1.4B Powerball Jackpot. Sweet!Prev TopicNext Topic

• One-Day

  

  Portland, OR
  United States
  Member #145,967
  August 20, 2013
  263 Posts
  Offline
  Jan 11, 2016, 1:09 pm

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

  People are more complicated than the masks they wear in society...
• MaximumMillions

  Germany
  Member #164,595
  March 8, 2015
  803 Posts
  Offline
  Jan 11, 2016, 1:36 pm

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

  

  Fresno, California
  United States
  Member #157,849
  August 2, 2014
  3,959 Posts
  Offline
  Jan 11, 2016, 1:52 pm

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   It will roll on till Saturday.

   "We are all in this together!" 
• music*

  

  Fresno, California
  United States
  Member #157,849
  August 2, 2014
  3,959 Posts
  Offline
  Jan 11, 2016, 2:05 pm

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   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.

  

   "We are all in this together!" 
• One-Day

  

  Portland, OR
  United States
  Member #145,967
  August 20, 2013
  263 Posts
  Offline
  Jan 11, 2016, 2:22 pm

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  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.

  People are more complicated than the masks they wear in society...
• Power8411

  Australia
  Member #164,427
  March 2, 2015
  48 Posts
  Offline
  Jan 11, 2016, 9:12 pm

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  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.
• Todd

  

  50

  Chief Bottle Washer

  New Jersey
  United States
  Member #1
  May 31, 2000
  27,938 Posts
  Online
  Jan 11, 2016, 9:15 pm

  ▲▼

  <Moved to Jackpot Games forum>

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

  

  Greenville, SC
  United States
  Member #169,863
  November 4, 2015
  415 Posts
  Offline
  Jan 12, 2016, 11:05 am

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

  May the balls bounce in your favor!