Thursday, November 11, 2010
Sell now, save the tax expense
No matter how much money the wealthy have, they still avoid giving it to the government if they can...
Josh Lowenstein reported about it at CNET.com:
"The tax ramifications on the two sales are of special note given the savings and investment tax hikes that are going into effect in January. The maximum long-term capital gains tax rate will increase to 20 percent, up from 15 percent. In Ballmer's case, that ends up being a savings of around $67 million by selling now instead of January, assuming Microsoft's stock price stays the same."
