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The PCH Million a Year for Life
duanedoug1
#1 Posted : Tuesday, January 17, 2012 8:20:19 AM(UTC)
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Location: Atascadero, California

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With that kind of money I could.... Retire, Buy a house with some acreage, Buy a newer car, Help family members, and so much more.


Then again, I would be happy to win any prize bigger than my current biggest win. My biggest win in 2 years was $100.00 (4 times).

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Figures don't lie, but liars do figure-Mark Twain.

SeesTheDay2
#2 Posted : Tuesday, January 17, 2012 2:12:34 PM(UTC)
SeesTheDay2

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Yes, that would be my dream win, too! I'd set up my family in businesses and travel in style to beautiful places and also with that kind of money set up some kind of charitable org. Oh and open a soup kitchen or three!
winnow1
#3 Posted : Tuesday, January 17, 2012 2:40:48 PM(UTC)
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Lol, if I were to win this one, I'd stop entering all the others. BUT I wonder what they actually give you on a yearly basis. It's definitely not 1 million, I'm thinking 1/3 that amount, but I'd still be happy

duanedoug1
#4 Posted : Tuesday, January 17, 2012 3:18:03 PM(UTC)
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Joined: 7/16/2010(UTC)
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Location: Atascadero, California

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winnow1;138874 wrote:


Lol, if I were to win this one, I'd stop entering all the others. BUT I wonder what they actually give you on a yearly basis. It's definitely not 1 million, I'm thinking 1/3 that amount, but I'd still be happy



For 2011 your fed tax on income of 379,150 and above would be 35%, or $327,314 on $1,000,000. http://www.efile.com/tax...calculator/tax-brackets/


Then you have to pay state tax. California income tax, according to this link https://www.ftb.ca.gov/f...tes_and_Exemptions.shtml   is a maximum of 9.3%, or 93,000.


Total tax of $472,150 leaving me $520,850, a bit more than half. A good tax advisor should be able to increase that amount.

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Figures don't lie, but liars do figure-Mark Twain.

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