Biden's proposed taxes will crush small business owners

[Blues Man]

What Bullshit

Small business will return to the rates they paid for 40 years

Except for Biden's new capital gains tax

Look it up.

When you sell a business everything above your basis is capital gains so you think it's OK for a person who has never once made 1 million dollars in a year to be taxed at 40%? So when a person sells a business and thsat sale pushes his income to 1 million dollars for that one event that will never happen again he will lose 40% of the profits of that sale to the ******* government. And what's more Biden wants to make this tax hike retroactive so no matter when it's passed ( if democrats win the senate it will be) any small business owner who sells even if it's before the law is passed will pay the 40% tax

Most small business owners sell a business to fund their retirement.

Bloomberg - Are you a robot?

www.bloomberg.com

 

[Blues Man]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the ******* government can take a second bite out of your ass.

 

[Mac1958]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the ******* government can take a second bite out of your ass.

Show me the actual legislation, and we'll discuss.

I'm not into crystal ball paranoia.

 

[Claudette]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

I agree and don't forget Biden wants a carbon tax. That baby will drive the price of everything through the roof.

If Biden is POTUS this country is in for a pounding.

 

[Blues Man]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the ******* government can take a second bite out of your ass.

Show me the actual legislation, and we'll discuss.

I'm not into crystal ball paranoia.

So then you realize that it's impossible to plan for the havoc Biden's proposed tax hike will cause.

This is what Biden says he will do. If the Dems win the Senate it probably will pass and it will be retroactive. You tell me I have to plan for it then you tell me you are unable to plan for it until it is passed.

Maybe now you see the position small business owners are in

 

[Likkmee]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

F'em. Walmart is building and Jeff has more Amazon distributions in the works.
Chicks w/Dicks is opening 3000 more feederies/training centers.They chose a multi-cultural spokesperson to ensure diversity.

 

[Mac1958]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the ******* government can take a second bite out of your ass.

Show me the actual legislation, and we'll discuss.

I'm not into crystal ball paranoia.

So then you realize that it's impossible to plan for the havoc Biden's proposed tax hike will cause.

This is what Biden says he will do. If the Dems win the Senate it probably will pass and it will be retroactive. You tell me I have to plan for it then you tell me you are unable to plan for it until it is passed.

Maybe now you see the position small business owners are in

Yes, I'm one, I have about 40 small business clients within my advisory, and I've written a couple of books and about 25 magazine articles on the topic.

You work within whatever system presents itself, and you plan ahead.

I'd be very much against a retroactive increase in taxes, but I'd have to look at the whole bill.

I've also learned the hard way that making assumptions and extrapolations about what the government is going to do or not do is a poor waste of time.

 

[Blues Man]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the ******* government can take a second bite out of your ass.

Show me the actual legislation, and we'll discuss.

I'm not into crystal ball paranoia.

So then you realize that it's impossible to plan for the havoc Biden's proposed tax hike will cause.

This is what Biden says he will do. If the Dems win the Senate it probably will pass and it will be retroactive. You tell me I have to plan for it then you tell me you are unable to plan for it until it is passed.

Maybe now you see the position small business owners are in

Yes, I'm one, I have about 40 small business clients within my advisory, and I've written a couple of books and about 25 magazine articles on the topic.

You work within whatever system presents itself, and you plan ahead.

I'd be very much against a retroactive increase in taxes, but I'd have to look at the whole bill.

I've also learned the hard way that making assumptions and extrapolations about what the government is going to do or not do is a poor waste of time.

but it has to be done to plan for contingencies.

Do you have any client that is negotiating to sell a business early next year? Will that sale result in a one time income event that results in a 1 million dollar income for that year?

What do you tell that client today?

 

[Mac1958]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the ******* government can take a second bite out of your ass.

Show me the actual legislation, and we'll discuss.

I'm not into crystal ball paranoia.

So then you realize that it's impossible to plan for the havoc Biden's proposed tax hike will cause.

This is what Biden says he will do. If the Dems win the Senate it probably will pass and it will be retroactive. You tell me I have to plan for it then you tell me you are unable to plan for it until it is passed.

Maybe now you see the position small business owners are in

Yes, I'm one, I have about 40 small business clients within my advisory, and I've written a couple of books and about 25 magazine articles on the topic.

You work within whatever system presents itself, and you plan ahead.

I'd be very much against a retroactive increase in taxes, but I'd have to look at the whole bill.

I've also learned the hard way that making assumptions and extrapolations about what the government is going to do or not do is a poor waste of time.

but it has to be done to plan for contingencies.

Do you have any client that is negotiating to sell a business early next year? Will that sale result in a one time income event that results in a 1 million dollar income for that year?

What do you tell that client today?

First, no, I don't have a client in that position. But all clients who are within 5 to 10 years or so of selling the business have been set up for minimal tax exposure in general. There's a process to this, beginning with to whom they want to sell the business (such as family, employees or third party). Then you proceed from there.

Hell, there are ways to have ZERO tax exposure when you sell a business.

I have zero (0) faith in politicians, and I don't give a shit which party they represent. So we just do what we have to do at the time.

 

[Care4all]

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

And why do you think the government stole the election for bigger government and higher taxes under Biden? If the average small town city cop makes $180,000 per year plus overtime and bonuses and a defined benefit life pension for twenty years of service?

