The store sold $1.7 million in lottery products in 2020, lottery sales records show. The Powerball drawing can be watched on local/national news or livestreamed via the Powerball website. Here I am with a $500 winner I can't even cash. At FindLaw.com, we pride ourselves on being the number one source of free legal information and resources on the web. You will also be required to fill out additional forms, depending on the amount of the prize. It is also important for the winner to consult with a lawyer, financial advisor, and tax professional to discuss the legal and financial implications that may be associated with claiming lottery winnings. The Massachusetts State Lottery also reserves the right to photograph or videotape all winners when they collect their prizes. Players have a choice of 1 to 12 numbers, or spots, and a variety of wagers starting at $1. Lottery Tickets; Massachusetts (MA) MA Lottery Information; Mass Cash Numbers; . Latest Winners for March 02, 2023. The Lotterys computer will select five numbers ranging from 1 to 35, and players must match these numbers exactly in order to win the jackpot prize. The Lottery offers scratch tickets with price points of $1, $2, $5, $10, $20, $30 and $50. Generally, the IRS will treat lottery winnings as ordinary taxable income, just like wages and salaries. This popular game features a choice of how many numbers to play along with a selection of play styles for different ways to make a winning match. The Massachusetts State Lottery stated players can manually select their numbers, or they can opt for a computer-generated Quic Pic ticket.Keno to Go Ticket Mode View Mode 18 25 45 47 56 5 7 29 50 75 Based on the last 100 games. I. 0% on top of the lottery prize amount. This page, Massachusetts State Lottery Locations, is offered by Massachusetts State Lottery; show more; Massachusetts State Lottery Locations Search by city or zip code . Will 1 numbers win anything in Powerball? By: Author Olin Wade (Remodel or Move Stuff). The store sold $1.7 million in lottery products in 2020, lottery sales records show. Federal taxes are 25% of the winnings and state taxes are also 25%, so lottery players in California pay a combined tax of 50% on their lottery winnings. The Mass Cash Lottery draw time depends on when the drawings occur. All Checks Cashed in Everett, Mass., is seen, April 21, 2022. All winning numbers for the Massachusetts daily number are available shortly after the draw has taken place. Massachusetts taxes of five percent are withheld on all prizes worth more than $600. Residents of Massachusetts who win a lottery prize must include their winnings on their Massachusetts tax return and pay taxes based on the relevant tax rate. What documentation do I need to claim a prize of $601 or more? The overall odds of winning are the odds of winning ANY prize in a scratch off game. This amount is subject to tax and may need to be declared to HMRC. Major lawsuit and I'm starting Monday Mass Cash also features an additional bonus spot, in which players can win up to $2,000. Where can prizes of $50,001 to $103,000 be claimed? To win the grand prize of $100,000, players must match five numbers. You have a 1 in 24.9 chance of winning a prize when the advertised jackpot is $40 million. Ali Jaafar was the only . It is important to check the local laws in your state before attempting to purchase tickets online. You should seek financial advice on which option is best for you. $365,000 a YEAR, FOR LIFE! To draw customers, the state Lottery Commission says 72% of lottery revenue goes to prize payouts. Meanwhile, in addition to Massachusetts sales tax, the government collects federal taxes on lottery winnings. The Lottery requires proof of positive identification for all prizes $601 and over. Massachusetts residents who purchase lottery tickets must also report any winnings to the Department of Revenue. Buying more than 1 ticket becomes expensive quickly.Texas Lottery ticket worth $250,000 was sold in Springtown, the winner will soon be $250,000 times richer than before. It is important for the winner to carefully review the exact policies and procedures for their specific lottery game and state before claiming their prize to ensure that their winnings are successfully claimed. The best time to buy a lottery ticket is when the jackpot is high enough to make it worth playing in your opinion, or when you have an impulse to do so. Mega Millions sales close at 9:59 p.m. on Tuesday and Friday. Cash winnings are included in federal gross income and so you must include it in Massachusetts gross income. If you are collecting a prize of more than $600, you must appear in person at the Lotterys Yawkey Way office located in Boston. As of June 2019, the prize had still not been claimed. Massachusetts residents will receive a form, 1099-G, from the Massachusetts State Lottery Commission that breaks down the details of the prize, including taxes already withheld, so it is important to keep this documentation when filing taxes. The