The government takes so much when you sell a business you busted your a#@ for.
2006-10-26 07:44:48 · 7 answers · asked by L-Rob 3 in Business & Finance ➔ Investing
No. Of course not. All an anuity does is spread the flow of money over a period of time, with interest. You still have to "pay your fair share." Death & taxes, ya know.
2006-10-26 07:48:53 · answer #1 · answered by jim 6 · 1⤊ 0⤋
See a tax accountant.
Tax is the rent you pay for living in a fine country. This doesn't mean that you must pay more than your share.
You may want to start another business to help with tax planning. Better you remain an entrepreneur than a fat cat feeder.
Good Fortune to You.
BTW: If you drop me an email, I'd be pleased to share perspectives with you.
2006-10-26 07:50:11 · answer #2 · answered by Smilin' Fred 4 · 0⤊ 0⤋
Actually, you had better pay a good portion on Dec 15 when your estimate is due, or you will be slapped with a penalty on April 15.
Taxes on the gain from the sale will have to be paid.
2006-10-26 07:52:46 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I suggest you consult tax an attorney and an investment firm immediately to see if there is anything you can put your money in to avoid tax. I know annuities are not the answer.
2006-10-26 07:57:36 · answer #4 · answered by spot 5 · 0⤊ 0⤋
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2015-02-06 10:01:45 · answer #5 · answered by Claudina 1 · 0⤊ 0⤋
The short answer is "No."
The longer answer is "No way in hell."
2006-10-26 08:02:39 · answer #6 · answered by Ranto 7 · 0⤊ 0⤋
No
2006-10-26 08:18:12 · answer #7 · answered by derek 4 · 0⤊ 0⤋