Financial experts predicted Jeff Bezos’s move to Florida would pay off handsomely—and they were right. So far, the Amazon founder’s tax savings have been astronomical, worth an estimated $1 billion this year alone.
Financial experts predicted Jeff Bezos’s move to Florida would pay off handsomely—and they were right. So far, the Amazon founder’s tax savings have been astronomical, worth an estimated $1 billion this year alone.
That is not how this works, any capital gains (which IS the asset values increase) above $250,000 would be subject to the levy regardless of the individuals federal capital gains tax rate.
Your example mostly holds up so I’m not sure if you simply made an error here as you do seem to have a grasp of it.
You’re right. I changed my example numbers halfway through writing the post to make it more clear. I thought I got all the old references. I missed that one. I’ve removed that line now to make a fully accurate post.