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Lets say you won 2 million, and automatically we see the winners only receive about 60% of that. The rest of the money is deducted as a Tax. However whenever I file my income tax I am allowed to donate money to charities-churches or nonprofits and this is considered a tax "write-off". I ask this because the money that comes out of the winners share is being taken out without their input as to where they would like to see the Tax money go-towards what cause. If I won (!), I would not want the taxes to go toward the Iraq war-toward the government or toward paying their paychecks. I believe I should have a say into where this money goes. Can I do this?

2007-01-24 09:32:00 · 6 answers · asked by YippyYahQQ 1 in Society & Culture Religion & Spirituality

6 answers

Lottery winnings or your wages, it makes no difference. Income gets taxed, and none of us gets a say in where that is spent.

If you want to donate some of your winnings to charity, you can write of that "income", so that portion won't be taxed. You will pay taxes the rest.

Oh, and when you donate to charities on your tax return, that is your state tax return, and those donations come out of your tax refund. It's not a tax write off. In other words, if you are due a $1,000 dollar refund, and you choose to donate $100 of it, you only get back $900. The money that was donated was yours, not the governments.

2007-01-24 09:40:13 · answer #1 · answered by Uncle Pennybags 7 · 0 0

no, income tax of any kind cannot be denoted for a specific use. That is where voting is neccessary. Back the candidate against the things you don't want money going toward. You can include it in the taxes already paid. Your best option is to make a donation to a charitable organization and claim that on your taxes. The best thing to do is see a tax filer or even better yet a tax attorney on that amount of money.

2007-01-24 09:39:26 · answer #2 · answered by Anonymous · 1 0

R U kidding? trying to take money away from the govt is like trying to take a bone away from a pitbul. When you file your taxes your allowed to donate your own money, not the IRS' money. Your money that you donate is a write off,not the govt's money. Sometimes there is a box that you check and about $1 goes to a family related charity, but thats from your refund money. It is a wonderful gesture, though.

2007-01-24 09:38:34 · answer #3 · answered by ConstElation 6 · 1 0

one million American maximum cancers Society (i became cured from having 2 varieties of maximum cancers on a similar time with experimental stem cel implants) 2 Hospice (they regarded after my daughter and stored her mushy until her death from terminal breast maximum cancers) 3 Boys city 4 My Church 5 shop the babies 6 stable Will 7 Salvation military 8 YWCA/YMCY/Boys club of usa 9 A scholership for youthful girls in activities who decide to extra their pastime in college.. Named after my Daughter 10 Mayo health center 11 A Library at my severe college 12 a sparkling soccer field for my severe college thirteen a sparkling song field at my severe college 14 And final yet no longer least, money for great sisters and enormous brother courses... and that i could donate at share that must be significant and helpful... furnish M

2016-11-26 23:51:09 · answer #4 · answered by ? 4 · 0 0

When I win the lottery I'll let you know. Meanwhile, don't hold your breath.

2007-01-24 09:39:27 · answer #5 · answered by Sick Puppy 7 · 0 0

nope

2007-01-24 09:50:08 · answer #6 · answered by sage seeker 7 · 0 0

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