next step would be to contact the lottery commission. You will then be issued a check from the retailer for the amount of the prize. All Lottery offices and claim centers are closed due to the COVID-19 pandemic and the stay-at-home advisory issued by the Governor. It is important to sign the back of your ticket to establish your ownership of the ticket. My belief was that people who were using check-cashing services may have been people who didnt have access to banking services or might be members of the immigrant community, said Morrissey, now the Norfolk County district attorney. Ultimately, it is important to check with your local government and consult a tax professional, particularly if you are a frequent scratch ticket player, to determine what your particular tax obligations may be. The following activities related to the Massachusetts lottery are prohibiting: State law also restricts these individuals from purchasing lottery tickets or receiving prize money: Penalties for these violations may include fines and imprisonment. Additionally, you may be subject to additional taxes may be due depending on your local regulations. If you're really lucky and win $50,000 or more, you'll need to visit the offices in Braintree to make your claim. The remote ticket cashing feature . During the COVID-19 pandemic, stores may have shortened their hours and some may sell lottery tickets until 10:00pm or 11:00pm. Learn more about FindLaws newsletters, including our terms of use and privacy policy. Additionally, it is important to note that you must be 18 or older to purchase or redeem any lottery tickets in Massachusetts. The Mass State Lottery is also encouraging customers to consider the many ways to play the lottery such as through Jackpocket, the official app of the Massachusetts Lottery, to play their favorite games safely and securely. It is important to remember that all winnings over $600 may be reported on your state income taxes. Fortunately, we do the hard work for you. If the prize is less than $600, you can cash it at a Lottery retailers. You can also cash in lottery prizes at any of the local Massachusetts Lottery retailers. The Massachusetts Lottery closes daily at 7:59 pm Eastern Time. TermsPrivacyDisclaimerCookiesDo Not Sell My Information, Begin typing to search, use arrow keys to navigate, use enter to select, Please enter a legal issue and/or a location, Begin typing to search, use arrow Complete To continue services at the local level; and. Disclaimer: Lotto Edge makes every effort to ensure reliable information, but errors can occur. Basically, any transaction that could be easily converted into cash is considered to be a type of cash advance. Gold Rush $10 - 779 Scratch Off Ticket. Depending on the amount of the winnings, you may also be required to pay state and local taxes. The odds of winning a prize in the game are 1 in 4.10. However, all states have different laws surrounding online lottery ticket purchases. In Massachusetts, lottery winners have several options when it comes to cashing their tickets. Bets are not effective until accepted by the Lottery's on-line computer processing system prior to the drawing of the winning . Ways to Claim a Prize 7. Yes, lottery tickets can be purchased online in certain states. What are gas prices at Buc EEs in Richmond KY? Depending on where you live and the lottery organization, you may also have to pay state or local taxes. Each MA game has its own odds of winning. This will help keep your money safe from creditors, frivolous lawsuits, scammers and nefarious relatives. Plus, watch Keno and Wheel of Luck in View Mode for a simple drawing . The aircraft start from Norfolk, MA and fly to the Massachusetts State House in Boston. You might be able to minimize the amount due by utilizing deductions, investing in annuities, or other strategies. Dozens of other Massachusetts businesses not licensed as check cashers but with names strongly suggesting they offer check-cashing services such as Alltown Check Cashing in Quincy and Plaisance Check Cashing in Dorchester sold more than $7 million in lottery products during the same time period, state records show. Consequently, Mass Cash has fourteen drawings a week. Although the chances of winning the jackpot prize are fairly low (1 in 324,632), there are plenty of smaller prizes available. Below you can find the numbers from the Mega Millions draw on January 27th 2023. . The state introduced a keno game in 2013 that offers players the chance . Additionally, certain withholdings and credits may be applicable, depending on how much you won and your individual tax situation. During the COVID-19 pandemic, stores may have shortened their hours and some may sell lottery tickets until 10:00pm or 11:00pm. They can also help you decide how much to take out of the winnings now, and how much to save for the future. If you have been charged with a crime related to the state lottery, you may want to speak with an experienced criminal defense attorney. In addition, the