Taxes on top of the Taxes. We will be left with 25
Post# of 87162
(Total Views: 623)
Posted On: 09/07/2021 7:30:02 PM
Quote:
Taxes on top of the Taxes. We will be left with 25-40% of our gains.
Or....... as I posted previously, you adopt the smart tax-avoidance strategies of the very rich.
1) You don't sell any of your valuable UNVC shares and just let them grow/appreciate over time.
2) You transfer some of your valuable UNVC shares (e.g. worth $5 million) to Interactive Brokers and use them as collateral for a SBLOC loan.
3) You take out a loan for $1 million at Interactive Brokers (for less than 1% interest) and live on that.
This strategy is exactly what many rich people do to get money and avoid big tax bills.
Of course, we have to see what Biden comes up with for new taxes by the end of the year. But I have read that many of his more extreme proposed tax increases may now be off the table.
Wealthy Lobbyists Have Already Slashed Biden’s Tax Reform by Three-Quarters
https://nymag.com/intelligencer/2021/08/wealt...erate.html
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