Today's TaxQuip
Winning the Lottery

 

Mike from Chicago, IL won the lottery and paid taxes on the winnings. He wants to give his mother $1 million out of his after-tax winnings.

Mike wants to know "Will she have to pay taxes on the $1 million again? Or just on any interest it accumulates?"

To find out - listen here.

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SMALL BUSINESS TAXES MADE EASY - How to Increase Your Deductions, Reduce What You Owe, and Boost Your Profits