Those AIG guys just can’t win. The TaxProf Blog has reviewed two analysis of the recent anti-AIG bonus legislation. According to some commentators, people receiving AIG money will still need to calculate their taxable income assuming the bonus was received. Considering that the Alternative Minimum Tax is implemented and accounting for the impact of state and federal obligations, some recipients will be effective taxed at 130%.
Essentially, they lose money even if the bonuses are accepted. Its damned if you do, damned if you don’t. Talk about taxes choking wealth!
Click here for the story.
Best,
James
Like DINKS? Subscribe!
Subscribe to get the latest DINKS Finance content by email.
DINKS (Dual Income No Kids) Finance is a blog discussing personal finance for couples. While by no means financial experts, we own a variety of assets including real estate and stocks. We've been up to our eyeballs in debt and have made tons of financial mistakes. However, we've successfully retired that debt and we both do learn from our failings. We hope that our voice in this blog can help others in achieving their goals!
{ 0 comments… add one now }