by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Winning a prize can be thrilling, but knowing the tax rules for non-cash prizes is key. The IRS says you must report all prizes and winnings, even if they're not cash. This includes cars, vacations, and electronics, which can affect your money planning.Taxing non-cash...
by clicejames | Jun 11, 2025 | Taxes & Financial Planning for Winners
Winning a prize can be thrilling, but it comes with tax implications. Many winners face financial hurdles due to unexpected tax burdens. It's important to know what happens if you can't pay taxes on your prize to avoid legal and financial issues.The IRS views prizes...
