Quote:
Originally Posted by Barry-xlovecam
I was brokering large sums of mortgages around 1980. You live in a nickel and dime world I can see that clearly.
$100K is chump change. Really. Real businesses do that in less than a day, some in less than 1 minute.
Retirement money basis' are tax differed or already taxed once (and non taxable again) -- anyone that has retirement funds would know that.
|
Here is the thing though, average household income in America is just over $50k. So, on a small business level, maybe most webmasters are chumps next to GE or whatever, but $100k is money in America in 2017. Not necessarily sophisticated enough money to know how to do all the tricky stuff for taxes, so a straight up break actually is beneficial for people at the $100k level. People paid enough to have high tax bills but not enough to get fancy.