Powerball Jackpot Reaches $1 Billion, But Tax Consequences Can’t be Ignored
An Internal Revenue Service tax attorney has learned that ahead of Wednesday’s drawing, the estimated amount of the new Powerball jackpot total is about $1 Billion. According to the lottery, this makes it the seventh-largest prize in the history of this particular...
Estimate Predicts 10.5% Cost-of-Living Adjustment for Social Security Recipients
Because of the past few years’ skyrocketing inflation rates, those who draw Social Security are in line to receive a cost-of-living adjustment in 2023. The increase is estimated to be approximately 10.5 percent. Any tax attorney in San Jose would probably agree that...