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Come on Down, Then Sell Your Hosting Company
Tue, 20 May 2008 10:55:00 -0400
This is a no-brainer that can be hard to do. Family, friends, schools, pets all figure into the situation. But is should be on your plate.
Here are some of the top rates for state income taxes; Vermont 9.5%, Oregon 9% and New Jersey 8.97%.
Now there are many other states with high state income taxes. The California State Motto is Eureka "I have found it!" is aptly stated. After all California has a 9.3% state income tax rate plus a 1% kicker imposed on taxable income over $1 million. If I read the tax codes right that equals 10.3%.
Since it makes my case, let’s look at the worst case. You net $500k from your hosting business. In California you pay about $45k in state income taxes and another $155k in Federal Income Tax. So 40% goes to the government. Not to mention FICA, 8.5% sales tax etc.
So you decide to sell the business, it sells for $5 million. In California that adds about $500,000 of your money to the state coffers. You get $500k less. Your retirement fund just dropped $500k. That Ivy League school for the kids is a bit tougher to handle.
Do some family planning. Move to Florida, it has zero, nada, and no state income tax. So does Alaska, Nevada, South Dakota, Texas, Washington and Wyoming.
Now the M&A Part – Buyers don’t make up for the sellers shortfall. It is just as easy to buy a company in Texas as in California. Think this one over for a while.
So talk to your attorney and accountant, make sure everything’s legal and makes sense. Then come on down to Florida a couple years before you sell. You could add some $600k to the retirement fund. Oh yes, real estate is a bargain since the bubble burst.
Written from Cape Coral, Florida - Rather than our old Milwaukee diggs (6.75%)
More about Tom:
Doug Loewe, Managing Director of Rackspace explained, ”This is a fantastic project which will harness bio-mass fuels to power the data centre. Rackspace is committed to being energy efficient and making a real and positive difference to the environment. We also recognize that customers are increasingly looking for suppliers who can help them meet their own environment related goals. By investing in this facility we continue to strive to exceed the environmental expectations of our customers while delivering their hosting needs.”
Ix web hosting review after 14 month hosted
Sat, 10 May 2008 19:38:18 +0000
http://www.ixwebhostingreview.org/ is ix web hosting review site and ix web hosting coupon site. It had been hosted with ix web hosting since 14 months ago, and running from ix shared hosting plan all this while. It had been a long 14 months of complete ix web hosting reviews. You can view the previous month ix ...]
Free Web Hosting eBook!
Sat, 26 Apr 2008 16:08:47 +0000
Just have a quick update for you for now. Just finished up putting together the first (of hopefully many more) web hosting eBooks for you to enjoy. The Best of the Web Hosting Show Guides is a collection of some of the most popular guides I have posted and talked about here on the podcast.
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