Massachusetts State Lottery recommends that you make an appointment if you have an annual gross income of more than $250,000. Scratch tickets are taxed differently by state. Updated: Jun 16, 2022 / 11:34 AM CDT. The state introduced a keno game in 2013 that offers players the chance to pick up prizes every four minutes seven days a week! The exact hours of opening vary by lottery game, but the Massachusetts Lottery usually offers sales for tickets starting just before 7:00 AM and ending at 10:45 PM. If you win more than $5,000, both state taxes and a federal tax of 24 percent will be applicable to your prize. This means that the amount you win will be added to your annual total income and your total income tax rate will be applied to those winnings. Please try again. Massachusetts (MA) Mass Cash Lottery Results and Game Details. Claim prizes between $601 - $5,000 securely & conveniently from the app. However, there are some days where the drawing may happen at a different time due to specific circumstances. Shed go on to spend the remaining $5 on two Mega Millions tickets purchased at a Lawrence gas station. Match all six numbers drawn and you'll win the jackpot prize! The odds of winning Mass Cash depend on the amount of tickets purchased and the total number of winning tickets in a game. . There was also a $100,000 lottery winner off of the game . If you are a serious scratch off ticket buyer, then you will not want to buy $20 tickets just to win $7,000 in that situation. Visit the Buy Tickets page for more information. You will also want to set up a trust to protect the assets you now have at your disposal. View all 7. You'll have one year after the date of the drawing to come forward and pick up your winnings before the prize expires. Thus, it is important to check with your local state government to determine if any additional taxes will still apply. Find out in the table below, you can also find out the drawing times so you know when to check if you're a winner! Therefore, while the Massachusetts Lottery does not authorize websites like Jackpocket to offer lotteries online, that . Ma is an abbreviation for Massachusetts, a U. S. state. "Cash for Life" tickets offer the chance to win $500 to $10,000 a week for life. Pick 3,4,5, Mega Millions, etc.) This is . Professional financial advice is key here, as its important to invest in the right places to help ensure you make the most of your money. Check casher lottery sales are a small fraction of the billions generated each year in Massachusetts through ticket purchases. If the amount you won is more than $600, your state may also require you to pay state taxes. Therefore, 3 numbers may be needed in order to win a prize in some games and lotteries, but on their own they generally do not. Additionally, if you owe any money to the IRS, such as unpaid taxes, they may garnish the winnings to cover the unpaid tax debt. Numbers Most Drawn for Keno ; 50, 5604, 25. According to the Massachusetts Lottery, these businesses have sold multiple winning tickets that won prizes of $1 million or more from July 1, 2021 to June 30, 2022: Ted's Stateline Mobil, Methuen . Twenty-two of the individuals or 13% cashed in more than 50 prizes in that period. Some businesses cashing checks and selling lottery products have been sanctioned in recent years for operating illegally. For prizes up to $50,000, youll need to make an appointment and present a valid photo ID. com) or by downloading the Massachusetts Lottery mobile app. This will protect you in the case of a lost ticket. You can pay for tickets with a debit card or personal check from any authorized agent in Massachusetts. Total revenue from the sale lottery tickets sold are divided as follows: The lottery commission is also authorized to conduct a lottery for the following reasons: On prizes over $600, money may be seized if the winner owes back child support payments. Depending on the amount of the prize and the state lottery, you may have the choice of receiving a lump sum payment or an annual payment over a number of years. The notarized letter should show that the claimant has been approved by the rightful winner to receive the prize. Tax rules for lottery winnings vary from state to state. Players can also sign up for the Mass Lotterys My Numbers Program, which will email or text subscribers with their winning numbers. Many states will also have specific rules as to when tickets must be purchased, so be sure to check the lottery rules of your state before purchasing a ticket. The app, Jackpocket, enables users to buy and scan tickets, join pools, and keep track of their lottery winnings. This includes an age limit on those who use playgrounds in Kansas, a prohibition on masked groups in New York (until the COVID-19 pandemic changed life as we know it) and a ban on using ferrets as hunting animals in West Virginia. I was almost broke.. You still have a 1 in 24.9 chance of winning a prize when the advertised jackpot is $1 billion. For additional information, see