?? Work at Pickup Points � Flexible schedule

How Much Do Lottery Winners Pay in Taxes? $669.8M Jackpot!

LYFE Accounting 583 views

Download Video

Comments

Would you take the lump-sum payment or the annuity??
Comment from : @LYFEAccounting

I mean, are they paying that new tax bracket every year although they only made that money with one Lottery winning⁉️⁉️
Comment from : @hevinamber

What's some strategy would you use to lower taxes ?
Comment from : @rickrogers4990

Wait to they automatically take 24 them another 37 plus state tax? Wtf
Comment from : @charlieave2315

Dam 37 😢
Comment from : @marlandodaubon21

Lump sum Less head ache per year 😅
Comment from : @PpaulReatcs

If you take the annuity, I’m pretty sure you can’t leave any of it to your children Once you pass away they literally stopped
Comment from : @williamcaldwell4827

Annuannunity
Comment from : @mauricecalhoun7379

Tuff call I guess Annuities
Comment from : @LawnGuy-j8y

I will take the lump sum,Because tomorrow not promise to no one even your last few breatheand live to the fullest extent 🎉🎉🎉
Comment from : @jaysoncoutou8028

Annuity all day
Comment from : @reggieking6448

What is the discount rate used to determine the lump sump? Once you know that, you can check what discount rate you could get for the annuity in the private market That would tell you which is is the better option
Comment from : @stephenmras8519

You’re completely wrong about the annuity you say you’re a CPA? brYou do not receive equal payments brbrIt is a graduating scale Your first payment would not be 233 million It would be more like 105 million and your last payment would be roughly 427 million pre-taxbrbrYou should really look into what you’re posting about before you say something you’re completely wrong about brbrGlad you’re not my Cpa
Comment from : @davidandstactheil3405

I think the IRS is nothing but organized crime
Comment from : @stevebrady6927

So if you take the annuity and live in a no income tax state, that’s the best option to get the most money overtime
Comment from : @oahuguppyguy5797

I will half to consider the annuity because $200M is quite a considerable sum to leave behind
Comment from : @fernandochevannes8205

I’d take the lump sum because it only takes 5-10 years for hyperinflation to make your millions worth nothing
Comment from : @sleepytmk

I would take the lump sum because if you die all the taxes are due to who you leave the money to
Comment from : @slipshankd1307

Which way you take the lottery winnings, Depends on your age If you are in your 20's or 30's you might want to take it over a 30 year period This way you have a guaranteed income and can learn as you go along how to handle this kind of income If you are at or near 65, you would take it as lump sum, since you may probably won't live another 30 years First thing this individual needs to do is get a tax attorney and pay the income taxes owed, this way you get IRS out of the way
Comment from : @mcalhad

I’m taking lump sum! You can’t trust any Of these annuity companies with your money!!
Comment from : @pjlaveus3964

I would take the yearly check 😀 ❤
Comment from : @JoannRico-zd2pf

I would take the lump sum mostly because I am 63 years old 30 years from now I’ll be 93 And maybe I don’t live that long Also, I’m impatient!
Comment from : @TheKrisg50

Lump Sum👏🏾👏🏾👏🏾
Comment from : @AuthorLHollingsworth

I would setup a LLC and I would do annuity
Comment from : @thunderbirdhk45

You pointed out pretty clearly that the yearly payments would actually give you nearly $ONE-MILLION-A-YEAR: I THINK I'D BE OK W/THAT!!!!😎😎😎😎
Comment from : @patrickandrews7893

Im not investing, ill take annuity and move to a state that dont tax lottery winnings period And enjoy my life
Comment from : @redciroc1211

No one and I mean NO ONE is guaranteed another 30 years of life that's too far of a stretch and gamble to me Give me my money NOW 😌
Comment from : @Marygo_Round

But if you take the annuity and you die , what happens to the rest of the money ??? does go to a beneficiary ???
Comment from : @joffre32

This was excellent I thought you were going to say, “take the lump sum and put it into the highest earning zero risk investment you can find and you’ll beat the 137 return on your 30 year tour” But you’re right on all counts If you’re smart and learn to listen to good accountants, attorneys and financial advisors you’ll probably make lot more by taking the annuity
Comment from : @michaelzumpano7318

