Current Events > $1 million or you are immune to paying any sort of taxes

(+) Yeah! (+)

Da million is taxed

If you choose immunity , den you don't have to pay any taxes ever again

Million because I could invest it and never have to worry about paying for taxes again.

If I take the no taxes I save money over time, but at nowhere near the rate of a $1MM investment (even with it being taxed), and certainly not enough to where I'm as carefree as I would be from the investments.

does this include "Nintendo tax"?

I barely pay any tax anyway.

The no taxes sound like a better deal, especially if I'm also immune to sales tax, which would be a significant amount of savings over the duration of my life.

According to Google, if I win 1 million dollars, I'll get about $440k after they tax it...

So fuck that, give me a lifetime of not paying any taxes on anything lol.

No taxes, assuming that is income, property, sales, etc. Itd take a few years, but Id eventually save over $1M easily. Itd also make purchasing new housing even more affordable which is a plus.

Taxes. Having a million dollars is nice, but at the end of the day, I can live more comfortably knowing I don't have to pay property tax, sales tax amongst other taxes. My province has a 15 percent sales tax, so that would save me hundreds of thousands of dollars over the course of my lifetime.

Immune to tax is the stronger option.

I think so too

No taxes please and thank you

I'd take no taxes.

Then I'd open up a business in which people can pay me to buy big ticket items tax free (like houses, airplanes, boats, etc). They 'give' me the money to do it and then I 'gift' it to the other party.

I'd only charge them half the tax rate they would normally have had to pay.

Tax free.

In the long run, you probably end up better off.

Even if you take the million, you'll clear about $400-500k, depending on where you live, and it'll put you in an elevated tax bracket for the rest of your life.

No taxes

We pay low six figures in taxes every year as it stands, so we'd come out ahead pretty quick

Most people will never get anywhere close to a million tax dollars spent in their life, so take the cash.

SilvosForever posted...

Most people will never get anywhere close to a million tax dollars spent in their life, so take the cash.

But it's after taxes, so it's really around $450k-ish.

And if you own a home, depending on where you live, that could be what you spend in property taxes alone over the life of you house.

Tax immunity.

I have a good job and own a property, I'll take the fuck the IRS card.

Take the milli.

Put the 500k in a brokerage and hold it there and pay 15% long term capital gains tax

Keep working your regular job.

g980 posted...

No taxes

We pay low six figures in taxes every year as it stands, so we'd come out ahead pretty quick

What the heck do you do for a living? Just curious.

Immunity to paying taxes might save me more throughout my life, but a good $700k bump now will easily be able to speed up my investments now. Money at a younger age is more valuable. There's also a good chance the $700k will save me more by utilizing tax codes and investing wisely.

I'd get take the mil, get taxed 40% of it here in CAN and I'd invest the rest of it in crypto.

emblem-man posted...

Take the milli.

Put the 500k in a brokerage and hold it there and pay 15% long term capital gains tax

Keep working your regular job.

Converse to that, you can do the same with all the money you save in taxes. My property taxes along are about $7k a year, add in the another $8k-ish in income tax, sales tax, etc. my wife and I pay, You're looking at about $15k that I could invest on an annual basis.

That's why this is actually one of the better either/or questions that's been asked on here.

While, yes, it's based in fantasy, it's also one that really has no downside answer.

Sansoldier posted...

Immunity to paying taxes might save me more throughout my life, but a good $700k bump now will easily be able to speed up my investments now. Money at a younger age is more valuable. There's also a good chance the $700k will save me more by utilizing tax codes and investing wisely.

Age is also a big factor as well.

My answer at 20 would probably be different than it is now at 45.

Easily tax free. I'm already wealthy, the savings will rapidly surpass a free million (even if that had been tax free, which the prompt said it wasn't).

If we were closer to that, taking the initial hit and investing would be worthwhile.

Mistere_Man posted...

What the heck do you do for a living? Just curious.

Total household taxes. Wife and i both make decent 6 figures, but nothing crazy

If you factor in state and property taxes you can easily be paying $100k in taxes with like $350k household income

We make a bit more than that with what i think are pretty standard mid-career tech salaries

g980 posted...

Total household taxes. Wife and i both make decent 6 figures, but nothing crazy

If you factor in state and property taxes you can easily be paying $100k in taxes with like $350k household income

We make a bit more than that with what i think are pretty standard mid-career tech salaries

Sounds like nice paying jobs, sorry for being nosy I apologize.

bigblu89 posted...

Converse to that, you can do the same with all the money you save in taxes. My property taxes along are about $7k a year, add in the another $8k-ish in income tax, sales tax, etc. my wife and I pay, You're looking at about $15k that I could invest on an annual basis.

That's why this is actually one of the better either/or questions that's been asked on here.

While, yes, it's based in fantasy, it's also one that really has no downside answer.

Yeah it will be person dependent for sure. 500k having 20 years of compounding interest is a situation that will be more useful for most people I think

emblem-man posted...

Yeah it will be person dependent for sure. 500k having 20 years of compounding interest is a situation that will be more useful for most people I think

I just think of myself, and with 2 kids on the cusp of potentially starting college (17 and 14), having the extra $15k in money that normally goes to taxes would probably help me more than investing 500k and waiting till I'm 65 to reap the benefits.

bump

Immune to income tax, property tax, sales tax, etc...? Much much better than the money.