Stop in for a cup of coffee

[memike]

The 800 mill is what you get from the 1.6 billion jackpot.
Reality is the thousands of old friends and relatives you haven't heard from in years that suddenly show up at your door

I heard that the 800 million would still be taxed, but that must be just state taxed..

 

[71340Duster]

The 800 mill is what you get from the 1.6 billion jackpot.
Reality is the thousands of old friends and relatives you haven't heard from in years that suddenly show up at your door

File your claim anonymously then disappear to paradise : )

 

[71340Duster]

I heard that the 800 million would still be taxed, but that must be just state taxed..

Fed's get 37 percent : (

 

[memike]

File your claim anonymously then disappear to paradise : )

Now there's a thought, done everyday from what I see on TV, movies and such, sure it goes on and not in the news..

 

[One Bullet Barney]

I heard that the 800 million would still be taxed, but that must be just state taxed..

Depends on if you take the cash option or annuity.
Take the lump sum around 27% then another 10%

When you file income taxes . Higher tax racket, I' mean bracket That's just federal.

 

[dukeboy440]

The 800 mill is what you get from the 1.6 billion jackpot.
Reality is the thousands of old friends and relatives you haven't heard from in years that suddenly show up at your door

This is why you claim it via a trust. And then make damn sure your wife understands to keep her mouth shut. Then you move to a new state or country and disappear

 

[One Bullet Barney]

File your claim anonymously then disappear to paradise : )

Depends on the state. Some allow it some dont.

 

[71340Duster]

I have a Powerball ticket in my wallet from when it just became 1 billion dollars, haven't even looked at it which is probably fine lol!

 

[71340Duster]

Depends on the state. Some allow it some dont.

Crazy, I think WA does and I sure would

 

[One Bullet Barney]

This is why you claim it via a trust. And then make damn sure your wife understands to keep her mouth shut. Then you move to a new state or country and disappear

Unless your almost ex wife bought the winning ticket. Been there done that.

 

[dukeboy440]

Depends on if you take the cash option or annuity.
Take the lump sum around 27% then another 10%

When you file income taxes . Higher tax racket, I' mean bracket That's just federal.

Depends. That the lump sum at 800-1 billion, lose 40 percent of that in taxes. So that leaves you what, 500 million, take 5 to 10 million in cash, put the rest into a Roth IRA spread out over multiple ETFs like the Dow Jones or S&P500 that pay dividends, live off the 5-10 million in cash for the first 5 years . After 5 years, all those dividends would be tax free.

 

[memike]

Depends on if you take the cash option or annuity.
Take the lump sum around 27% then another 10%

When you file income taxes . Higher tax racket, I' mean bracket That's just federal.

Depends on the state. Some allow it some dont.

Oh ! No wonder i seen in many videos I need to hire a lawyer... but I can't do that till Monday....

 

[dukeboy440]

Unless your almost ex wife bought the winning ticket. Been there done that.

Well can’t help ya there haha

 

[71340Duster]

Unless your almost ex wife bought the winning ticket. Been there done that.

Oh boy, that sucks!

 

[dukeboy440]

Oh ! No wonder i seen in many videos I need to hire a lawyer... but I can't do that till Monday....

Right but in the meantime while you’re waiting, shop the private islands for sale off the Florida coast. And set up an LLC holding corp for 100 bucks , use it to buy the island and to be the holder of the trust you use to claim the lottery.

 

[dukeboy440]

If you can’t tell, this has been a topic at the work water cooler for YEARS. We used to chip in and buy lotto tickets every month or so. And being we had engineers and even lawyers on our team, this discussion of what to do if we ever won, came up all the dang time

 

[memike]

Need to ask about handing 50 million to each of my two sons, if thats a down fall for them and me..

 

[halifaxhops]

Need to ask about handing 50 million to each of my two sons, if thats a down fall for them and me..

Morning Daddy!

 

[dukeboy440]

Need to ask about handing 50 million to each of my two sons, if thats a down fall for them and me..

Simple. Do NOT give it to them. If you “give” it to them, it’s a gift in the IRS eyes, which is taxed at 36 percent or higher . Plus then the state gets involved.

However, setting up a trust fund with them each as a beneficiary, completely avoids the gift tax and is 100 percent legal under the tax code. Hence why all your rich people set that up for their kids. From Bezos, to Trump, to most any Hollywood actor, the trust fund is the key to legally moving the money and avoiding taxes.

 

[One Bullet Barney]

Oh ! No wonder i seen in many videos I need to hire a lawyer... but I can't do that till Monday....

If you state requires you to identify yourself go as a transvestite vampire alien for any photo news articles
I have the costume I can send you. Only used once.

 

[71340Duster]

If you state requires you to identify yourself go as a transvestite vampire alien for any photo news articles
I have the costume I can send you. Only used once.

I didn't know that anyone could make a harder turn than Hoppy....I stand corrected lol!

 

[71340Duster]

Hope Seahawks don't sleep on Panthers then will go into 49ers to play for number 1 seed next weekend

 

[One Bullet Barney]

I didn't know that anyone could make a harder turn than Hoppy....I stand corrected lol!

Hoppy has a shelf of shame in his garage from items I've sent him.
We are totally brothers from another mother

 

[71340Duster]

Hoppy has a shelf of shame in his garage from items I've sent him.
We are totally brothers from another mother

Well you can blame me for the thong shirt lol!

 

[MOPARMITCH]

And Why do youos guys think I spent so much time in VN ????