Tax Tips for Lottery Winners
Tax Tips for Lottery Winners
trust for lottery winnings
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All lottery winnings over $5,000 are subject to federal tax withholding of 24% Some states also require state tax withholding on lottery
All winnings over $5,000 are subject to tax withholding by lottery agencies at the rate of 24% This potentially leaves a gap between the
trusted company slot Better yet, the winnings can be in your hands in a matter of days Working with an experienced attorney to establish a trust that protects your identity will
trusted slot First, if the winner is unmarried, keeping their winnings in a trust can help ensure it is not classified as a marital property if they do later