Ouch. Sorry to hear about it!
There are some highly excellent bits on the topic of understanding the
ins and outs of options at:
http://www.usenix.org/events/lisa00/invitedtalks/rochlis.pdf
which in turn points you to:
http://www.rochlis.com/options/
Jon Rochlis, who I remember from the old Project Athena days at MIT,
is getting a degree in Financial Planning, and his invited talk at
LISA 2000 was one of the high points of the conference. Check it out--
not the usual stuff, and bring your calculator along.
Too little, too late, but since you seem to be the Serial Entrepreneur
type, it may help down the road. (But he was such a NICE boy, nobody
thought he was starting COMPANY after COMPANY in his basement behind
that white picket fence...)
_SRC
PS- NIF -> Now I'm FoRKed. Or something, depending on the dollar amount.
Virtual hugs, JB...
jb sez:
> ...
> Here's the scenario: sold company; owed taxes; sold new stock; this is a
> taxable event; owe still more taxes. In theory, sure, money already paid is in
> the basis. In fact, it doesn't turn out quite like that; all kinds of weird rules
> related to AMT, qual vs. non-qual, which forms everything was claimed on, etc. etc.
>
> This is no joke, Dave. I'm staring at a whopping liability this year for this very
> reason; I had calculated my tax liability for this year *last year* using what I
> thought I understood about taxes and basis. I overestimated my basis dramatically,
> due to various rules.
> ...
-- ======================================================================== Strata Rose Chalup [KF6NBZ] strata "@" virtual.net VirtualNet Consulting http://www.virtual.net/ ** Project Management & Architecture for ISP/ASP Systems Integration ** =========================================================================
This archive was generated by hypermail 2b29 : Fri Apr 27 2001 - 23:14:41 PDT