102 replies to this topic

[TEO]

Perhaps a Mick lap dance instead?

[Raynequeen]

stop working. finish school. vacation. a lot.

[Jambear]

I would buy a reasonable size house on Lake Tahoe and put someone into it to keep it up while i was busy traveling the world.

[china cat]

I'd set up every family member, for life

I'd set up every single mom I know

I'd give random huge tips to service workers

I'd fund charities

I'd buy hundreds of food documentaries and send them to everyone I know, and, pass them out on the street

I'd find random struggling people and offer funds, scholarships for their kids, pay random bills for them

buy RMB a new tour bus

Tim and I would travel, buy and RV, have a lot of land and a big farm. and employ people to work on it (with the cutest animals ever) and, we'd have a second home, some quiet lakeside cabin

take cooking classes, have a vegan chef, do a lot of spiritual retreats, go back to school because I love to learn and would have to time to do so.

[TakeAStepBack]

So you would exploit the working man?!

That's just wrong.

[Geminimoon]

I would build a new JR/SR High School in our town and still have more money than I'd ever know what to do with.

I like that one....

-Hire a brass band to stand outside my office and play "Take This Job and Shove It."

I would love to see that!

[Geminimoon]

I'd give random huge tips to service workers

I'd find random struggling people and offer funds, scholarships for their kids, pay random bills for them

go back to school because I love to learn and would have to time to do so.

Great ideas....

After some of my investments started making money I would buy a farm and settle out in Colorado where no one knew I had money.

And I would do Bonaroo and almost every other music festival around the world VIP style!

[Java Time]

I would suggest taking a few grand of that and investing in flying lessons so you don't kill yourself with your new helicopter and airplane before you get a chance to enjoy the money

SPEND MONEY?1?

WHAT AM I...MADE OF MONEY

[Java Time]

So you would exploit the working man?!

That's just wrong.

I'd buy a submarine and stock the fridge with Genny lights

[TakeAStepBack]

I'd buy a submarine and stock the fridge with Genny lights

That's good thinking. You already have the tent commode so i can't see you needing anything else.

[Java Time]

I'd set up every family member, for life

I'd set up every single mom I know

I'd give random huge tips to service workers

I'd fund charities for multiple tax write-offs

I'd buy hundreds of food documentaries and send them to everyone I know, and, pass them out on the street for a small nominal fee of course...I'm Republican now

I'd find random struggling people and offer funds, scholarships for their kids, pay random bills for them

buy RMB a new tour bus

Tim and I would travel, buy and RV, have a lot of land and a big farm. and employ people to work on it (with the cutest animals ever) and pay them next to nothing and, we'd have a second home, some quiet lakeside cabin To chill with our new friends...The Romney's

take cooking classes, have a vegan chef prepare me veal, lamb and any other baby animal I feel like eating Dammit, do a lot of spiritual retreats and call them "business trips", go back to school because I love to learn and would have to time to do so...plus another tax write-off is always welcome

So FIXED!

[Java Time]

That's good thinking. You already have the tent commode so i can't see you needing anything else.

actually my drunk friends broke the thing...but of course I bought another one!!!

[SunshineDrummer]

I would love to see that!

Spectators are welcome. I'll rent out Rockefeller Center for the afterparty.

[Depends]

prolly register republican, prolly....

[Jwheelz]

three words:

Offshore bank account

[Ginger Snap]

After doing the obvious like setting up college funds for the kids and paying off family debts and mortgages, I'd gather a few to a bunch of my closest friends and family and go retreat somewhere for a month. I'd hone more in on what I really want to learn more about and go to grad school, then start a business. Oh, and lots of travel.

[MeOmYo]

prolly bribe vibeguides to move threads of my choosing, edit post and whatnot

[Ginger Snap]

So FIXED!

So FIXED!

[Jwheelz]

in all honesty what I would do is make sure all my family was set for life, as well as my niece and nephew were set for college + trust fund most likely... then I would get an ultra custom RV for nationwide travel... I have a couple friends I would also want to help out... and I would buy a sizable property or two and have nice but not very extravagant fully custom wheelchair accessible homes with very nice setups for entertaining... I'd also probably start a charity to help disabled adults find fully featured independent housing and mentorship and stuff... plus I'd probably invest a lot and start a festival or two

[TEO]

A fleet of trained cabana boys, or hire a full time cabana boy trainer.

[melissaphish]

After all the usual stuff, I would go back to school and study astrophysics, and then spend my 50s and 60s discovering the origins of the universe or some such coolness.

[melissaphish]

So, here is the question: When I win the money and take the lump sum, and then give some away, do the people I give it to have to pay taxes on it if I already paid taxes on it?

[MeOmYo]

it has to be less than $13,000/year to be tax free. I think.

