If you come into a lump sum of cash, you may be wondering whether it is taxed. Follow these general guidelines, and discuss them with your tax consultant.

Gambling:

If you happen to win money while gambling (this includes raffles and lottery winnings) that income is taxable as “other income”.  
If you happen to lose money while [...]

If you’re suddenly unemployed, you have a number of unpleasant choices to make. Can you keep your car? Your house? If so, for how long? Probably the most unpleasant choice: Which assets do you sell first to make ends meet? And how do you go about liquidating the savings you’d hoped to spend on something [...]