how to avoid taxes on lottery winnings
Do I need to pay tax on my winnings?
how to avoid taxes on lottery winnings
how to avoid taxes on lottery winnings
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how to avoid taxes on lottery winnings Although you don't have to pay taxes on your lottery winnings, there are a number of things to keep in mind once the money has been sent to you The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes The Ministry of Home Affairs has proposed that the prize amount for lottery winners be paid through formal banking channels to prevent tax
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