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demondemidi
4 months ago
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I sold TinyPilot, my first successful business
less then quarter mill after taxes.
wallawe
4 months ago
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This is capital gains, meaning 15-20% in taxes. Nowhere near half.
bagels
4 months ago
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20% + 10% state income tax for many here
tradertef
4 months ago
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Why is it capital gains?
lionhead
4 months ago
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Because he is either selling his shares in the company, or the individual assets owned by the company, either way it should be taxed as capital gains.
rexreed
4 months ago
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Asset Purchase Agreements are taxed primarily as income. Only a sale of the company ownership or equity would be taxed differently
ageyfman
4 months ago
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might have been QSBS, so no taxes < $10m
anonzzzies
4 months ago
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I moved country before selling my first business for that reason.
jejeyyy77
4 months ago
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spoken like an employee ;)
welcome to the world of capital gains and QSBS!
demondemidi
3 months ago
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Thanks I’m just a dumb kid.
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