Powerball Winnings? What Would YOU Do?

The big news over the weekend is that someone somewhere in Indiana has won a hefty Powerball jackpot. Of course, the next big question becomes: What to do with all of that cash?
There are two main options: take a lump sum, or take an annual payout. Many people actually go for the lump sum; few consider the annual payout. But as Kelly the Tax Girl points out, taxes take a big toll in that lump sum Powerball payout:
The lump sum option requires the payment of taxes upfront before a pay-out (withholding is required, usually at the highest tax bracket) …read more