Re: Mitigating capital gains penalties


"-linux_lad" <john@xxxxxxxxxxxxxxxxxxxx> wrote
That means I'm going to take home somewhere around 25k for eight weekends
and lots of late nights. That's a pretty harsh punishment for being
industrious, in my opinion.



There are people that don't make that in a year.


$162,000+ a year (after tax) isn't all that bad either. What's that -
like $250,000 gross?

Well, forty percent of my money going into a black whole is too much.


Then move. In Georgia the ground don't shake, and we are smarter than to
charge sales tax on a home purchase.


A reasonable tax would be two percent, a grossly unfair tax would be ten
percent, but forty percent is simply absurd. I do the labor, I take the
risk, and I suffer any negative consequences.


But you gain an annual amount of $162 THOUSAND dollars net after tax. Not
too many people are going to cry for you.



I hope I don't sound unreasonable,


Too late for that.



Taxes are part of the business you are in. Learn to deal with it or get out
of the real estate market.


--
Paul Thomas, CPA
paulthomascpapc@xxxxxxxxxxxxx







.

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