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1.4B Powerball Jackpot. Sweet!

Topic closed. 7 replies. Last post 1 year ago by travelintrucker.

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Portland, OR
United States
Member #145973
August 20, 2013
226 Posts
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Posted: January 11, 2016, 1:09 pm - IP Logged

I'm sure it'll hit 1.9B dallas by Wednesday nite and roll.  What say you?

"Understand... people are more complicated than the masks they wear in society... everyone is playing to win, and some people will use moral justifications to advance their side"

                                                                                                                                                          Robert Greene

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    Germany
    Member #164603
    March 8, 2015
    641 Posts
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    Posted: January 11, 2016, 1:36 pm - IP Logged

    1613M$ would make for a 1B$ cash lump sum before taxes. Bring it on.

      music*'s avatar - nw bookeep.jpg
      Happy California
      United States
      Member #157856
      August 2, 2014
      1552 Posts
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      Posted: January 11, 2016, 1:52 pm - IP Logged

      I Agree! It will roll on till Saturday.

       Chi ha danari, trova cugini. (He who has money finds many cousins.) Italian proverb

        music*'s avatar - nw bookeep.jpg
        Happy California
        United States
        Member #157856
        August 2, 2014
        1552 Posts
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        Posted: January 11, 2016, 2:05 pm - IP Logged

         Just imagine. You give your immediate neighbors the gift tax-free amount of $14,000.00. Double that when you are married. Make sure they know that this is the limit for this tax year and they will have wait until the next tax year. You will create friends. 

         Will they misunderstand and start begging for more? Then just say,"NO".

         I guess that some will and some will not. You will find out who your friends are.

         Do tell them that they will not owe the IRS anything from this gift. You will have to consult with professionals about city and state taxes on the gift.

        Group Hug

         Chi ha danari, trova cugini. (He who has money finds many cousins.) Italian proverb

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          Portland, OR
          United States
          Member #145973
          August 20, 2013
          226 Posts
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          Posted: January 11, 2016, 2:22 pm - IP Logged

          It seems every little move, insignificant as they may look/be, should be reviewed by a good tax professional.  One small mistake and there went a lot of your millions to the IRS.

          "Understand... people are more complicated than the masks they wear in society... everyone is playing to win, and some people will use moral justifications to advance their side"

                                                                                                                                                                    Robert Greene

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            New Member
            Wollongong
            Australia
            Member #164435
            March 2, 2015
            30 Posts
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            Posted: January 11, 2016, 9:12 pm - IP Logged

            ATM,the jackpot is $1.4 bill with a cash option of $868 mill.

            By any staggering amount of luck if I would win it,just for the exercise,after taking an assumed 25%* tax hit then depositing the funds in my Australian account,US$651 mill,turns instantly into AU$931,823,833.71 after clearance.

            A plus difference of AU$280,832,833!

            Overall,I would urge most Americans to migrate to Oz.At least you only pay tax on the interest earned on your savings.

            *I'm not sure how much tax would be charged to a visitor.So I allocated a loose figure.

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              Chief Bottle Washer
              New Jersey
              United States
              Member #1
              May 31, 2000
              23352 Posts
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              Posted: January 11, 2016, 9:15 pm - IP Logged

              <Moved to Jackpot Games forum>

              Please post in the appropriate forum ... thank you.

                travelintrucker's avatar - morph
                Greenville, SC
                United States
                Member #169870
                November 4, 2015
                374 Posts
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                Posted: January 12, 2016, 11:05 am - IP Logged

                I wouldn't believe it, if it did roll again.

                May the balls bounce in your favor!