New pickup shopping.

[YellowHammer]

Can I get it to show a loss on my taxes in the next 2 days? :D :D :D

[teakwood]

How much tax do you guys have to pay lets say on a 100k profit? you bill 400k and have 100k profit for example

[Southside]

It's farming - give me 6 hours.  :D

[Magicman]

Remember Guys, when you loose down to one million $ you are supposed to quit. 

[YellowHammer]

Let's just say that Uncle Sam taxes us significantly and painfully. 

I just ordered some pre pasteurized milk cows on Amazon Prime, hopefully will show up via UPS tomorrow. 

[Southside]

Well see - we have your necessary loss, all our milk is bottled raw...

[YellowHammer]

Come on!  Didn't you catch the pun? I worked hard on it! Pre "pasturized" milk, as in cows sold before they get to the "pasture?"   :D :D :D

Ands since they are from Amazon, I can return them if I don't like them.

[Southside]

I ruminated on it for a bit but for some reason it by-passed me it appears, seems I was in the left field  :D

[Larry]

I just wish I had to pay a lot more taxes this year.......  I'm just really patriotic.

[stavebuyer]

How much tax do you guys have to pay lets say on a 100k profit? you bill 400k and have 100k profit for example

It depends. Tax laws tend to be complex and 100K is sort of the threshold where they enjoy targeting you to "pay your fair share" and higher rates take a progressively bigger bite. Ballpark at 100K probably 35-40%, amounts above 100K moves you closer to 50%.

[SwampDonkey]

Yet the money movers pay a fraction of that. You can even borrow to invest and right off the interest to borrow. :

What a lot of people did up here was invest into RRSP's and that 'put off' the taxes until they are retired and less income. Trouble is, the tax is still owed, what was deferred, plus tax on capital gains when withdrawn. The bank holds about 40% for the government when you start drawing out. You'll make very little in the end because even if it was in a higher return fund, that means it's likely very volatile and will most certainly crash over the long haul, usually about the time you want it as it turns out. :D The bank will give you a bunch of statements quarterly and show % gain. Now take their commissions out of that, plus the tax and it's not as good as a 3-5 yr GIC that gets reinvested at maturity. Right now 3 yr GIC's are 5.5%. Savings accounts they have short term schemes for the 'simple' interest, that last 6-12 month terms before the interest drops back to 0.05% or less. Why not just put that interest on the existing savings account instead of having 2,5 or 10 different ones. I'm guessing it's some kind of loop hole in the laws for a money scheme for them. : 'Full disclosure'? :D :D :D

[stavebuyer]

The progressive rates and various schemes to avoid or delay them is why the US is bankrupt. Way too much capital is deployed in schemes to avoid and defer taxes rather than being invested to increase real productivity.