Quote:
Originally Posted by BrianL99
I wouldn't put too much faith in TOTV financial advice you're getting
Gifts are generally considered taxable.
Lottery winners are not "taxed on the entire amount". Potential taxes are withheld, but the taxes are not immediately due & payable and there are a myriad of ways to reduce your tax liability.
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I like number 4 (are YOU —-ing me). Naturally people in charge writing laws would make that priority. I also love the inherent tax. Taxing stuff like property that’s AREADY had taxes paid for decades. O wait my children are considered new owner.
That makes all the difference
Sure there many ways to get out of paying taxes that why there will NEVER be flat tax to much money to be made off getting out of paying taxes.
