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Post by bhuddason on Apr 2, 2005 0:18:17 GMT -5
Say there was a dollar a share buy out. You had 300 in a million shares and they gave you a million and you said thank you very much.
Would all but the 300 be taxable and would you say adios to about 1/2
Can someone smart with abunch of stars help me with this question?
a calmer and gentler
robzilla
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Post by liquidator on Apr 2, 2005 4:04:42 GMT -5
Your pretty much on target, they would tax us at about 50% with capitol gains tax, a share buyout would be a much sweeter deal.
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Post by sharejunky on Apr 2, 2005 10:18:26 GMT -5
Isn't it only on shares owned less than a year? Some have owned shares for awhile and I was under the impression the tax would be around 15% for those. Any thoughts?
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Post by liquidator on Apr 2, 2005 11:55:41 GMT -5
It's a 3 year period, to completely get past the capitol gains tax, each year the ammount owed drops by about 33%, if you liquidate more than $100,000 in assets your tax bracket jumps way up
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Post by saturn48021 on Apr 2, 2005 13:01:45 GMT -5
I thought your capital gains tax is 15%.If your income jumps up from this then your tax bracket for income will go up.
Sure if you make 48,000 a year and then the following year you yurn in 3,550,000 in capital gains,yeah right skippy your income is going to go up.
Now if your stock is in an IRA or a 401,you don't pay anything now.Great news then.
Saturn
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Post by saturn48021 on Apr 2, 2005 13:06:45 GMT -5
Only problem is if there was a huge buy out like a few people are saying,lol,then we wouldn't have to worry about taxes.We would all be in the cardiac unit of the local hospital.Myself,I would be six feet under and my wife would be partying with you great people.
Saturn
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Post by liquidator on Apr 2, 2005 17:19:00 GMT -5
The capital gains tax is 15% above your tax bracket, above 100,000 per anum your tax bracket gets much higher along with capitol gains tax. I recomment only takingout enough to keep you per anum below $100,000. The rest can sit fot 2 more years and avoid the capiton gains Waiting until the capitol gains tax expires woule be the bedt option and keep your disbursements at $100,000 or lest, this woulr ldea while not being beat to death in taxes.
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Post by ToddCT on Apr 4, 2005 8:11:44 GMT -5
It's a 3 year period, to completely get past the capitol gains tax, each year the ammount owed drops by about 33%, if you liquidate more than $100,000 in assets your tax bracket jumps way up Wrong it is a 1 year period for long term rates in the US Todd CPA |
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Post by ToddCT on Apr 4, 2005 8:13:33 GMT -5
Where are you guys getting these numbers from. I am a former IRS agent, and a CPA
the rules are
SHORT TERM GAINS (held less than a year) itis taxed at your normal rate, up to 35% currently (plus state taxes)
LONG TERM GAINS (held more than a year) taxed at 15% plus state taxes
THATS IT NOTHING ELSE there is NO 3 year period at all
T
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Post by azesm on Apr 4, 2005 8:51:44 GMT -5
Where are you guys getting these numbers from. I am a former IRS agent, and a CPA the rules are SHORT TERM GAINS (held less than a year) itis taxed at your normal rate, up to 35% currently (plus state taxes) LONG TERM GAINS (held more than a year) taxed at 15% plus state taxes THATS IT NOTHING ELSE there is NO 3 year period at all T (That's what I thought I knew...) Thank you, Todd!  |
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