I Sold TinyPilot, My First Successful Business

Re:I Sold TinyPilot, My First Successful Business by demondemidi on Wednesday May 29, 2024 @03:56PM (#40516251)

less then quarter mill after taxes.

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Re:I Sold TinyPilot, My First Successful Business by wallawe on Wednesday May 29, 2024 @04:17PM (#40516495)

This is capital gains, meaning 15-20% in taxes. Nowhere near half.

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Re:I Sold TinyPilot, My First Successful Business by bagels on Wednesday May 29, 2024 @05:16PM (#40517113)

20% + 10% state income tax for many here

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Re:I Sold TinyPilot, My First Successful Business by tradertef on Thursday May 30, 2024 @01:29AM (#40520387)

Why is it capital gains?

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Re:I Sold TinyPilot, My First Successful Business by lionhead on Thursday May 30, 2024 @03:48PM (#40527864)

Because he is either selling his shares in the company, or the individual assets owned by the company, either way it should be taxed as capital gains.

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Re:I Sold TinyPilot, My First Successful Business by rexreed on Thursday May 30, 2024 @05:36PM (#40528977)

Asset Purchase Agreements are taxed primarily as income. Only a sale of the company ownership or equity would be taxed differently

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Re:I Sold TinyPilot, My First Successful Business by ageyfman on Wednesday May 29, 2024 @04:33PM (#40516703)

might have been QSBS, so no taxes < $10m

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Re:I Sold TinyPilot, My First Successful Business by jejeyyy77 on Wednesday May 29, 2024 @04:48PM (#40516853)

spoken like an employee ;)

welcome to the world of capital gains and QSBS!

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Re:I Sold TinyPilot, My First Successful Business by demondemidi on Friday May 31, 2024 @09:45PM (#40542179)

Thanks I’m just a dumb kid.

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Re:I Sold TinyPilot, My First Successful Business by anonzzzies on Thursday May 30, 2024 @02:13AM (#40520628)

I moved country before selling my first business for that reason.

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