the links at the end of this article or see Details on State Lottery Laws., Massachusetts General Laws Chapter 10, sections 22 through 35 are known as the state lottery law.. At All Checks Cashed in Everett, one customer recalled spending her last few dollars during the 2004 Christmas season on the lottery only to score a rare $250,000 win. Therefore, the IRS can take a portion or all of the winnings to pay off any unpaid debt or taxes. In some states, you may be subject to withholding at the time of winning depending on the amount, with amounts over $600 required to have taxes withheld at the time of winning. You can also buy season tickets for Powerball. Home Massachusetts Blog The 10 Best Mass Lottery Scratch Tickets This Month! Required fields are marked *. For some who frequent licensed check-cashing stores, the gamble is worth it. You may also want to talk to a lawyer about getting a trust set up to protect your winnings. Contact the State Lottery Office. Just make sure to update your list as new games come out. The sale of Massachusetts scratch tickets ends 75 minutes prior to the stated closing time for the store or retailer where the ticket is purchased. If a player has won a draw-based game, such as Lotto or Powerball, then they will first be notified of the smaller prizes they have won via the lotterys website and their registered email address. Box 859036. Distribution of Lottery Revenue. Ultimately, when the time is right for you to purchase a lottery ticket is a personal decision, and should be based on the criteria you believe makes sense for the lottery that you are playing. How many times a week is Mass Cash drawing? Phone (781) 849-5555 Monday - Friday: . The Massachusetts Lottery sold its first ticket on April 6th, 1972, with seven people winning $50,000 each in "the Game" drawing. They will then receive their winnings by mail if the prize is under a certain monetary amount. Whats the latest you can purchase a lottery ticket? However, depending on the game or lottery you may be playing, 3 numbers may be the minimum number of numbers needed to qualify for a prize. Some lotteries allow ticket sales up to 15 minutes before the draw commences; for others, the cut-off time for ticket sales can be several hours ahead of the draw time. You may choose to start a business or establish a charitable organization, invest in real estate, or simply have fun and enjoy your financial freedom. The law of Massachusetts does not have any mention as to the prohibition of buying lottery tickets online in Massachusetts. For more information, call . Up to $50,000 - claim via postal mail. Mass Cash is a Massachusetts exclusive draw game with a $100,000 top prize and draws every night. No, Ma does not have an online lottery. Prizes worth $600 or less can also be redeemed at authorized retailers throughout Massachusetts, while any payout worth between $601 and $49,999 can be claimed at the regional offices in Boston, Braintree, New Bedford, West Springfield, Woburn or Worcester. Overall, Mass Cash has great odds for winning compared to other lottery games. The popular Mass Cash game was introduced in 1991 and the state joined Powerball in 1996. Your very own lotto edge. Drawings are held every Wednesday and Saturday evening at 10:59pm EST and are broadcast online via the official website. If you are a nonresident, you will pay the federal 25% flat rate plus the Massachusetts nonresident income tax rate of 6.2%. Players also can purchase the Doubler option, which doubles any winnings aside from the jackpot. In the UK, lottery winnings are paid out in the form of a lump sum or by instalments, depending on the particular lottery and the size of the prize. Any member or employee of the lottery commission; Any spouse, child, brother, sister, or parent living in the same household of any member or employee of the commission. It is important to check with your state government to determine what, if any, tax responsibilities you may be liable for if you win. Does North Carolina have a liquor lottery? A qualified financial planner can help you manage your newfound wealth to ensure you make the most of it. Mayfair Foods Inc., in the Allston neighborhood of Boston, sold almost $283,000 in lottery products in 2017, sales data shows. Cash option: A one-time, lump-sum payment that is equal to all the cash in the Mega Millions jackpot prize pool . Plus, you can win two prizes at. At least for the top 10 best games! Sales of scratch tickets, which account for nearly 70 percent . Knowing these odds can give you an advantage! If you want to know the best chances to win anything on your scratch off, the overall odds are the way to go. No matter what your prize amount is, if you have a winning lottery ticket, you can cash it in at one of the above locations. Generally, the process for claiming a lottery prize will involve mailing or bringing the winning ticket to the local lottery office, along with completing a claim form or other documents.