Do tax accountants purchase lottery tickets? $$$$$ A BILLION $$$$$

[The_AntiTax_Man]

Magamillions is projected to exceed a billion dollar payout for the Friday, July 29, 2022 drawing.  Just imagine the headaches winning that prize would create in your life.

I had a client win a $100,000 payout about 15 years ago.  If memory serves me right, I believe that she received a little under $70,000 after taxes were withheld.  It all went into her new house. which she desperately needed due to her child's health problems.  I was happy for her.

Are any of you buying a chance to win the big prize?  

[dkh · Accepted solution]

I'd be okay with the headaches winning that prize would create.

I am planning on buying a ticket or two.  Yep, I am one of those silly people that only purchase when the jackpot is really big.  

[IRonMaN]

I don’t buy those tickets.  The money is nice but I think the problems that would come with it wouldn’t be worth.  But if anybody here does win it, I would be more than happy to accept a donation —————- I am more than happy to take some of the burden of them wondering what they will do with all of that money😊

[dascpa]

One of my former employees won $83,000,000.  At that time the director of the lottery was a friend and client (no games in case you want to joke).  I immediately called him and asked what should I do.  I didn't want to contradict any advice they had given him.  He said they only tell the winner to get an attorney and a CPA.  Since then my former employee started spending out the wazoo so we parted ways.  But I remember that he went to a bank and at that time he could get $5,000 per day in interest.  So what if you blew $100k, it's only 20 days.

[IRonMaN]

But with $83,000,000 you can always afford to buy a new wazoo ------------------ and new friends 😜

[IRonMaN]

But then again, if you could net out at a billion, you could buy your own TV series and tell Donald Trump he's fired.  Now I'm thinking I might have to go out and by me one of those tickets.🤔

[JRC]

Yes, now that we are in a "Brandon" recession and with the transitory inflation still hanging around I have to do something to keep up my lifestyle.  😞

[MickyMartian232]

 Strong ticket sales have pushed the jackpot up to $1.28 billion for Friday night's drawing. It's now the third-largest lottery prize ever.

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