IF I RECEIVE 400,000 PROFIT FROM INVESTING, WHAT PERCENT WILL THE GOVERNMENT KEEP?

Someone told me I will have to give 30%. Is which true?

{ 2 comments }

BD in NM May 10, 2011 at 11:42 am

It is dependent on whether the profits are long term or short term and the rest of your financial situation. As a rule of thumb 30% to 35% is probably good.

JRome3 May 10, 2011 at 12:34 pm

If Obama has his way you’ll be giving Uncle Sam more than half. LOL
Seriously though it will probably be over 30% because that much income puts ya in a higher tax bracket. If it wasn’t so much it would be about 20-25% but I wouldn’t be surprised if ya had to pay 35-40% on that amount. Welcome to the USA. LOL

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