Quote:
Originally Posted by Tmarkwald
I understand what you mean, but that should not deter a move to TV. In the unlikely event that even happens it will affect so few people here as to be a non-issue.... And, as a word of advice, don't post any of the news articles referencing this as the moderator will ping you for it as being political.
|
Thank you for the advice.
My prior post was not directed to what some financially well off current villagers may face tax-wise from assets sold at seven figure gains on an ongoing basis. My post was directed at prospective retirees, likely small business people who have planned to sell their businesses valued say from one to five million dollars and after paying 20% federal capital gains tax plus whatever state income tax might be applicable retire and live off the proceeds until age 94 or 100. It would be a once in a lifetime sale situation. They shall now need to recalculate their plans if LTCG taxes are grossly increased. My post was a heads up to these people and based on their need to face a new reality.