Thread: Can a CPA or Forensic Accountant 'splain this...?
View Single Post
MotoSook MotoSook is offline
Somewhere in the Midwest
 
MotoSook's Avatar
 
Join Date: Oct 2001
Location: In the barn!
Posts: 12,499
So he pays 5% on the $460,000 profit = $23,000. He still profits $437,000 minus any other tax or fees. If he sold the building to you he profits $50,000.
Old 11-19-2009, 03:03 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #6 (permalink)