pay tax on your prize once, so who cares? You never pay it both years.
Actually, I think EVERYONE should care. If I won a major jackpot in the last two months of this year, the first thing I'd do is visit a tax consultant. And, I'd ask him/her to give me an educated guess on whether taxes for me would go up or whether they'd go down in 2009. I'd claim it
Aug 13, 2008, 7:38 pm - AlecWest - Lottery Discussion Forum
a "tax" question for those in the know
Alec, that might depend on the state lottery. The IRS dictates that you must deduct at least 25% if the person is a US citizen with a social security number and 30% if he is not. Some people here have told me that their state deducts tax if the prize is over $600. In Florida it's $5,000. (which is the IRS rule) In any case, all prizes $600 and over are reported to the IRS.
I was very sure I was correct when answering the original question. But just to make sure I was up-to-date on my tax kno
Aug 13, 2008, 3:01 pm - justxploring - Lottery Discussion Forum
EXCEL Qre: FREQUENCY and COUNT functions...
Curtis C
although i don't know about an array maybe you can develop this simple formula from this spreadsheet
download link
note:
the file renamed from *.7z into *.zip due to security on LP website, use 7zip software to extract the files and please support the author for further development
good luck
Aug 5, 2008, 8:20 am - sysp34 - Mathematics Forum
What would you do if you actually won?
I would hire a honest reputable lawyer to claim my winnings anonymously.
I would NOT tell my family and friends - that would open-up a can of worms.
I would allocate 10% to charities, but canvassing would disqualify.
I would NOT pay off my mortgage - there are other advantages to having a mortgage
I would live just as I do now, but I would the funds to establish my long-term financial security by investing in property.
Jul 29, 2008, 5:40 am - myturn - Lottery Discussion Forum
What's the most cash you ever seen?
By now I thought someone would have mentiooed the $1,000,000 on display at the Horseshoe in Las Vegas that people get their pictures taken in front of.
Of course, it is encased in glass, so does it still count?
When I worked in casinos, one night a Hawaiin fellow rolled the dice for over 3 hours. The table bled so much (lost money) that security came down from the cage with cash to buy player's chips off of them so we could pay other players.
The game lost over $750,000 (could have lost
Jul 24, 2008, 5:45 pm - Coin Toss - Lottery Discussion Forum
Lottery-winning doorman gets the girl but might lose job
Yes, that was my first reaction. Was he wearing or driving her? (although the dictionary uses exhibiting as one definition)
Regarding his job, if he was showing up for work everyday and performing his duties in the same manner as before he won the money, they have no legal right to deny him his benefits IMO. Although I hope he gives it to charity, I think he earned his unemployment compensation, unless there's another reason he was fired. Let's say I won or inherited millions. I wouldn't flau
Jul 24, 2008, 10:36 am - justxploring - Lottery News
Lottery-winning doorman gets the girl but might lose job
It depends on the person, unfortunately (or fortunately for entertainment purposes ) we have a lot of good ol'boys and braggarts who enjoy the attention and act out like idiots, at least until everything comes crashing down.
It stinks that for a lot of states they don't give you the chance to claim anonymously, some do and if you don't take it then you're a damned fool. Michigan does, the only exception is on the Mega Millions lottery, which stinks. There must be some arrangement where t
Jul 24, 2008, 3:59 am - DC81 - Lottery News
Key Dream
keys - means uexpected happiness and security - 148-769
sister - you will win in game of chance - 262-920
yellow - means sueccess in all of your undertaking - 336-810
stepfather - means ill treatment from your employer - 368 378
green - means good luck and much prosperity - 361-715
good luck and blessed be
Jul 16, 2008, 1:12 pm - morningstar2008 - Mystical Forum
