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1
Posted on 1/7/16 at 8:01 am to Cosmo
Installments. Like I posted earlier you save a lot on taxes. With installments you get the whole 675 million as opposed to 413.1 for lump. That is 261.9 million dollars more or 63% more. That is considered a damn good return on investment these days.
With a lump when you pass your heirs have to pay estate taxes. With installments you have not earned or received the money so they just take over the installments without having to pay half of it in taxes.
With installments you can blow it all every year and on the anniversary date they send you a bunch more to blow.
With a lump when you pass your heirs have to pay estate taxes. With installments you have not earned or received the money so they just take over the installments without having to pay half of it in taxes.
With installments you can blow it all every year and on the anniversary date they send you a bunch more to blow.
Posted on 1/7/16 at 8:02 am to Tiger Ree
yeah but without a lump sum baller level of wealth, i can't buy into a professional sports franchise
my biggest question is how and how much i would give money away to friends, families, and charities
my biggest question is how and how much i would give money away to friends, families, and charities
Posted on 1/7/16 at 8:02 am to Tiger Ree
You do realize you don't actually get 413 lump sum. After taxes you'd be lucky to get 230 million.
Posted on 1/7/16 at 8:04 am to Cosmo
I'm going to take the lump sum for my winnings from last night.
I had the PB # plus three numbers.
I had the PB # plus three numbers.
Posted on 1/7/16 at 8:04 am to LSUEEAlum
Well shite, I can't live off of 213 mil.
Posted on 1/7/16 at 8:04 am to Tiger Ree
quote:
If you do it yearly you get the 10% through 35% tax brackets again until you go over 466,950 every year.
you know if you are receiving 500 million over 20-30 years you are getting more than 466,950 every year right?
Posted on 1/7/16 at 8:05 am to MontyFranklyn
Yeah you have to settle for a used g4 at 213
Posted on 1/7/16 at 8:05 am to SlowFlowPro
quote:
biggest question is how and how much i would give money away to friends, families, and charities
Only 14k per year to each individual unless you want to pay a gift tax. Charity you can give as much as you want. If you are married your spouse can also give 14k to the same individual for a total of 28k per year per individual.
Posted on 1/7/16 at 8:05 am to Tiger Ree
I don't feel like calculating it out, but you aren't saving a "ton" on taxes. Anything over 190k you're paying 30+ percent anyways, and you are opening yourself up to the risk top earners will be hit with a 60 percent plus kinda deal with all of this wealth redistribution talk.
Posted on 1/7/16 at 8:05 am to Happygilmore
quote:
you know if you are receiving 500 million over 20-30 years you are getting more than 466,950 every year right?
i think we found a prime "installment" person
Posted on 1/7/16 at 8:06 am to LSUEEAlum
quote:
Only 14k per year to each individual unless you want to pay a gift tax.
yeah i think i'll splurge on a gift tax to my mom and other close family
This post was edited on 1/7/16 at 8:06 am
Posted on 1/7/16 at 8:06 am to Cosmo
Lump, easily
take the lump and invest that shite and live off the returns
take the lump and invest that shite and live off the returns
Posted on 1/7/16 at 8:07 am to Cosmo
Lump. I'm pretty sure it's been analyzed, and with conservative investments you can make more with the lump sum than the difference between the total installment plan.
This post was edited on 1/7/16 at 8:08 am
Posted on 1/7/16 at 8:07 am to Rox
Lump
Posted on 1/7/16 at 8:08 am to Cosmo
Lump sum.
Posted on 1/7/16 at 8:09 am to LSUEEAlum
quote:
You do realize you don't actually get 413 lump sum. After taxes you'd be lucky to get 230 million.
Well frick.
Posted on 1/7/16 at 8:10 am to SlowFlowPro
i have a list of 21 relatives to whom i would donate $1M each.
2 kids who would each get 1/4 of the initial sum.
the wife and I would make it our full time job to spend the rest.
2 kids who would each get 1/4 of the initial sum.
the wife and I would make it our full time job to spend the rest.
Posted on 1/7/16 at 8:11 am to LSUEEAlum
Do you still have to pay the gift tax if you just pay a huge bill for someone? Like say I paid off a family member's student loans that went to law school. Does that still fall under that?
Posted on 1/7/16 at 8:12 am to Cosmo
Always lump sum.
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