So I hit the California Lottery....

[s0lefunk]

Hit 15 off a 5. Yes I double checked this time

Turned 15 into 65 since I started 3 weeks ago. I'm liking this

 

[wallyhopp]

Just be careful buddy. They will withold 25%. But you are liable for nearly 40% come tax time next year. Thats worth at least a good grand that you may or may not have next year, and will certainly OWE

Bro you've said nothing but negative things this whole damn thread followed by a "congrats" to mask the shade. I paid 5 dollars for the ticket and won 75k. After taxes I'm looking at 55k-58k then another 10% of that will be owed when I file my taxes next year. So that's looking like 45k-48k. Im not about to blow 45k in less than a year. I have an interview coming up so if I land the job this money gets thrown in my safe and I continue my life as if it never happened. I'm going to plan out an investment I feel most comfortable with and learn everything about it before I spend one single penny on it.

its not like im asking for money. I thought I was being helpful by stating cold hard 40% FACTS.. Moneys already gotten to your head dude. I know too many people who won prizes etc.. That gift tax is no frickin joke. Too many forget about it in a years time when youre entire AGI throws you into a whole other tax bracket. Your entire income that is taxed will change.

Have fun with the money. I thought some friendly advice would be helpful. I guess not.

 

[SC kid]

moneys already gotten to your head dude

Lol

[COLOR=#red]@ $kyzoo75k[/COLOR]

 

[wallyhopp]

It's like every teen movie ever. I see it as helpful advice. Other person sees it as me being petty and jealous.

I had a family member win a car on the price is right years ago. When it came down to it, they wanted her to pay like $5k in gift taxes right off the bat on a car that was maybe worth $25k. So instead they offered a lump sum amount in which she paid the gift tax off the lump sum. She wouldnt hear the last of it from family who wanted her to do this or to do that. No advice was "helpful" to her. She did what she wanted to do, as you should too OP. Do you. Ill back away from this thread. My jealous is seeping out

 

[joe billionaire]

Lol

[COLOR=#red]@ $kyzoo75k[/COLOR]

[emoji]128514[/emoji][emoji]128514[/emoji]

 

[derryj3]

Got $100 off a $10 ticket yesterday

View media item 2365888

 

[xxpizzo]

Got $100 off a $10 ticket yesterday

ahhh congrats 

but the disappoint man after seeing an Win All Symbol.. $100 is still a $90 come up but something with a Win All Symbol should be an Automatic $500 or more 

still a Win is a Win tho 

 

[derryj3]

ahhh congrats 

but the disappoint man after seeing an Win All Symbol.. $100 is still a $90 come up but something with a Win All Symbol should be an Automatic $500 or more 

still a Win is a Win tho 

bruh ! lol My thoughts exactly as I first saw the win all, then my excitement went to slight disappointment when I kept scratching $5, $5, $5, lol.

NO complaints tho, but yeah

 

[SIETE TRES LA]

Got $100 off a $10 ticket yesterday

View media item 2365888

i them Asic's player

 

[derryj3]

i them Asic's player

Yea copped these boys for like $29.99 few years back

 

[SIETE TRES LA]

i them Asic's player

Yea copped these boys for like $29.99 few years back

Nice. That's one hell of a deal too mang. Since I haven't bought a pair of J's or Nike's in years, Asics has been one of my go to shoes. You can never go wrong with any color pair of Asics Mexico 66 or Jack Purcells

 

[SIETE TRES LA]

moneys already gotten to your head dude

Lol

[COLOR=#red]@ $kyzoo75k[/COLOR]

Fam im all ears if you or anybody in this thread want's to drop some advice. But all this....

It's like every teen movie ever. I see it as helpful advice. Other person sees it as me being petty and jealous.

I had a family member win a car on the price is right years ago. When it came down to it, they wanted her to pay like $5k in gift taxes right off the bat on a car that was maybe worth $25k. So instead they offered a lump sum amount in which she paid the gift tax off the lump sum. She wouldnt hear the last of it from family who wanted her to do this or to do that. No advice was "helpful" to her. She did what she wanted to do, as you should too OP. Do you. Ill back away from this thread. My jealous is seeping out

But let me quote you so maybe you can see where I find the shade in your comments...

It's like every teen movie ever. I see it as helpful advice. Other person sees it as me being petty and jealous.

