The Tax Preparation Blog

Posts Tagged ‘tax preparer bond california’

Question: Why would Matt Murphy, the guy with Barry Bonds 756 home run ball want to sell. Keep it until Bonds retires?

If he sells it, he will be taxed on the money he receives. Think he better talk to a CPA, tax preparer or attorney before he sells it. He’s better off waiting, put it in a safe deposit box, then when Barry retires, sell it then. Having to give at least 40% to the government is ridiculous. Safe deposit box is cheaper and Barry is still playing ball.

Answer: He’s going to be taxed on the value of the ball, whether he sells it or not.

So he can’t afford to keep it.
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Better-than-expected jobs data boost markets

NEW YORK – The stock market had its first winning week in a month thanks to better news on the economy.

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