if i made $100 million, and tax is 35%, that means i loose $35 million, how do i keep the $100 million?
2007-08-21 07:09:56 · 9 answers · asked by Zebra S 1 in Business & Finance ➔ Taxes ➔ United States
I guess you'd just have to pay the tax and find a way to survive on the lousy $65 million you'd have left. ;-}
2007-08-21 08:21:54 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
If you made $100,000,000, and tax rate is 35% that means you'd pay $35,000,000 in taxes, and end up with $65,000,000. As far as keeping the money, wherever you had the 65,000,000 put into is where you would keep it. To keep $100,000,000 at a 35% tax rate you'd have to earn $153,846,153.85, and the tax on that at a rate of 35% would be $53,846,153.85, leaving you with a net after tax of $100,000,000.00
2007-08-21 14:20:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Simple, make $153,846,154
(and live in an income tax free state such as New Hampshire)
2007-08-21 14:14:04 · answer #3 · answered by Michael K 5 · 1⤊ 0⤋
You don't. Moving to Switzerland won't work because moving outside the country doesn't alleviate the tax due; even giving up your citizenship doesn't work.
2007-08-21 14:18:16 · answer #4 · answered by Box815 3 · 0⤊ 1⤋
you don't. the lottery boards will withhold moeny for the federal and state governments and you will have to file a tax return to get any of it back, assuming you don't owe more.
2007-08-21 14:17:35 · answer #5 · answered by extra_37 4 · 0⤊ 0⤋
Ah...the golden question. When you find the perfect answer please get back to me. I'm sure you already know the only two certain things in life and this is where it comes to play
2007-08-21 15:58:27 · answer #6 · answered by CSUflyer 3 · 0⤊ 0⤋
move to switzerland
2007-08-21 14:12:36 · answer #7 · answered by Anonymous · 0⤊ 1⤋
give me the money.... it will be an investment.
2007-08-21 14:14:25 · answer #8 · answered by Anonymous · 0⤊ 0⤋
just keeping more & more & more & more & more
2007-08-21 14:14:40 · answer #9 · answered by Anonymous · 0⤊ 0⤋