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Joined 1 year ago
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Cake day: June 13th, 2023

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  • Did I say zero revenue? I said didn’t make a profit. Lots of companies made money, but couldn’t make more money than they spent. You can easily have an investment that is valued high that you can’t cash out

    Let’s say you bought some stock now, at the end of the year it’s worth $1,000,000 and you get charged $150,000 in April. Big problem, the brokerages stopped allowing you to sell the stock and it crashed down, so now your GameStop stock is worth $100,000

    How do you pay?



  • Let’s say I give $100,000 to a friend that starts a start-up. You claim after some years that investment is worth $1,000,000 and want me to pay $150,000 tax

    I take out a loan for $150,000 because the startup didn’t make any profit. The startup goes bust. I now have a $100,000 loss and I paid $150,000 in taxes. Thankfully I can write $3000 off on my taxes every year until I die!