US STOCK FUTURES RISE; FOCUS ON FED SPEAKERS
According to the American Institute of CPAs, giving can minimise your tax burden. You can deduct up to 60% of your AGI if you donate cash to a public charity or donor-advised fund.
The profit would be more than most people see in a lifetime, even after taxes. Jackpot winners should hire an attorney, financial counsellor, and tax advisor to help with the claiming procedure.
Tuesday's jackpot is the fourth-largest ever. It's $810 million, up from $790 million. Most jackpot winners prefer $470.1 million in cash over an annuity.Taxes would take a significant chunk of that.
Create a private foundation, donate to it, and decide how to use it over time.If you didn't reduce your income, the IRS would get another 13%, or $61.1 million ($173.9 million total).
If you win the Mega Millions jackpot, Uncle Sam will take a cut.No ticket matched all six numbers drawn Friday, therefore Tuesday's top prize is $810 million, up from $790 million2
The jackpot would be the fourth-largest ever.It would be taxed heavily. Whether the award is taken as an annuity over 29 years or a reduced cash lump amount, taxes eat up any winnings.