by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Winning a prize is exciting, especially when it's close to the April 15th tax deadline. Claiming your prize needs quick and smart planning to keep your winnings safe. Knowing what to do right away is key to handling your unexpected money wisely.When you find out...
by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Winning a sweepstakes prize is thrilling. But, understanding the tax rules for gifting it is key. Knowing how to handle taxes on a sweepstakes prize helps avoid IRS problems. The tax rules for sweepstakes prizes can be tricky. The IRS sees these prizes as income. So,...
by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Winning a prize is thrilling, but moving to a new state can add complexity. Prize winnings relocation involves legal and financial aspects that many overlook. It's key to understand the challenges to protect your wealth. When you move after winning a prize, navigating...
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...