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[580,400],'remodelormove_com-banner-1','ezslot_7',157,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-banner-1-0'); Depending on the size of the prize, you may be able to collect it at the lottery office or it may require a check to be mailed from the state lottery. In March 2020, the Division of Banks issued a cease-and-desist order to Low Price Convenience Store in Fall River for operating without a check-cashing license, state records show. Lawson says he can't cash his winnings, because COVID-19 closed down lottery offices. Additionally, if you play the lottery using your Mass Lottery app, you will be able to use credit cards to purchase your tickets. keys to navigate, use enter to select, Stay up-to-date with how the law affects your life. The simplest way to compare Massachusetts State Lotto scratch off odds is using the "overall odds". Depending on the type of lottery, the winnings may be withheld for a period of time until all the details of winners have been thoroughly checked and verified. You are here: Home / how to cash a $1,000 lottery ticket in massachusetts. For on-line tickets, the state collects a flat 5. Created byFindLaw's team of legal writers and editors document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); Your email address will not be published. Whether or not you must show your face if you win the lottery in Massachusetts depends on the lottery that you are playing. Finally, with your legal and tax matters handled, it is time to consider how to best use the money. For some who frequent licensed check-cashing stores, the gamble is worth it. (Garrett Adamtsev/Boston University/The Howard Center for Investigative Journalism via AP), Connect with the definitive source for global and local news, By HENRY KUCZYNSKI, ETHAN BIDDLE, ISABEL TEHAN and MELISSA ELLIN / Boston University. For instance, if you are playing a lottery game such as Powerball, you must match at least three out of the five white balls in addition to the Powerball number in order to win a prize. Braintree, MA 02185-9036. If you have a winning Massachusetts lottery ticket, you have several options for cashing your prize. The MA Lottery seeds this jackpot with $500,000, but ticket sales commonly drive the pool into the millions. This includes scratch-off tickets, lotto drawings, keno and virtual horse racing. What is the Jane Austen Society of North America. However, if the winnings are more than $5,000 then the federal income tax rate increases to 37%, as of 2018. Visit our attorney directory to find a lawyer near you who can help. $100,000. All Checks Cashed is one of nearly 150 businesses in Massachusetts currently licensed by the state Division of Banks to cash checks for a range of fees. Cumberland Farms operates 566 retail stores, gas stations, and a support system including petroleum and grocery distribution operations in 8 states: Connecticut, Florida, Massachusetts, Maine, New . The taxes on lottery winnings can either be taken out up-front as part of your lottery payout or you may need to complete a special tax return after you cash in your tickets to pay your taxes. The licensees must renew their license each year. Depending on the amount you have won, you may be liable to pay a higher tax amount than the average taxpayer since lottery winnings are considered non-recurring income. In Massachusetts, you can purchase lottery tickets from 05:00 AM to 02:00 AM the following morning, seven days a week. You can check the official drawing times, including cut-off times for specific games, on the website of the Massachusetts Lottery. Even if you don't live in Massachusetts or the United States, you can still participate in lottery games such as Mega Millions and Powerball. Mimi Turchinetz, assistant deputy director of the Boston Mayors Office of Financial Empowerment, labeled the lottery a rabbit hole for low- and moderate-income citizens. No one told you there was a better way. 5 of 5. Did you go for that flashy new game or was a certain ticket calling your name? Glittering, multicolored scratch tickets on a wall behind the cashiers station tempt customers most without a traditional bank account ready to pay steep fees to quickly get cash and maybe then try their hand at winning millions. Just pick five lucky numbers from 1 to 35 and pay $1 per play. The popular Mass Cash game was introduced in 1991 and the state joined Powerball in 1996. The amount taken out depends on the amount won, but normally around 24% of the prize amount. The Massachusetts State Lottery also offers several ways to buy lottery tickets . 