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RE: What you do with 10 million dollars? - 6/24/2008 8:55:13 AM
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youngartist
Posts: 1318
Joined: 3/21/2006
From: Central Virginia
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Come to think of it, what's tax on 10 million dollars? 11 million...
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RE: What you do with 10 million dollars? - 6/24/2008 9:34:08 AM
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Qtman
Posts: 9446
Joined: 3/21/2006
From: Crimson Tide Country
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You can probably count on between one third and one half for the taxes.
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RE: What you do with 10 million dollars? - 6/24/2008 11:41:00 AM
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Seaton
Posts: 1189
Joined: 5/12/2006
From: Mooresville, NC
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quote:
ORIGINAL: youngartist
Come to think of it, what's tax on 10 million dollars? 11 million...
On winnings of that amount, it would be a little over 50%. You would end up with close to $5m.
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RE: What you do with 10 million dollars? - 6/25/2008 12:03:51 PM
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cherish405
Posts: 32694
Joined: 4/11/2005
From: The Land Down Under
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I'd pay off debts, give money to my church, travel, help the needy and put the rest into investments.
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RE: What you do with 10 million dollars? - 6/27/2008 2:38:05 AM
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cheeky_monkey
Posts: 159
Joined: 6/18/2008
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After tithing, I would buy a house and set aside enough money for my kids to go to college and for us to live on and retire on. I'd yank my kids out of public school fast enough to make their heads spin and hire someone to help me homeschool them. After that I'd give a ton of money to organizations that feed the hungry, especially children. I might also adopt a few children and/or help other Christians with adoption expenses. I would help families with sick children pay for medical expenses if they don't have insurance or can't afford to do it themselves. I would also help my family and DH's family pay off their debts and put their children through college. I would buy a couple more dogs, and as soon as I finished potty training them I'd rip out the old carpet and replace it with new. I would go through whatever allergy shots it takes so I can have a cat. I miss having cats. :(
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RE: What you do with 10 million dollars? - 6/27/2008 9:36:45 AM
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DaveW
Posts: 4160
Joined: 4/12/2005
From: MD suburbs of Washington DC
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quote:
ORIGINAL: youngartist
Come to think of it, what's tax on 10 million dollars? 11 million... Charitable contributions are deductable, but expect an audit.
With 10 mil:
1) tithe to local congregation
2) hire a tax specialist
3) pay off debts
4) fund retirement plan
5) pay of children's debts**
6) the rest would go to various evangelical organizations, Tikkun would get most of it for outreach in Israel.
**That would be if I personally won the $$. If it was a lotto win, they each would be listed as co-winners so they could pay off their own bills.
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RE: What you do with 10 million dollars? - 7/2/2008 2:30:39 AM
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Covaan_Meshuga
Posts: 3408
Joined: 6/8/2005
From: a mother who let me live
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Waaalll, since I don't tithe, I would pay off the mortgage for my synagogue, pay off the mortgage for the church where I work, pay off our mortgage, and pay off my daughter's cancer surgery bills. I really am not sure after that, because between my husband and me, we have four children and nine grandchildren . . . .
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"Ladies and gentlemen, there are things that you will only be able to learn by the weakest among us, and when you snuff them out, you are the one that loses." ~~Gianna Jesson, 1977 LA, CA, saline abortion survivor
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