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How much do you have after you win 100.000 after ...

How much do you have after you win 100.000 after taxes


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Everything I say can be fully substantiated by my own opinion.

Assuming you are in the U.S., and you're talking about $100,000...

The Federal Government will withhold $28,000, although they will want for another $11,600 when you file your yearly return.

Your State Government may want as much as $11,000.

So, you get to keep about $50,000...unless the winnings puts you in a higher tax bracket - then you'll owe additional taxes on your regular income.

C'est la vie.

 

 
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Here are some useful links for information on bankruptcy , debt consolidation and for getting help with credit card debts .

I agree with the answer above, you can expect to keep about half of your winnings If you live in the USA.  Now if you lived in Canada it would be tax free and you would get 100% of the winnings.

Posted 2009-11-11T19:05:13Z
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