1 in 324,632. Hiring an attorney and financial planner can help you ensure your money is protected and managed as you intended. The email address cannot be subscribed. Just be sure to stay within your budget and dont spend too much. Lottery's Double Dip Second., who won $100,000 on Scratch-Off. An unclaimed $100,000 Mass Cash prize won in a drawing last year is nearing expiration. Licensed check cashers are frequently located in low-income Hispanic communities where most residents have a high school diploma or less, U.S. Census data shows. What happens if you dont get your period with PCOS. Yes, Massachusetts taxes lottery winnings. In the eyes of . All told, fiscal year-to-date sales are up $21.3 million or 0.6 percent and the Lottery's estimated net profit is up $12.1 million. What is the time to buy a lottery ticket? A Month for 10 Years. 1. After the lottery office receives your claim form and confirms the authenticity of your winning ticket, you will either receive the prize money directly or you may be required to attend a prize award ceremony, depending on the size of the prize. Certain states require winners to appear on a live TV broadcast to claim the prize and this will require a certain registry process. Generally, lottery winnings are taxable income, which means that you must report them on your federal income tax return and pay taxes on the winnings. The balance to the State Lottery Fund for budgeted aid to cities and towns. *In some cases, these prizes may be lower than these published prize levels. You wouldnt be guessing which game to play. The clerk will scan the ticket and take the appropriate steps to finish processing the payment. 50 in taxes. $25,000 a YEAR, FOR LIFE! Information about claiming a prize online or by mail can be found on the lottery website at masslottery. If you have questions about the winning numbers, contact the Lottery at (781) 848-7755 or visit your nearest Lottery agent or Lottery office for the official winning numbers. At All Checks Cashed in Everett, one customer recalled spending her last few dollars during the 2004 Christmas season on the lottery only to score a rare $250,000 win. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[580,400],'remodelormove_com-large-mobile-banner-1','ezslot_20',164,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-large-mobile-banner-1-0');Furthermore, you are also free from paying taxes on any cash prizes you may win from scratch cards as these are classed as gambling winnings. The time is now 6:36 pm. State lotteries are state-run games of chance that often include both scratch-off tickets and drawings. Cash winnings include: Dog and horse track betting, jai alai, and other wagering transactions. BOSTON (WHDH) - A Massachusetts State Lottery "$5,000,000 100X Cashword" ticket sold at a shop in Marlboro won one lucky person a $5 million prize, officials said. All lottery winnings are taxed, meaning taxes will be taken out of the total winnings before the money is awarded to the winner. Prizes of $600 or less can be claimed at a Georgia Lottery retailer or by simply filling out the back of the ticket and mailing it to the above GLC P.O. Between $601 - $100,000 - claim at a lottery office location. Nobody has time for that. In Massachusetts, you can cash a $1000 scratch ticket at certain lottery retailers. You can find lottery retailers at most convenience stores, gas stations, and local businesses across the state. Fill out a winner claim form and send it along with the original signed ticket. As of 2020, regardless of the amount of money you win on any lottery game, you have to pay a 5% federal withholding tax plus a 6.25% Massachusetts state withholding tax. Search, Browse Law The Powerball drawing in MA is held at 10:59 p. m. Eastern Time (ET) on Wednesdays and Saturdays. Massachusetts State LotteryP.O. The odds of winning this prize are 1 in 3,287,525. If you win more than $5,000, the IRS will withhold 28 percent of your winnings for federal income taxes. Generally, most states open the lottery at least two times a day, but schedules may differ in holidays, special days, etc.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'remodelormove_com-medrectangle-4','ezslot_3',156,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-medrectangle-4-0');if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'remodelormove_com-medrectangle-4','ezslot_4',156,'0','1'])};__ez_fad_position('div-gpt-ad-remodelormove_com-medrectangle-4-0_1');.medrectangle-4-multi-156{border:none!important;display:block!important;float:none!important;line-height:0;margin-bottom:7px!important;margin-left:auto!important;margin-right:auto!important;margin-top:7px!important;max-width:100%!important;min-height:250px;padding:0;text-align:center!important}. Match at least three balls to win a payout, and all five to take home the jackpot. Massachusetts Lottery Player Claims $100,000 Mass Cash Prize. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,600],'remodelormove_com-narrow-sky-1','ezslot_26',168,'0','0'])};__ez_fad_position('div-gpt-ad-remodelormove_com-narrow-sky-1-0');With professional advice, the opportunities are nearly limitless. A lottery win is a once-in-a-lifetime event, so dont forget to treat yourself! This applies even if you are under the 12,500 threshold amount and are earning below the tax tax-free threshold, since doing so can help to limit the amount of tax that you may have to pay.