The OFFICIAL Powerball and Megamillions thread:

[filthyjiujitsu]

Bruh what if you win and use you money to make your own lotto........

 

[antbanks81]

Hope you only have 5 friends cuz after giving away 5 M, you'd have to pay 40% in gift tax

Will you enlighten me on this gift tax? Is it nationwide? You saying I can only give away 5 milly without being taxed?

Part of me was thinking I would send anonymous cashiers checks to the people I want to give to. Now you got me thinking I need to take out all cash like Money May and just ship my gift in boxes.

 

[antbanks81]

I really would do my best to take the anonymous route, if I won.

I'd offer to pay of my parents/in-laws home and their cars. But when it comes to friends, I don't think they need to know.

I feel like living modest and having a couple of nice things will keep my and my fam under the radar of anyone knowing I won the lottery. lol.

M parents and my sister would know. That's all. Everyone else either getting a random cashiers check for $x or a vacuum cleaner box filled with cash. I would prefer people think I'm booming in my business.

I wouldn't pay off **** for anyone. Let them use the gift to make that decision. I could see giving a few people whips. That would be for those that have the same passion for cars as I.

 

[the qbz]

Inwould invute all my nt brethren to be regional owners of my new fighting league




Kindergarten kumite..... only the most elite fighting for 7 and under
Sponsored by pedialyte and osh kosh bigosh

 

[Based Jesus]

Mom's my lawyer so she'd be the first person to know. After that I'd tell my friends, known them dudes for years and trust them enough with that info. Wouldn't be the first time they learned about money I have anyways. Then I'd have a meeting with the NYC fam and tell them EXACTLY what is and isn't gonna happen. Maybe I'd tell my father, but then my brother and his mother would know and I don't trust them to not tell everyone they know. Would be hard to keep that kind of a secret from him though.

 

[suberzat1]

Fight Club huh

 

[Fozz]

M parents and my sister would know. That's all. Everyone else either getting a random cashiers check for $x or a vacuum cleaner box filled with cash. I would prefer people think I'm booming in my business.

I wouldn't pay off **** for anyone. Let them use the gift to make that decision. I could see giving a few people whips. That would be for those that have the same passion for cars as I.

Same. Immediately family and that's it.

 

[Majorbread]

Would claim using a blind trust, work my job rest of 2016

Would set up trusts for my close buddies, wouldn't give them $1M off the bat would set something up so it basically pays them like a $5K bi weekly paycheck for the rest of their lives

Same with Family, would do for all family. Would basically set aside $100M and set fam and friends up, all controlled through trusts

Would blow $100M

Would keep the rest in treasuries or savings account and just draw a $5M a year salary after that

 

[robtoofresco]

Hope you only have 5 friends cuz after giving away 5 M, you'd have to pay 40% in gift tax

Will you enlighten me on this gift tax? Is it nationwide? You saying I can only give away 5 milly without being taxed?

Part of me was thinking I would send anonymous cashiers checks to the people I want to give to. Now you got me thinking I need to take out all cash like Money May and just ship my gift in boxes.

The most you can gift someone (who is not your child) is somewhere between $10-13k w/o getting taxed.

I forgot the exact amount but I know for a fact it lies somewhere in that range.

 

[trueprada]

 Man Mistakenly Purchased Mega Millions Ticket Instead Of Powerball And Won $165Million.

https://t.co/8XdkkgKoL4

 

[xxpizzo]

man went on my lunch break to grab some snacks and lady in front of me bought $500 worth took really long lol 

 

[Extrait de Minimalisme]

Hope you only have 5 friends cuz after giving away 5 M, you'd have to pay 40% in gift tax

Will you enlighten me on this gift tax? Is it nationwide? You saying I can only give away 5 milly without being taxed?

Part of me was thinking I would send anonymous cashiers checks to the people I want to give to. Now you got me thinking I need to take out all cash like Money May and just ship my gift in boxes.

The most you can gift someone (who is not your child) is somewhere between $10-13k w/o getting taxed.

I forgot the exact amount but I know for a fact it lies somewhere in that range.

Lol, i gifted someone a total of 40k over the past year through PayPal. . Oh whales..

 

[Based Jesus]

 

 

 

Hope you only have 5 friends cuz after giving away 5 M, you'd have to pay 40% in gift tax

Will you enlighten me on this gift tax? Is it nationwide? You saying I can only give away 5 milly without being taxed?

