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Taxes and the Big-One

Topic closed. 16 replies. Last post 2 years ago by RJOh.

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RL-RANDOMLOGIC's avatar - usafce

United States
Member #59354
March 13, 2008
3964 Posts
Offline
Posted: February 12, 2015, 5:00 pm - IP Logged

All I've heard here pertains to loosing.  There are options out there that can and will cover the 8% penalty

and still make a big profit.  It's no wonder 1% have 99% of the money.

RL

Working on my Ph.D.  "University of hard Knocks"

I will consider the opinion that my winnings are a product of chance if you are willing to consider

they are not.  Many great discoveries come while searching for something else

USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

  US Flag Trump / 2016 & 2020  

    RJOh's avatar - chipmunk
    mid-Ohio
    United States
    Member #9
    March 24, 2001
    19823 Posts
    Offline
    Posted: February 12, 2015, 5:07 pm - IP Logged

    "Next challenge I see would be offsetting those 3 remaining tax quarters with losses"

    Amen. Who wouldn't want to lose $25 million to get a deduction that will save $10 million in taxes?

    I see people talking about reducing taxes by charitable donations or investment losses all the time. With charities you're at least doing somehting beneficial, but I have the feeling that a lot of people don't realize that reducing their taxes will mean there's less money in their pocket, too.

    "I have the feeling that a lot of people don't realize that reducing their taxes will mean there's less money in their pocket, too."

    Maybe that the reason some million dollars plus prizes go unclaimed, some people would rather have nothing than have to pay out 30% of it in taxes.

     * you don't need to buy more tickets, just buy a winning ticket * 
       
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