I had a family member win a car on the price is right years ago. When it came down to it, they wanted her to pay like $5k in gift taxes right off the bat on a car that was maybe worth $25k. So instead they offered a lump sum amount in which she paid the gift tax off the lump sum. She wouldnt hear the last of it from family who wanted her to do this or to do that. No advice was "helpful" to her. She did what she wanted to do, as you should too OP. Do you. Ill back away from this thread. My jealous is seeping out

You were broke but gambling away $5 at a time? Gambling is a true addiction and no answer to monetary shortcomings. It's a losing battle people. Other people wanting to start scratch offs? Please don't. The odds are so against the norm. No hate. I may try one every other month.

Unless I am mistaken (never won enough to affect my income status), you should be careful about more taxes being taken out/owed come next years tax season. Since it is a prize, I want to say you will be liable at the highest tax bracket (~40%) when its all said and done. If you only made $30k last year, this lottery win will place you into a way higher tax bracket.

Also be aware if you gift any money to friends, they can be held liable as well.

Now whether they make you show your face and name, it may be wise to hire legal representation. None of your friends or family will see the after tax amount, and only $75k. It's a great come up, but $40k can not buy much imho. Be very very careful.. Personally, I would pay off some debts, and just live stress free for a couple months and then make some of that money work for you through stocks/investments.

@skyzoo 73, just be careful. With taxes fresh in my mind, I don't want to see another thread in a year about how can I get back $11k that I dont have.

8-10 weeks?! Sheesh. Didn't know it took that long.

They say they pay for scholarships and such, but on a dollar for dollar basic, they are up MILLIONS per game. How is the lottery not a registered scam? or bait n switch?

They'll take millions of dollars before wanting to eventually get to paying OP some 8-10 wks later on $75k which wont even amount to more than $46k TAKEHOME.

Just be careful buddy. They will withold 25%. But you are liable for nearly 40% come tax time next year. Thats worth at least a good grand that you may or may not have next year, and will certainly OWE

Moneys already gotten to your head dude. I know too many people who won prizes etc.. That gift tax is no frickin joke. Too many forget about it in a years time when youre entire AGI throws you into a whole other tax bracket. Your entire income that is taxed will change.

Have fun with the money. I thought some friendly advice would be helpful. I guess not.

 

[stay lurkin]

hmmm

 

[whywesteppin]

wonder how many NTers are buying tickets cause of this thread and how many are losing and not posting here?

 

[larryeastwood]

wonder how many NTers are buying tickets cause of this thread and how many are losing and not posting here?

wonder no more. I'm buying atleast 10 dollars worth of mega millions a week and losing

 

[6 Rings G.O.A.T.]

- $2

 

[6 Rings G.O.A.T.]

Won $10 off of a $5 scratcher..

 

[sooperhooper]

wonder how many NTers are buying tickets cause of this thread and how many are losing and not posting here?

[emoji]129300[/emoji] what if op is just a marketing agent for the lotto and he's tricking everyone to buy tickets.

[emoji]129300[/emoji] what if wallyhop is a secret agent for the irs.

 

[Deleted member 42060]

wonder how many NTers are buying tickets cause of this thread and how many are losing and not posting here?

imagine the lurkers.....they will camp lotto stores
and they trying to find out the op

 

[SIETE TRES LA]

wonder how many NTers are buying tickets cause of this thread and how many are losing and not posting here?

imagine the lurkers.....they will camp lotto stores
and they trying to find out the op

They are all invited to pull up if they find out who I am srs too

 

[Deleted member 42060]

wonder how many NTers are buying tickets cause of this thread and how many are losing and not posting here?

imagine the lurkers.....they will camp lotto stores
and they trying to find out the op

They are all invited to pull up if they find out who I am srs too

lol

 

[mynameaintg]

http://fox17online.com/2017/03/20/i...k-in-lottery-gives-most-of-it-to-his-parents/

19 year old wins $500K, only plans on keeping $5K.

 

[joe billionaire]

On a road trip seen this classic while taking a leak in Arkansas View media item 2377893
Bought 2 2$ and 1 5$ won something smh 5x 2.00
View media item 2377895

 

[Sonny Corinthos]

I almost never win more than what I pay for in scratchers. Played a 10 buck scratcher and only won 10 bucks back today.

I'm thinking of playing some 30 dollar scratchers when I can afford to take some risk .

 

[snowlax]

I never buy scratchers. Think the last time I bought one was over 5 years ago. But today on my break I was paying at the counter and saw the scratchers which made me think of this thread. Bit the bullet and copped a $10.. Not much but it's more than I spent so i'm happy. Thanks NT.

View media item 2382148