Tuesday, December 20, 2011

How much for taxes on $80,000?

I recently won a prize of around 80,000 and was told I will get a 1099 form and this would be treated as taxable income. I make around 50,000 a year from my regular job and taxes are already deducted from that... What portion of the $80,000 do I actually need to save for tax purposes?

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