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I didn't say I paid cap gains taxes every year, I said I paid taxes every year. In the post you quoted it actually said no cap gains
In the original discussion between you and freemkt, cap gains was being discussed. Guess I missed the rather subtle shift where you went from cap gains to property tax.
In the original discussion between you and freemkt, cap gains was being discussed. Guess I missed the rather subtle shift where you went from cap gains to property tax.
It really wasn't subtle
Quote:
Originally Posted by freemkt
They would have no TAXABLE capital gain hence no TAX.
Quote:
The would have paid tax every year. Income or capital gains? No but that doesn't mean no tax. A single person would have a taxable gain in that scenario
Are you just guessing, or have you done the present value calculations? If you did the calculations, what discount rate did you use?
What I am saying is if you are say 60, you may not live for 20 years (which is about the average lifespan) so take about 50% of a 300 million lotto jackpot (or $150) as a lump sum vs. getting about 6.1 million a year after taxes through installments. After 20 years you would have been paid a net $120, so if you die after 20 years, you effectively lost 30 million. I am not using discount rates, and present value/future value. It is complicated as you would need to run the present value for 20 years on each of the seven million you would have earned.
My former employer pays tax on his home every other year, I showed him how to get an income tax credit in the years he doesn;t pay property tax Saves him about $1,000 every two years.
I didn't raise opossums, I raised sugar gliders. My marketing efforts did not contribute to my success in developing a successful business. The fact I had a cage in my car, had a flat, a pet store owners stopped to help, saw the cage, inquired and wanted to do business has zero to do with my marketing, business, business plan etc. I got lucky and made a fair amount of money because of it
You could also have been a barista with a flat tire. Then your flat tire would have produced nothing except someone to help you with your tire. That you were skilled with sugar gliders is a result of your own work.
Your success was no doubt assisted by the chance flat tire encounter. But one of the secrets of success is to be in good position to take advantage of good fortune.
You could also have been a barista with a flat tire. Then your flat tire would have produced nothing except someone to help you with your tire. That you were skilled with sugar gliders is a result of your own work.
Your success was no doubt assisted by the chance flat tire encounter. But one of the secrets of success is to be in good position to take advantage of good fortune.
Or a barista could have stopped to help me. The assistance of chance is just as key to the scenario as my skill set
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