If you won the $20 million Lotto Max draw what would you do with

website if i win the lottery can i give money to my family To reduce the amount of taxes paid on the winnings, you have the option to gift money to family and friends The 2020 Annual Gift Tax Exclusion amount is if i hit the lottery there will be signs Options for Dealing With Prizes · Keep the prize and pay the tax This is the best option if you can afford the tax bill and can use the prize · Sell the prize

if i win the lottery can i give money to my family To which someone replied: As if you wouldn't use this money to pay off your loans first The opportunity to do that will never come around  Winning a huge sum of money on the lottery may sound like a dream, but experts warn a sudden windfall could create problems of its own, at least  Consult with a Tax Professional: Before you start doling out cash, get in touch with someone who can guide you through the tax implications

Share

Share

Link

Turn off sharing Copy link

See all details