Track_Shovel@slrpnk.net to 196@lemmy.blahaj.zoneEnglish · 2 months agoDeath and taxes ruleslrpnk.netexternal-linkmessage-square53fedilinkarrow-up11.14Karrow-down129
arrow-up11.11Karrow-down1external-linkDeath and taxes ruleslrpnk.netTrack_Shovel@slrpnk.net to 196@lemmy.blahaj.zoneEnglish · 2 months agomessage-square53fedilink
minus-squarekautau@lemmy.worldlinkfedilinkarrow-up12·2 months 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 months 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 months 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