Friday, September 5, 2025

If I Win the Powerball I Will Have to Take Out a Loan to Pay the Taxes

 Powerball jackpot hits $1.8 billion. Here’s the tax bill if you win

I never have understood the concept of paying taxes on the lottery. If I win the lottery I should not have to pay taxes.



1 comment:

  1. There are ways to mitigate this. First, never tell anyone you won. Find attorney who works with big winners and set up trust funds for people you want to give money too. Set up trust for you and partner. DO NOT go out and start buying. Don't take the money until everything is set. The minute you claim you can't do any of the above. Be smart. I knew a man in early 30's who won a couple million. Broke within 4 years.

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