Track_Shovel@slrpnk.netBanned from community to 196@lemmy.blahaj.zoneEnglish · 2 years agoDeath and taxes ruleslrpnk.netexternal-linkmessage-square52linkfedilinkarrow-up11.14Karrow-down129
arrow-up11.12Karrow-down1external-linkDeath and taxes ruleslrpnk.netTrack_Shovel@slrpnk.netBanned from community to 196@lemmy.blahaj.zoneEnglish · 2 years agomessage-square52linkfedilink
minus-squarekautau@lemmy.worldlinkfedilinkarrow-up12·2 years agoYup, you’d be far better off doing doing the “buy, borrow, die” strategy and never paying taxes like other rich people https://www.dcfpi.org/all/how-wealthy-households-use-a-buy-borrow-die-strategy-to-avoid-taxes-on-their-growing-fortunes/
minus-squarebooly@sh.itjust.workslinkfedilinkarrow-up3·2 years agoThat wouldn’t work to reduce lottery taxes. The lottery itself isn’t return on investment in stocks or whatever, and can’t be held indefinitely the way an appreciating stock can.
minus-squarekautau@lemmy.worldlinkfedilinkarrow-up2·2 years agoYeah I was referring to specifically taking a lump sum and what to do with it as opposed to taking the payment plan
Yup, you’d be far better off doing doing the “buy, borrow, die” strategy and never paying taxes like other rich people
https://www.dcfpi.org/all/how-wealthy-households-use-a-buy-borrow-die-strategy-to-avoid-taxes-on-their-growing-fortunes/
That wouldn’t work to reduce lottery taxes. The lottery itself isn’t return on investment in stocks or whatever, and can’t be held indefinitely the way an appreciating stock can.
Yeah I was referring to specifically taking a lump sum and what to do with it as opposed to taking the payment plan