I'm about to inherit .85% of 50 million thanks to owning

/biz/ is incapable of being your accountant in this situation, I fear.

>>1408433
You'll probably be faced with the most severe tax in this scenario. In most states it's 100% for Business Inheritance Buyout Staking Venture Gains Capital tax. So you won't end up with much.

>>1408437
Ignore this idiot.

BIBSVGC tax is never 100%, at most you're looking at 85-90%. What state are you in OP?

>>1408433
85% or .85% (i.e. 0.85%)?

Anyway we're not your accountants or tax lawyers, go seek professional advice.

>>1408433
It depends on how the money is registered as. If it's a trust fund then the govt touched none of it , if otherwise, California had some of the highest tax rates. You're looking at somewhere between 32% and 36.4%. That's taxes alone, transfer and commission from (((banks))) will be less than 1% but still.

I'm not In taxes but I'm a CPA. I can tell you it all depends on how the 7.5Mill gp is registered as.

You'll likely have to fill out its papers since this is aboce a 14.7k inheritance (yes that's the meme threshold)
I suggest you seek out a local or trusted accountant, not a lawyer even though they made the terms of the will they don't know shiit
You'll be lucky to see 6mil

>>1408452
>>1408437
Are you folks in high school because this is the most meme advice I've ever seen in this Bangladeshi trump coin 4D textile jpeg trading website

>>1408478
I'm a 46 year old tax accountant just sharing my experience with this sort of thing. I see it day in and day out and usually the tax rate is 100%. When you grow up you'll learn.

>>1408438
I'd love to know where you're paying as little as 85% BIBSVGC tax because the lowest rate in the 50 states is 99.82% in Ohio.

>>1408506
honestly, i wouldnt be too surprised if he doesnt get much either considering he lives in california.

>>1408476
>thats the meme threshhold.
Neat. I'll be sure to mention my inhertances are only 14.6k if I decide to funpost ever

25 million give or take

>>1408437

>>1408438

>>1408506


what the fuck are you talking about.

>>1408433
What if you move in a different country and resign your citizenship?

>>1408506
>accountant
>Not knowing about the triple Zimbabwe with Irish and Vietnamese kickers for BIBSVGC tax

how do you justify your $50 fee