by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Winning a big sweepstakes can change your life in an instant. On February 14, 2023, Edwin Castro won $2.04 billion in a lottery drawing. He chose a lump sum of $997.6 million. This windfall might seem like a dream, but managing it well is key. Estate planning is...
by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Winning a big amount of money is exciting. But, dealing with taxes can be tough. That's why you need a tax attorney to help manage your money correctly. Getting advice on taxes after winning is key. A good tax attorney can guide you. They help you use your money...
by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Winning a sweepstakes is thrilling, but it's important to know about the tax side. Prizes, whether cash, merchandise, or services, are seen as taxable income. This means you must report them on your taxes.The IRS wants all prize winners to report their earnings on...
by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Winning a sweepstakes can be thrilling, but not everyone wants to take their prize. Sweepstakes have complex situations where people might choose not to accept their prize. Knowing about prize refusal helps winners make smart choices about their winnings.Sweepstakes...
by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Understanding tax deductions can be tough for winners who want to save more on taxes. Knowing the right strategies can lead to big financial gains. It's all about digging deep into the tax world.There are special tax deductions that can help you pay less in taxes....
