If he was paying capital gains tax, the 175K would likely be 15% of the gain, unless he was in an income bracket and had special circumstances that would have resulted in the 28% capital gains tax bracket. In a 15% bracket, he would have made about 1.2 million on the deal. I'm not sure when making a profit became a bad thing.
On Thu, Oct 16, 2008 at 1:40 PM, Jacob <[EMAIL PROTECTED]> wrote: > Someone I know sold his business and the land the business was on about two > years ago. I all heard him complain about was that he had to pay $175,000 > in taxes... hmmm.. If you paid $175,000 in taxes, how much did you get for > the deal? Give me a break > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:275017 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
