Quote:
Originally Posted by Gigi3000
Yeah, I've read that the market is suppose to take a dive. Banks removing lines of credit etc. I'll probably take lump sum if only have to pay $30000 in taxes.
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$30k is wrong
You will be taxed as ordinary income. So take your income today and add $200k and that is what you will pay tax on. Ask yourself how long will it take to make that money tax money back with the funds I have left over.
$200,000 - taxes 28%(est) $56,000 balance $144,000…….how long does $144,000 take to make $56,000