vh2000

I may be mistaken, perhaps someone could correct me, however, are your final calcs correct re. Net Profit (gain)?

ie. 508,500 – 477,000 + 9,000 + 400 = $40,900

Taxable gains : 40,900 * 50% = $20,450 … tax at 48.5% = $9,918 (my hubby has 99% ownership, he is in high tax scale)

NET PROFIT : 508,500 – 477,000 – 9, 918 = $21,664…[Read more]