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What do I need to know to avoid tax penalties on a large sum of money?

May 10, 2010 by  

Dear Bob,

What does a person need to do when they have an option to receive a 20-year payment amount of $10 million, or should they settle for a lump sum in any lottery and contest winnings?  What do they need to know to avoid tax penalties? Should  they open an offshore account with the lottery money? This option is always given BEFORE the person receives the money! I maybe on verge of major winnings!  Any advice or suggestions?

Thank You and God bless you! 
Stephen

Dear Stephen,

The best option is to receive a lump sum payout. However, the Federal Government is going to get its share before you see any money. After that, I would suggest you consider buying gold and silver and also a Swiss annuity. You may also want to read some information on offshore investments at The Sovereign Society website.

Best wishes,
Bob

Bob Livingston

founder of Personal Liberty Digest™, is an ultra-conservative American author and editor of The Bob Livingston Letter™, in circulation since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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