I will be taking a big hit....especially on capital gains taxes if they go to 20 percent. I have two properties up for sale right now which if I was to get lucky and I sold them at 20% reduction from the asking price......I will be looking at 15k more taxes just on the two properties which are for sale. If I cannot get the Bank to refinance next fall, I will be selling other properties....some which will bring very little liquid cash, but I will be paying significant capital gains. So, my family is facing significant tax increases whether I am alive or dead....the capital gains portion will be devastating on our bottom line........but if you ask me do I care.....not a bit.....not a bit.....those days are over......my greed and need to own or put more money in the bank are over.....even if I live three more years......I have found enlightenment....and I wish I found it 10 years ago......
Pensacola Discussion Forum