Gun rights revoked by a gang of Democrat psychiatrists, psychologists, mental health workers, social workers, therapists and counselors, what happens to that 100K / year earnings potential over the average lifetime?

fyi
The average salary of a small town city cop in Maine makes about $ 45000.

 

[Blues Man]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the ******* government can take a second bite out of your ass.

Show me the actual legislation, and we'll discuss.

I'm not into crystal ball paranoia.

So then you realize that it's impossible to plan for the havoc Biden's proposed tax hike will cause.

This is what Biden says he will do. If the Dems win the Senate it probably will pass and it will be retroactive. You tell me I have to plan for it then you tell me you are unable to plan for it until it is passed.

Maybe now you see the position small business owners are in

Yes, I'm one, I have about 40 small business clients within my advisory, and I've written a couple of books and about 25 magazine articles on the topic.

You work within whatever system presents itself, and you plan ahead.

I'd be very much against a retroactive increase in taxes, but I'd have to look at the whole bill.

I've also learned the hard way that making assumptions and extrapolations about what the government is going to do or not do is a poor waste of time.

but it has to be done to plan for contingencies.

Do you have any client that is negotiating to sell a business early next year? Will that sale result in a one time income event that results in a 1 million dollar income for that year?

What do you tell that client today?

First, no, I don't have a client in that position. But all clients who are within 5 to 10 years or so of selling the business have been set up for minimal tax exposure in general. There's a process to this, beginning with to whom they want to sell the business (such as family, employees or third party). Then you proceed from there.

Hell, there are ways to have ZERO tax exposure when you sell a business.

I have zero (0) faith in politicians, and I don't give a shit which party they represent. So we just do what we have to do at the time.

you cannot set up any sale to take into account this situation.

We have been planning to sell for 3 years and had all kinds of planning in place and we ran dozens of stress tests on those plans.

There was no way to know about or even expect a doubling of the capital gains tax

 

[SweetTea]

How many small businesses will be left after the communists get done with the covid hoax? What do you think 2020 profit and loss statements will look like?

COVID Hoax?
And the whole world fell for it?

You are an asshole

And the whole world has been effected both economically and with deaths. The US is fairing much better than most economies around the world and our death rate per capital is behind several first world countries. I thought it was all Trump’s fault. You know, the Trump virus as ignorant sheep called it.

 

[Mac1958]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the ******* government can take a second bite out of your ass.

Show me the actual legislation, and we'll discuss.

I'm not into crystal ball paranoia.

So then you realize that it's impossible to plan for the havoc Biden's proposed tax hike will cause.

This is what Biden says he will do. If the Dems win the Senate it probably will pass and it will be retroactive. You tell me I have to plan for it then you tell me you are unable to plan for it until it is passed.

Maybe now you see the position small business owners are in

Yes, I'm one, I have about 40 small business clients within my advisory, and I've written a couple of books and about 25 magazine articles on the topic.

You work within whatever system presents itself, and you plan ahead.

I'd be very much against a retroactive increase in taxes, but I'd have to look at the whole bill.

I've also learned the hard way that making assumptions and extrapolations about what the government is going to do or not do is a poor waste of time.

but it has to be done to plan for contingencies.

Do you have any client that is negotiating to sell a business early next year? Will that sale result in a one time income event that results in a 1 million dollar income for that year?

What do you tell that client today?

First, no, I don't have a client in that position. But all clients who are within 5 to 10 years or so of selling the business have been set up for minimal tax exposure in general. There's a process to this, beginning with to whom they want to sell the business (such as family, employees or third party). Then you proceed from there.

Hell, there are ways to have ZERO tax exposure when you sell a business.

I have zero (0) faith in politicians, and I don't give a shit which party they represent. So we just do what we have to do at the time.

you cannot set up any sale to take into account this situation.

We have been planning to sell for 3 years and had all kinds of planning in place and we ran dozens of stress tests on those plans.

There was no way to know about or even expect a doubling of the capital gains tax

I don't know your full situation. But rarely have I come across a situation that didn't allow for tax mitigation. 20+ years.

 

[konradv]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

That situation could easily be made and exception. NEXT!

 

[Blues Man]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

That situation could easily be made and exception. NEXT!

and you trust a politician to do that?

 

[Claudette]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the ******* government can take a second bite out of your ass.

Show me the actual legislation, and we'll discuss.

I'm not into crystal ball paranoia.

So then you realize that it's impossible to plan for the havoc Biden's proposed tax hike will cause.

This is what Biden says he will do. If the Dems win the Senate it probably will pass and it will be retroactive. You tell me I have to plan for it then you tell me you are unable to plan for it until it is passed.

Maybe now you see the position small business owners are in

Yup. He will screw over all small business owners which are the back bone of the country. Biden is bat shit crazy.

 

[Nostra]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

You mean like what Trump did with his taxes that got all you libnut loser's panties in a twist?

 

[Mac1958]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

You mean like what Trump did with his taxes that got all you lignut loser's panties in a twist?

No.

You're consumed by partisan politics. That's your problem, not mine.

 

[Nostra]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

You mean like what Trump did with his taxes that got all you lignut loser's panties in a twist?

No.

You're consumed by partisan politics. That's your problem, not mine.

Gotcha. When Trump does it it is cheating on his taxes.............when anyone else does it it is "planning".

 

[22lcidw]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the ******* government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

You mean like what Trump did with his taxes that got all you lignut loser's panties in a twist?

No.

You're consumed by partisan politics. That's your problem, not mine.

The cities control paper money. You can't eat paper money to survive.