Track_Shovel@slrpnk.net to 196@lemmy.blahaj.zoneEnglish · 2 days agoDeath and taxes ruleslrpnk.netimagemessage-square56fedilinkarrow-up11.1Karrow-down127
arrow-up11.07Karrow-down1imageDeath and taxes ruleslrpnk.netTrack_Shovel@slrpnk.net to 196@lemmy.blahaj.zoneEnglish · 2 days agomessage-square56fedilink
minus-squarekautau@lemmy.worldlinkfedilinkarrow-up11·2 days 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-up3·1 day 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-up2·1 day 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