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Business & farm
@Hautehead wrote:Goal: 2 year plan to gain 20% ownership by the end of year 2. Profit sharing will be automatically rolled into purchasing up to 200,000 shares of a 1,000,000 share company at $1.30 per share.
Go to a good tax professional.
It is crazy to be planning something complex involving hundreds of thousands of dollars without sitting down with a good tax professional that look at all of the details.
And assuming you mean retirement accounts when you are referring to "pre-tax" and "profit sharing", that further complicates things, including the fact there are limitations for contributing to retirement accounts.
Again, go to a tax good professional.
‎November 1, 2020
1:49 PM