Wakelaw2006
Well-known member
$63 million or so, leaving you with a net of $87-ish million. For someone who is very charitably minded, it is clearly the best play from a tax perspective.
There are definitely ways to help minimize taxes on wealth transfers to family and/or friends (it's basically what I do for a living), but nothing really easy like donating a boat load to charity. Let's say you take the cash option of $300 million and keep all of it. You pay around $126 million in income tax, leaving you with $174 million or so. Then let's say you want to give away $50 million to friends and family (for the sake of argument, let's say it's just to people in your generation or one lower so that we're not dealing with generation-skipping transfer tax on top of gift tax). If you are married, assuming your spouse consents, you can give away around $10.5 million without paying gift tax. But, you will pay gift tax of 40% on the $39.5 million, so giving away $50 million actually costs you around $65.8 million. We have plenty of tricks to transfer wealth in ways that minimize tax, but there's virtually no way (other than giving all to charity) to get around transfer taxes when you have hundreds of millions of dollars.
Acknowledging that I don't know shit about taxes....I still would like to say I find them to be complete bullshit for certain things.
Also, assuming you win....how do you find the right person to help you handle the new found wealth...meaning someone who won't dick you over for millions and/or screw up your taxes so you get in trouble.
Acknowledging that I don't know shit about taxes....I still would like to say I find them to be complete bullshit for certain things.
Also, assuming you win....how do you find the right person to help you handle the new found wealth...meaning someone who won't dick you over for millions and/or screw up your taxes so you get in trouble.
i'm sure she'd be thrilled to have a gigantic reminder of the time you were unfaithful with 2 prostitutes.
You know this was a joke right?
1. Kegerator thats filled with Coors Light
2. Toyota Supra tricked out to the exact spec that Paul Walker's has in the first the Fast and the Furious
3. Pay Asa Akira to come with me for a month long globe trotting vacation
I was thinking more of a globe trotting tour of different "actresses" around the world, but yeah his head in the right place.
Also would you post on the boards anymore if you won? Or would you be too cool and awesome to give a shit about this place?