I have recently bought an item off ebay from the US (im in the UK). I asked the seller to put a low value on the customs form and she said that was fine. I have received a customs charge letter today ...
I'm 22 years old and I was a full-time student last year. I also moved to Indianapolis to student teach. I payed for all of my expenses and took out loans under my name only to help with ...
Anyone want to explain it? Additional Details Okay, so my older sister is a doctor and her federal witholding is $35,712.09 . How much of that does she actual get back? She is single, no ...
I do under the table work so that I am able to be a stay at home mom. I clean bathrooms (for family & friends), as well as a lot of computer work, make resumes, baby sit, tutoring, things like ...
hI all,
i am a health professional working in NHS through the agency. I am working for my agency but my pay roll being made by a limited company, they charge me 27.50 per week. even if i work 8-1...
I am a private software/hardware contractor trying to save money on my taxes. I bought about $3000 worth of stuff on December 30 and 31st of 2006 so that I could write them off of my 2006 taxes. (W...
My last 2# are 60 and i got the letter saying it will be mailed by the 20th of june. My real question is that the irs website still says it is scheduled to be mailed on 6/20 and its 6/23. Has anyone ...
Because my mother claimed me as a dependent. However, I am 19, make a substantial amount of money(or, 9,000 a year is enough for a 19 year old), and payed taxes. How would I not qualify for a ...
what would the value of their part of the property be for calculating capital gains? Would it be half the value of the whole house or would it be the current market value of selling to someone half a ...
ON JUNE 20TH I RECIEVED A CHECK IN THE AMOUNT OF LIKE $4,820.00 IN THE MAIL IN MY MOM'S HOUSE IT STATED FOR ME TO CALL AND THEY'LL INSTRUCT ME WHAT TO DO. I CALLED AND THEY STATE IT WAS A $4...
Feds are going to take 40% off the top, depending on the State from 0 to 10%. So you could make as little as half of the money if you win.
hemi
Between 30 and 50% I would guess...
But why worry...you just won a million
I am sure with a good accountant and attorney, you could find way to invest so you would pay less in taxes......but that too will cost a fair %.
Even if you pay 50% in taxes...at a 10% return you could turn your 500K into a million in under seven years if you invest it wisely
MonaLisa Overdrive AM VT wannabe
Depends on your state, but 40% or so
Old Wise One
I would plan on around 25% that should cover fed and state taxes especially if you put that much of it back into a savings acount and let it set until the taxes are due, Thats how I figure any of my financial planning.
andrew
you woulkd lose at least half of you winnings
Alex H
If it was in an official lottery, then its tax free
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