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One other thing is that Tax man takes ~25% (capital gains)
by maccman 16y ago
One other thing is that Tax man takes ~25% (capital gains)
- joelhaus 16y agoGenerally, short-term (assets held less than one year) is taxed at your personal tax rate. Long-term (more than one year) is currently taxed at 15%, but will revert back to 20% beginning in 2011. [EDIT: based on US law]
- vicaya 16y agoThat's why it's important to know about 83b election to cap the tax rate at 15%. Any start-up lawyer/law firm worth its salt would do this for you as part of the pile of forms to sign when you incorporate.