Part of me was thinking I would send anonymous cashiers checks to the people I want to give to. Now you got me thinking I need to take out all cash like Money May and just ship my gift in boxes.

The most you can gift someone (who is not your child) is somewhere between $10-13k w/o getting taxed.

I forgot the exact amount but I know for a fact it lies somewhere in that range.

Lol, i gifted someone a total of 40k over the past year through PayPal. . Oh whales..

What the IRS don't know won't hurt them

 

[cubanref]

Got suckered into a workplace lotto pool... 8 people, 40 tickets. I don't trust these fools

 

[HEATHEN]

Will you enlighten me on this gift tax? Is it nationwide? You saying I can only give away 5 milly without being taxed?

Part of me was thinking I would send anonymous cashiers checks to the people I want to give to. Now you got me thinking I need to take out all cash like Money May and just ship my gift in boxes.

You can only give away $14K w/o it being taxed.


And if you don't pay the taxes on that money then the IRS would surely come after those you gave the money to.


Someone has to pay the taxes, it's usually the gifter, if not then it's the giftee. If not you and your friends would likely go down for felony tax evasion.


Enjoy Club Fed.



.

 

[antbanks81]

Thanks fam! The IRS is always trying to get in the mix. Welp, trusts for everyone.

 

[trunks206]

Interesting read from over the summer just after the rule change which has sparked the Billion dollar pay outs.

http://fivethirtyeight.com/features...ive-america-its-first-billion-dollar-jackpot/

These huge payout will be the norm since the odds are much worse now but people are flocking to buy tickets (and it only increases with each failed drawing) like this is a one of.

The executive director of the Powerball being put on leave, the security director is in jail currently convicted of fraud , and a switch to substantially worse odds (1 in 175 million chance to 1 in 292 million) and people are spending more than ever.

https://www.washingtonpost.com/news...-million-jackpot-rigged-by-a-former-employee/

 

[danyosahn]

copped $20 worth.

lady in front of me dropped $200 on tickets. 

 

[Majorbread]

bout to go cop my 2 tix here in a min

playing your own numbers FTW

 

[Barbados Slim]

Wait there's a gift tax? 

If I'm walking down the street and I drop 10G's in a homeless guys lap the government expects a cut of that? 

 

[spiceman80]

I really would do my best to take the anonymous route, if I won.

I'd offer to pay of my parents/in-laws home and their cars. But when it comes to friends, I don't think they need to know.

I feel like living modest and having a couple of nice things will keep my and my fam under the radar of anyone knowing I won the lottery. lol.

I live in MD and we have that option. I really don't understand why this isn't nationwide. Forcing people to come forward in public is crazy to me. If I absolutely had to, then I would wait until I got my immediate fam away from where ever we called home and set a few things up. So this would be months after knowing I won. I would still be going to work and everything until I came out to the world.

Will you enlighten me on this gift tax? Is it nationwide? You saying I can only give away 5 milly without being taxed?

Part of me was thinking I would send anonymous cashiers checks to the people I want to give to. Now you got me thinking I need to take out all cash like Money May and just ship my gift in boxes.

If your peoples got those anonymous checks wouldn't they be required to pay tax on that money if they deposited it?

man went on my lunch break to grab some snacks and lady in front of me bought $500 worth took really long lol 

copped $20 worth.

lady in front of me dropped $200 on tickets. :x

Ridiculous

 

[Fozz]

 
Wait there's a gift tax? 

If I'm walking down the street and I drop 10G's in a homeless guys lap the government expects a cut of that?

Anything under $14k won't be taxed by the govt. Anything over, you'll need to report it.

 

[Fozz]

I saw the line today at the corner store near work. I'll pass. People are going crazy now.

 

[spiceman80]

Anything under $14k won't be taxed by the govt. Anything over, you'll need to report it.

How exactly does this work? I write a personal check or a cashiers check to each person for X amount of money over 14k. How does the gov't know that I did that?

 

[dman14]

Anything under $14k won't be taxed by the govt. Anything over, you'll need to report it.

How exactly does this work? I write a personal check or a cashiers check to each person for X amount of money over 14k. How does the gov't know that I did that?

nothing is certain except death and taxes