DiSabatino CPA Blog

Mike DiSabatino CPA

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Triple Tax: aka The Lottery

Most everyone enjoys dreaming of winning it big in the lottery. News media outlets publicize the large unclaimed pots of money on the evening news and they put a spotlight on the lucky multi-million dollar winners. Ever wonder what the tax math looks like?

 

The Lottery Wage Drain

The bottom line when seen from a wage stand point is that 75% or more of the income used to play the lottery does not end up in the hands of the winner.

As always, feel free to pass this Tip along to friends, and reach out if you need help with your personal tax and finance situation.

DiSabatino CPA
Michael DiSabatino
651 Via Alondra Suite 715
Camarillo, CA 93012
Phone: 805-389-7300
ww.sharpcpa.com

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