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6 result(s) displayed (1 - 6):

December 07, 2011

National Lottery

Winning the national lottery is a fantasy for most people. Americans spend billions of dollars in hopes of matching lucky numbers or revealing winnings on scratch off tickets. They dream of all the things they will buy and investments they will make.

Americans often refer to the national lottery when speaking of games like Mega Millions and Powerball. Lottery winnings are amassed from people purchasing lottery tickets across the nation. Individual states also have their own lottery system with region-specific games.

With national games, lottery winnings can amount to several hundred million. The highest lottery jackpot recorded occurred in January 2011 and amounted to a whopping $380 million paid out through Mega Millions. The highest Powerball winning to be recorded amounted to $340 million.

Real Estate Investing article on "National Lottery "

November 29, 2011

Lottery Taxes

Lottery taxes are the downside of winning large sums of money or valuable prizes in state and national games. One thing is certain. If you don't pay the IRS the tax man will be knocking on your door. Just ask Richard Hatch, winner of the reality show Survivor.

If you don't pay lottery taxes when they're due, you'll end up owing the IRS even more. They can assess late fees, penalties, and interest that continuously accrues until it reaches maximum level.

The first thing jackpot lottery winners should do is talk to a financial planner or tax accountant. They could also arrange a meeting with the IRS. The point is to get professional help and eliminate the risk of making costly mistakes.

Real Estate Investing article on "Lottery Taxes "

June 14, 2011

Inherited Wealth

People often dream of inherited wealth and fantasize about all the things they would do with the money. Most people talk about buying a mansion, cruising around the world in a yacht, taking lavish vacations, and engaging in shop-a-thons. While it can be fun to indulge in material things, the smarter thing to do is make investments to expand wealth.

Inherited wealth usually arrives in the form of inheritance from a deceased relative. However, large sums of money can also be awarded through lawsuits, financial investments, real estate investing, and lottery winnings.

Real Estate Investing article on "Inherited Wealth "

January 22, 2011

Structured Settlement Brokers

Structured settlement brokers facilitate negotiations for the development of annuity payments to individuals who have been injured. Structured settlements are often used to payout large financial awards over an extended period of time. In addition to injury compensation, structured settlements are also used to payout lottery jackpot winnings.

Structured settlement brokers advise lawyers about the various annuity plans available to clients and assist in the sale of future annuity payments. Brokers provide required information for settlement offers; answer questions regarding offers; and assist in negotiating the best deal for attorney's clients.

Real Estate Investing article on "Structured Settlement Brokers "

July 18, 2008

Lottery Winnings

Lottery winnings can be a blessing or curse. While everyone dreams of winning a lottery jackpot and becoming an instant millionaire there are certain considerations which should be reviewed before cashing in that winning lottery ticket.

Lottery winnings are subject to both state and federal taxation. Combined, these taxes could amount to 50 percent of the winnings. Individuals who elect to receive a lump sum payment for their lottery winnings receive considerably less than individuals who elect to receive payments over a period of time.

Real Estate Investing article on "Lottery Winnings "

July 05, 2007

Lottery Winnings

Lottery winnings are typically paid out through a structured annuity over the course of 20 to 25 years. Annuity payments pay a specified amount of cash each year. Lottery winners have the option to choose either a lump sum cash payment or annuity payments. Prior to making this decision, experts recommend organizing a financial team which includes an accountant, financial advisor and attorney.

It's important to note lottery winnings are subject to state and federal taxes. Combined, this taxation could amount to as much as 50 percent. When you accept lottery winnings in a lump sum payment, you receive considerably less than the initial winnings. If you win $1 million, the Lottery Commission might only pay 65 percent. Instead of that million, you'll only be taking home $650,000. If the taxes are 50 percent, your actual net amount will be $325,000.

Real Estate Investing article on "Lottery Winnings"