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(20,482 posts)In_The_Wind
(72,300 posts)Sekhmets Daughter
(7,515 posts)So, how many numbers have you played?
Good Morning!
In_The_Wind
(72,300 posts)The 1st words outta my mouth this morning was Reinvest all of last nights's winnings!
[img][/img] While we were driving around yesterday afternoon looking for my accountant's new office ... we spotted a perfect house for sale overlooking the Hudson River.
He said We'll move in there.
[img][/img]
Sekhmets Daughter
(7,515 posts)Thanks for the coffee!
In_The_Wind
(72,300 posts)I've decided not to buy a private jet but I'll charter one for your flight.
Sekhmets Daughter
(7,515 posts)A visit would be lovely...the chartered jet is most considerate of you!
Autumn, I would like to visit in the Autumn!
In_The_Wind
(72,300 posts)I'll be a snowbird again.
krispos42
(49,445 posts)Well, I guess I'll be paying my $2 idiot tax again today.
In_The_Wind
(72,300 posts)krispos42
(49,445 posts)...I get hours of fantasizing.
sharp_stick
(14,400 posts)I know every time I do it that it's just a tax on people who are bad at math but like you the few hours of fantasizing are worth the investment.
krispos42
(49,445 posts)I'll have to be ready to buy one of the houses down the street, get myself a new car, and take flying lessons.
Earth_First
(14,910 posts)I'm in for $2 for a chance at half a bill...
In_The_Wind
(72,300 posts)TreasonousBastard
(43,049 posts)and if you do win, that's the total of annuity payments over 20 years, or whatever the payout time is. If you do that, though, and you die, your heirs have to pay taxes on the whole thing.
So, if you take the cash, which is the sensible thing to do, you only get the net present value, which is a lousy $200 million or so. And you'll get hit for at least 50 mill in federal taxes. Wotta ripoff!
But, it's not all that bad-- $150 mill is more than Donald Trump actually has.
onecent
(6,096 posts)DO NOT PAY THEIR PORTION YEARLY...This world is upside down...
TreasonousBastard
(43,049 posts)the first time she filed after making it big.
Every penny of her income was taxable earnings and she hit the roof when she saw the bill. Not that she was complaining about living on what was left, but she noted the really, really rich don't pay taxes on the money they don't earn by working...
Earth_First
(14,910 posts)Some states do not have state tax appropriation on lottert winning if I remember correctly. One would only be liable for the federal taxes.
Regardless, I'd pay the taxes on a thousand bucks and walk away happy...
TreasonousBastard
(43,049 posts)but the federal bite is big enough.
And, yes, should I ever have a $200 million windfall, taxes would be a very small problem.
onehandle
(51,122 posts)In_The_Wind
(72,300 posts)[img][/img] And ... sail away [img][/img]
Jeff R
(322 posts)Love that huge house that over looks the Hudson.
What a view that place has.
WCGreen
(45,558 posts)In_The_Wind
(72,300 posts)Like the old days.
olddots
(10,237 posts)we all like candy and coffee to wash it down with
In_The_Wind
(72,300 posts)Moondog
(4,833 posts)something worth having. Good luck to all.
In_The_Wind
(72,300 posts)In the old days I gave away more than we make in a year lately.
It's nice to dream.
Thanks for the Good luck wish.
HipChick
(25,485 posts)sweet!
IrishEyes
(3,275 posts)That is over a $21 million a year before taxes. I think I could live on that. I don't need the $350 million upfront. Most of the money would go to charity anyway. Yes, I bought a ticket. I know I won't win but it is fun to dream.
Earth_First
(14,910 posts)The ticket frenzy during these enormous jackpots gets to almost irrational levels at this point..
A HERETIC I AM
(24,360 posts)I read that tickets were selling at something like 125,000 per second (If I remember correctly) when combining all the states that have Powerball.
That's at $2.00 per ticket, so a quarter mil every damned second was being dropped!
In_The_Wind
(72,300 posts)It's time for me to go sailing again. I'll hire a crew!