Is there any way to make the annuity last longer ? Could you go into this in more depth ? Like putting some money into a 529 account, roth ira, if it made any sense, 401k, tax credits etc, and states that have a low income tax or no income tax
Comment from : @techdiyer5290

I would take the lump sum Who knows if I’ll be here in the next 30 years
Comment from : @stefanoperez4977

Just start with the basic strategy in investing which I call the golden rule Diversify your investments Invest for the long haul and Invest regularly
Comment from : @sp9138

With that kind of money you have time to learn about investing
Comment from : @sp9138

I woukd take the lump sum because tomorrow is not promised to you
Comment from : @sp9138

I spoke to soon
Comment from : @franklynthree

I want you to show how to reduce the taxes
Comment from : @franklynthree

Lump sum
Comment from : @johannmartin520

So essentially as soon as you win a huge lottery win in America, you just as well hand the entire winnings back to the government
Comment from : @st1kman2009

I’m the next winner of the Jackpot
Comment from : @I-WIN-LOTTERY-JACKPOTS

I’d take lump sum obviously
Comment from : @iluvmyJehovahJireh

annuity
Comment from : @loriwashington6338

annuity
Comment from : @kidistbeyene8573

Taking an annuity payment is assuming youll live for 30 more years😂😂😂 why chance it The payments stop when you're dead and the rest of that money disappears 😂😂
Comment from : @bigl161985

Damn man - now we arguing over here about lumps sum vs annuity I need all my money now Hubby like, ‘what about our heirs?’ I’m like ‘I don’t know them people!’ 🤑
Comment from : @Lia6322

Annuity I live off 75k a month now so I can definitely live off of 233 mill a year
Comment from : @RayGee3000

I would take the lump sum because I can immediately , after tax , purchase some dividend aristocrats and dividend kings and live off the dividends If you take the annuity and do the exact same investments the earnings on the annuity would never be able to catch up with the lump sum You would never have to sell a share so only tax you'll pay on the qualified dividends every year will be calculated at long term capital gains tax rate of course at the beginning you would pay the income tax but after you put it in the solid blue chip dividend stocks and never have to sell a share and only living on the dividends you will never go broke you could also live on only half of the dividends and reinvest the other half of the dividends back into the stocks to compound with a dividend snowball
Comment from : @AnthonySipes

Always take lump sun, no one is guarantee to see the next day
Comment from : @Xyz99899

Lump Sum Lou Hutt, Dave Ramsey & Mark Cuban- all say take the Lump Sum 99 of the time
Comment from : @findingSTAN

If you did take the annuity, it's in your best interest (pun intended) to claim it under a trust so that way if you were to pass away before the 30 years, the money doesn't end right there Whoever you have set up in the trust can still collect that money after you are gone Also, if you live in a state that has income tax, your first move should be to make your "permanent residence" in a state without income tax like Florida, or New Hampshire
Comment from : @AchievingAchievement

I will take the lump sum Because I am 65 years old And who knows when I will die So I desire to enjoy my money, while I am alive Thanks for the video
Comment from : @davidposile8117

I'd hire a tax lawyer to work with my CPA & a financial advisor Plus, I'll still contribute to my Roth IRA & Roth 401k
Comment from : @tj281983

If you're under 55, take the annuity If you're over 55, take the lump sum
Comment from : @ueno1

Payments
Comment from : @antoniobarleston4240

Masabhekobatnachyatahumagasatssmarasathaysahehorahajasakeakhavathakeakgavmandhetheusgavkarojausahacekaratathakeandhetarabheyayahatovhakhatethekematojabjanugejabvhamaregodmakarabdhagadhnyavadetr
Comment from : @lokendarsingh7558

Its stupid First they take taxes from the winning and because I had that much money and they know I can't earn that much but now i owe them another large sum of that money at the next tax how does that make sense
Comment from : @opslocked8597

I’m doing annuity Steady income every year It goes up 5 every year
Comment from : @elliotjackson3414

