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How do I deal with taxes?

If you win 1.000.000 on deal or no deal, how high are the taxes?

  • Won´t they be like a minimum of 27 % and depend on the rest of your income? If you make 40.000 a year and win 1.000.000 - how much do you get to keep?

  • Answer:

    40% taxes on every thing you earn tha is more than $9,999 so i suggest you should go for the first deal the banker gives you:)

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Did you win it in the lotto?Or a Real Estate Deal?Makes a different where.If was a Real Estate Deal you cann do a 1031 exchange,right it off real estate expenses,open a Entity and put in a LLC or FLP.The more right offs you have the less taxes you pay..GOOD LUCK..CONGRATS.. REAL ESTATE INVESTOR

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Just like the lottery, it depends on the state you live in. The IRS automatically gets 25%. IN Arizona the state tax would be 6% so you would keep 69%. In Nevada, there is no state income tax so you would get to keep 73%.

walter

Plan on losing around 30%-40% of it.

mattd550

Gift tax is usally around 30%.

just me

depends what state and not how much you get really for it is a lump some gift where agift tax, state and fica taxes are due and you need not worry before you even see the money the irs will be there to make the proper arraingments of their cut

Walther L

You can pretty much count on never even seeing about 40% of it.There's income taxes but a couple of others thet add on.

Ricky J.

a whole bunch! Probably close to half of it.

pappy

I'm sure after everything you end up with about half amazing how even the government makes so much money off of game shows

tuesdayisgreat

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