![]() However, because the top federal marginal tax rate is 37% - which applies to income above $539,900 as a single taxpayer or $647,850 for married couples filing jointly - you could expect to owe more at tax time. A mandatory 24% federal tax withholding on that amount would reduce your winnings by about $117.1 million. More from Personal Finance: Social media 'FOMO' drives bad spending habits This withdrawal strategy can help retirees stretch savings Before you 'chase dividends,' here's what to knowįor this $830 million jackpot, the cash option - which most winners choose - is $487.9 million. Whether the windfall is taken as an annuity of 30 payments over 29 years or as an immediate, reduced cash lump sum, taxes end up taking a big bite out of any winnings. Of course, it's not what the winner would actually end up with. Personal Loans for 670 Credit Score or Lower ![]() ![]() Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 Comments
Leave a Reply. |