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$1.6 Billion Lottery Winner Will Face Huge Taxes, Possible Lawsuits – Robert W. Wood

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With no lotto winner, the combined Mega Millions and Powerball jackpots stand at an astounding $2.2 billion. Yes, billions. The Mega Millions jackpot has reached $1.6 billion while the Powerball pot is up to $620 million. These world record astonishing numbers seem even more likely to brew big potential liabilities. Of course, everyone should know that taxes on winning tickets are an unavoidable downside. But who wouldn’t want this tax problem? Even after taxes, there’s lots left over, right? First there is the cash v. annuity question, but taxes will come out of either one. Lottery winnings are taxed……

Read more: https://www.forbes.com/sites/robertwood/2018/10/23/1-6-billion-mega-millions-lottery-winner-faces-huge-taxes-possible-lawsuits/#2ce009408411

 

 

 

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Do This If You Win The $1 Billion Lottery – Zack Friedman

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What would you do if you won $1 billion? There’s almost $1 billion up for grabs in the latest Powerball and Mega Millions jackpots. Here’s what you need to know and what to do next if you strike it rich. If you win the lottery, your natural inclination may be to let everyone know that you hit the jackpot. Imagine how many long lost cousins and childhood friends suddenly may appear to celebrate your newfound wealth. However, your best move is to stay anonymous………

Read more: https://www.forbes.com/sites/zackfriedman/2018/10/15/do-this-if-you-win-the-1-billion-lottery/#45ae2a35260d

 

 

 

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