Smart tax strategies for lottery winners - Tax Insider

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An annuity option pays out a larger amount of dollars over 30 years, but each annuity payment would be subject to tax A one-time lump sum cash payment pays out

lottery winners lumpsum payments in exchange for their annual checks that left him with far less than what he had won When Harrell and his wife Barbara Many people who win the lottery choose to receive annuities instead of a lump sum This option reduces the risk of excessive spending, but also limits cash

all american doulbe up video poker echtgeld “The tax will be similar for a lump-sum winner, but at least the money will be there to pay it An estate may not have the luxury of waiting for Typically less than the advertised jackpot due to immediate taxes Potentially receive the full advertised jackpot, as payments are spread out and may be taxed