What if a student won the powerball? Taxes?
July 14, 2010 - 7:04 am
I am a student, and in the USA, full time college students are given pretty generous tax breaks. Now what if a college student hit the powerball? If they were to take the lump sum, would they be responsible for much less tax than someone who is not a full time college student?
It doesn’t matter what your status as a student is — you pay taxes on those things and if you take a lump sum, you still have to pay taxes. IRS won’t give tax breaks to lottery winners.
Frankly, if I ever won Powerball, I’d not be a student anymore — I’d quit school and start living.
July 14th, 2010 at 12:51 pm
It doesn’t matter what your status as a student is — you pay taxes on those things and if you take a lump sum, you still have to pay taxes. IRS won’t give tax breaks to lottery winners.
Frankly, if I ever won Powerball, I’d not be a student anymore — I’d quit school and start living.
References :
July 14th, 2010 at 1:36 pm
The only tax breaks for college students are deductions for tuition, the hope credit, and the lifetime learning credit.
If a full-time college student pays little or no taxes, it is because he doesn’t earn very much money. If that same student were to win the powerball, he would pay the same taxes as anyone else.
References :
November 5th, 2010 at 3:08 am
… track backe bei http://monclerbozen.myblog.ph ……
grand , votre blog site thème est réellement bon , Je suis chasse pour la nouveau thème pour mon moncler doudoune personnel site web , j’aime vôtre, maintenant Je vais à aller cherchez le identiques design !…