According to Uncle Sam, all lottery winnings are classified as gambling winning, which is taxed at the ordinary income tax rate. The entire tax amount you will pay on lottery winnings...
Posted by McCool's Tax Service on 01/05/2021
Winning a lottery opens the doors of fulfilling your long cherished dreams overnight. It is because the bonanza prizes often reach cosmic magnitudes. Nevertheless, the moment you get...
Posted by Tax Solutions & Accounting Services on 10/26/2018
While a vast majority of us will never win the lottery, it can be nice to dream about what we would do with such a windfall. Yet, even if we just have a small amount of lottery winnings,...
Posted by Total Refund on 04/06/2016
