Accountant Reveals EXACTLY What To Do If You Win The Lottery

If you win the lottery, stop. Do not tell anyone. Do not make any big purchases. Get a CPA-level tax plan without the cost of a CPA: https://www.keepmost.com/ In this video, I walk you through the practical, calm sequence of events that need to happen after winning the Powerball or Mega Millions jackpot. From the exact way to sign your ticket to the specific professionals you need to hire before you claim the prize to lottery taxes. In this video, we cover: 0:00 - The first thing you must do (it’s not what you think) 0:40 - Handling the Physical Ticket 2:08 - Staying anonymous (and how) 4:35 - Lottery Taxes (Federal & State) 6:25 - Lump Sum vs. Annuity 6:20 - The "Parking Phase": Why you shouldn't invest yet 7:00 - How to handle charity and giving to family 8:35 - Creating your new normal Key topics: The Ticket: Why you need to sign it immediately and how to store it (Safety Deposit Box vs. Home Safe). Anonymity: How to use trusts or legal entities to keep your name out of the press if your state allows it. The Tax Bill: Understanding the difference between the advertised jackpot and the post-tax cash value. Asset Protection: Why you need a tax attorney and a CPA before you claim the money. Atlantis by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ Subscribe: https://bit.ly/2HJlq46 Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos! /// Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).