[MeOmYo]

$13,000/yr/individual

[Jwheelz]

I think though I bet our resident accountant could probably answer it better... that you would have to pay taxes if it was over a certain amount as a gift and they would have to pay taxes on it as income? I could be completely wrong and probably am on this

[TEO]

Perhaps I will merely advise the winners and PROFIT.

[TakeAStepBack]

I'd just move it all into swiss accounts or by gold bullion. The interest rates are ridiculously low anyway and no money can be made that way.

[TEO]

So, here is the question: When I win the money and take the lump sum, and then give some away, do the people I give it to have to pay taxes on it if I already paid taxes on it?

At the Federal level, gift taxes are unified with the estate tax. You can gift as many people as you like $13,000 per year ($26,000 if you and your spouse elect gift splitting) currently without using any of your unified deduction/exemption. Generally the recipient is not liable for the taxes, generally.

[Jwheelz]

yup I was wrong

[jpotts05]

I would hire Van Halen to play my birthday party!

[MeOmYo]

no faith in me J, no faith

[Jwheelz]

I was writing my answer when you were writing yours, so I plead ignorance since I didn't see it

[Java Time]

I would hire Van Halen to play my birthday party!

Jeff Spicoli...is that you?!?

[Feck]

better take the lump sum, maybe only 3 weeks to spend it
13.0.0.0.0

[In A Silent Way]

I might spring for VIP Vibes tickets, and go to Wormtown.

Perhaps I will merely advise the winners and PROFIT.

... and hire TEO.

[CTMuleman]

So, here is the question: When I win the money and take the lump sum, and then give some away, do the people I give it to have to pay taxes on it if I already paid taxes on it?

At the Federal level, gift taxes are unified with the estate tax. You can gift as many people as you like $13,000 per year ($26,000 if you and your spouse elect gift splitting) currently without using any of your unified deduction/exemption. Generally the recipient is not liable for the taxes, generally.

To get an answer without the generally's, see below!

Perhaps I will merely advise the winners and PROFIT.

Or you can advise those who just think they'll win

[Lostsailr]

I would hire Van Halen to play my birthday party!

Spicoli'd

I'd go bigger --> VIBES AT MY PLACE!

[TakeAStepBack]

You really want 25,000 + wooks at your place?

[Royal]

I would set up a foundation like on Seinfeld. This would be for boardies only and they could submit requests for funding.
Two chicks at once.
I'd give my brother money to start his own restaurant
I'd set up Megmyster for life.
I'd buy expensive cheese and share it with my brother
I'd send Mamapajama's kids to the college of their choice
I'd hire a protege to accompany me at festivals and remind me to put on suntan lotion, aloe, take meds, and drink water
I'd give Chris McF anything he wanted
I''d set up a fund for vet bills for Sunshower and Nancykind
i'd give lots of money to the Alzheimer's Association
I'd visit Australia, New Zealand and Japan
I'd pay my parents's taxes every year so they didnt have to worry.

[Geminimoon]

Spectators are welcome. I'll rent out Rockefeller Center for the afterparty.

Nice! I want lobster since you will be able to afford it!

[TakeAStepBack]

I just heard the odds are 175 million : 1

Good luck.

[Geminimoon]

On a purely vain note, I would have some plastic surgery to make my ass and thighs smaller.

And I would probally put together my own festival, with the bands I want and invite all my friends and you guys for free.

[Smiles]

So FIXED!

Well done haha

Easy though: 250 million Powerball tickets. I'd be the world's first gaziliionaire.

[Eco]

I'd set up a shelter so people could come and abuse animals, employ people to steal from the needy and give it to me, bribe city council people to vote against Vibes and other events so 100's of thousands of people have a miserable life and give the rest to Roseann Barr so she can attempt to run for president again.

Actually I would prolly beg on the streets of Providence and if people gave me money I would hand them back a $100 bill which of course would be counterfeit.....

Actually I have no clue what I would spend it on but my heart/soul is in a good state of mind so I'm sure people and animals in need would get most of it.

[Karen]

I would help a whole lotta folks I know that are in need.....and then help a whole lotta folks I don't know, who are also in need.

I would have my tattoos lasered off.

[Java Time]

oh yeah...I'd start a cult, get a preaching degree from the back ads of Rolling Stone Magazine, and live tax-free

Oh yeah...and then everyone will be saying " JAVA H TIME...I CAN'T BELIEVE HE JUST SAID THAT!!! "

[Java Time]

Oh yeah...Quotes

[insolent cur]

establish a philanthropic foundation.
set up my family and friends.
build two compounds (one here and one in the caribbean) with enough comfortable living space for friends and family to visit or reside.

[sarah b.]

Put enough aside to afford to live for another 65 years. Look out for family and friends, hook up everyone who has done me kindness, give tons to charity, fund scholarships, do nice things for people and animals and the environment. I'd do dental volunteer work as often as possible.

[Mr_Pat]

I would do random acts of kindness and help those in need.