Post by Bart on Jul 21, 2004 21:48:18 GMT -5
TEXT ;D
Hi everyone,
I have seen previous posts on the short term and long term tax calculations based on CMKX providing future sustantial capital gains.
I found a link to a chart service listed from Spring of 2003 that will help you calculate to some degree what we will be paying Uncle Sam.
Here is the link:
www.moneychimp.com/features/capgain.htm
(FYI) to find out YOUR Federal Tax bracket percent, click on the TAX BRACKET word and it will take you to another page.)(Then go back to the chart)
Here is an example of buying 10 M shares at .0001, then selling the same shares at .25 (twenty five cents).
Initail COST: ($1,000.) SELL Price: ($ 2.5m )
SHORT TERM Federal
Federal Taxes: 624,750
Clear: 1,875,250.
LONG TERM Federal:
Federal Taxes: 374,850
Clear: 2,125,150.
If the link works, this should keep most of you fellow CMKX'ers busy for a little while OR make your decision making processes a little easier down the road !!!!
Good Luck / GO CMKX !!!!
Hi everyone,
I have seen previous posts on the short term and long term tax calculations based on CMKX providing future sustantial capital gains.
I found a link to a chart service listed from Spring of 2003 that will help you calculate to some degree what we will be paying Uncle Sam.
Here is the link:
www.moneychimp.com/features/capgain.htm
(FYI) to find out YOUR Federal Tax bracket percent, click on the TAX BRACKET word and it will take you to another page.)(Then go back to the chart)
Here is an example of buying 10 M shares at .0001, then selling the same shares at .25 (twenty five cents).
Initail COST: ($1,000.) SELL Price: ($ 2.5m )
SHORT TERM Federal
Federal Taxes: 624,750
Clear: 1,875,250.
LONG TERM Federal:
Federal Taxes: 374,850
Clear: 2,125,150.
If the link works, this should keep most of you fellow CMKX'ers busy for a little while OR make your decision making processes a little easier down the road !!!!
Good Luck / GO CMKX !!!!