On Tuesday, a lucky South Carolinian bought the winning ticket for the $1.5 billion Mega Millions jackpot. The winner might be dreaming about a private island and mega-yacht to rival Richard Branson’s, but they must also make some big financial decisions and understand certain tax implications of the win. Let’s look at what happens after a lottery win.

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An individual’s motivation for making a charitable donation is not necessarily the charitable deduction.  Nonetheless, taking advantage of the deduction is a nice benefit.  Not all charitable donations; however, qualify for a charitable deduction.  The following tips will help ensure the donation qualifies for the charitable deduction: Continue Reading Donations that Qualify for a Charitable Deduction