Last night. They are taking the lump sum option of $500,000 over $40,000 over the next 20 years.
This isn't a joke or anything like that. I saw the ticket. They went to the lottery office today and are now heading to Tallahassee to collect the lump sum.
They told me not to tell anyone, but seeing as none of you know who I am on here, I figured this would be ok. I had to tell someone.
Taxes on lottery winnings seem ridiculous. Aren't you taxed up front, then again at the end of the year?
The lottery is for suckers....except when you win.
Quote:Taxes on lottery winnings seem ridiculous. Aren't you taxed up front, then again at the end of the year?
No idea, either way, they plan on investing about $300,000 of it.
Quote:Last night. They are taking the lump sum option of $500,000 over $40,000 over the next 20 years.
This isn't a joke or anything like that. I saw the ticket. They went to the lottery office today and are now heading to Tallahassee to collect the lump sum.
They told me not to tell anyone, but seeing as none of you know who I am on here, I figured this would be ok. I had to tell someone.
Maybe they will buy you that Alualu jersey you been wanting so bad. :woot:
Quote:The lottery is for suckers....except when you win.
They told me that at the lottery office, people who had worked there for 20+ years have never seen someone win even close to that much.
Keep that in mind the next time anyone you know buys a lotto ticket.
Quote:Maybe they will buy you that Alualu jersey you been wanting so bad. :woot:
Who?
Oh yea, that bench warmer.
Id rather have a starter's jersey over a special teamers.
I'm sure it'll be 50% off at sports mania soon anyway.
Quote:Taxes on lottery winnings seem ridiculous. Aren't you taxed up front, then again at the end of the year?
I don't buy lotto tickets but used to get them as birthday and Christmas presents from my parents.
On one of the tickets, I won $10,000. I had to go to the lottery office to get a check and they withheld 35%, giving me a check for $6,500. I claimed both the money earned, as well as the taxes paid on my tax filing the following year. Which allowed me to get some of that back on my tax return.
Quote:Taxes on lottery winnings seem ridiculous. Aren't you taxed up front, then again at the end of the year?
I believe the lottery office withholds the maximum up front and any year end tax is only owed on any other income, including earnings on any amount invested of the winnings. However, if the plan is giving part to a friend or relative, that amount will be tax owed by the recipient. If that's the plan, better to co-sign the ticket and let the lottery office divide it up front. That way it's only taxed once.
Quote:I know who you are!
Won't get u far, I'm still broke.
Wait... You have a roommate?!
WOW!! Congrats to them. Awesome luck.
Quote:Wait... You have a roommate?!
Gotta be T-runt
Quote:Gotta be T-runt
Lol why? Because we were both right about Alualu?
Quote:WOW!! Congrats to them. Awesome luck.
Yea, their family was already really rich, like multi million... But hey, good for him.
Quote:Yea, their family was already really rich, like multi million... But hey, good for him.
That is usually how it turns out. The rich just get richer.
So you say your roommate's brother won $1m....so why is your roommate getting any of it? Just curious.
Quote:So you say your roommate's brother won $1m....so why is your roommate getting any of it? Just curious.
Why is my roommate getting any of it? I don't know, maybe because his brother likes him?
They own a buisness together. He's not getting a huge amount, I think he told me like $50,000 or something. Etheir way, my roommate is pretty wealthy himself, so I don't think he cared if he got any
Quote:Why is my roommate getting any of it? I don't know, maybe because his brother likes him?
Half a million dollars worth?....that's a lot of "likes".