Form a Trust and take the Annuity
Comment from : @billsprague9783

Any amount over $500 million should be shelled out in annuity Most of us live with less than even 1 million dollars in the bank every year
Comment from : @theresat5737

Thanks so much guys ❤😂🎉😢😮😅😊😅
Comment from : @ZaldyAndaya-er9ox

Inflation 30 years
Comment from : @Project-21B5

False advertisement
Comment from : @Project-21B5

Shame on the government that's running the Lotto They are robbing every innocent people in the United States The Lotto is a scam A scam that robs every innocent people They decide when to change the number We, the people, we the American, should fight back for our money
Comment from : @dannygonzalez8934

Is the annual payment transferable to children
Comment from : @lhogie1962

I cross that bridge when i get there lol
Comment from : @alldayubum

Breh they 100 gonna kill u once u take the annual option
Comment from : @coldnoodles2951

In India we pay tax to tax
Comment from : @shaluhellotalk3464

I would take the lump sum because I don't expect to live 30 years Plus, I'd like to give a lot of it away
Comment from : @philochristos

What if a foreign, non-resident player wins the lottery? Like a tourist who happened to play while in the US, how will their situation be different from a US citizen winning?
Comment from : @SeminarChauffeur

I won 11 Million from Publishing Housing A Man Came Out but I Wasn't at the house and never heard anything since I have Tried to contact them in the past but never had any luck doing so Can you tell me Once you win And Send back the Claim form do IRS get their taxes before they come out? Once they know you won
Comment from : @LolitaNelson-yv7rj

Wait, who gets the 200 million that was first cut from the 709 million? You never mentioned that
Comment from : @briiibriiibooo

I always lean towards the annuity cause I see most of the money On top of that, my kids, who I would it leave it with upon my death, would have some better understanding of how to manage it after I'm gone, and hopefully learn how to generate generation wealth in the process
Comment from : @titusnixon

When my number comes up, I'm calling YOU
Comment from : @isobignugget7497

Lump sum you could be dead in 10 years 🍻
Comment from : @TheFrog767

23 million a year for the next 30 years is cool whit me
Comment from : @emoney824

I am 73 years I would take the lump sum Pay the 40 taxes and do what I want
Comment from : @barbaraburner1442

Nice videobrAnnuity is the only smart decision
Comment from : @JDMc

annuity
Comment from : @larryrodriguez9307

Annuity Please
Comment from : @pcclark233

Why does it matter how much the greedy government takes? You retain a lot more than you had Before winning You don't "lose" anything through taxes because you DIDN'T have it prior to winning
Comment from : @larrybrinley8222

I am I am body not in success
Comment from : @BernardusKhan-bq8vu

Sign the lottery ticket and hire a reputable wealth management team immediately to guide you on keeping most of your wealth brbrAnd don't fret about getting a small fraction of the winnings, after all you only invested a tiny fraction for a life changing windfall
Comment from : @ytpremium7649

I believe that I would take it the payment's over 30 years
Comment from : @bradleychristian3780

❤❤❤❤❤❤❤❤❤ Thank you Almighty Great FATHER for making me to win Euro million congratulations to me I am so grateful
Comment from : @romeoudog9994

Lump sum is the only rational choice Why? Because the annuity choice takes WAY too much for granted The financial system in this country was designed to fail over a long period of time, so no one catches on to the scheme As Morgan said, give me control over a country's money system, and I care not who makes it's laws The unbacked fiat dollar used in the fractional reserve scheme is continually devalued and WILL crash, within my lifetime Lump sum, go ahead and take the loss of the government blatantly stealing roughly 60 of it through income taxes that are not even permitted by law, and invest it in hard assets, not ledger entries aka stocks The annuity choice also takes for granted that the lottery will remain solvent and be able to continue to pay out the debts
Comment from : @ianberry5879

It's simple for me - I'm old so I would take the lump sum
Comment from : @hanoc101

but a dollar now is worth more than a dollar 30 years from now Finance time value of money
Comment from : @johnhill2495

Annuity
Comment from : @ralphshearer823

Also Goldman Sachs will give you a guaranteed 5 on your $200 million so your around $5mil after taxes a year on your $200 mil
Comment from : @SeanDees