diff --git a/Lotto-Payout-Taxes%3A-What-You-Need-to-Know-Before-You-Cash-In.md b/Lotto-Payout-Taxes%3A-What-You-Need-to-Know-Before-You-Cash-In.md
new file mode 100644
index 0000000..d79cab0
--- /dev/null
+++ b/Lotto-Payout-Taxes%3A-What-You-Need-to-Know-Before-You-Cash-In.md
@@ -0,0 +1,3 @@
+When discussing winning strategies, it's critical to consider how to prepare for potential victory. Winning a lottery can create life-altering changes, and tons of winners find themselves unprepared for the abrupt shift in life-style. Preparation can encompass anything from understanding tax implications on winnings to focusing on monetary literacy. Developing a plan for successful can contain setting apart a portion for financial savings, investments, and even philanthropy. Ensuring that financial management accompanies success can result in long-term advantages rather than fleeting wealth. Thus, an essential a half of the profitable technique involves thorough preparation for the aftermath of success.
+
+When you declare your lottery winnings, the lottery organization will sometimes withhold a portion of the prize for federal taxes before the payout is issued. For winnings exceeding $5,000, a compulsory withholding of 24% for federal taxes applies, which might considerably scale back the amount distributed to the winner instantly. It's necessary to notice that this is solely an initial withholding
\ No newline at end of file