BombOmOm@lemmy.worldtoAsklemmy@lemmy.ml•USA: Do I still file federal taxes if the federal government collapses?English
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1 day agoTesla is not Musk, yes companies are taxed differently than individuals. Notably by profit, not income.
Musk paid $11b in capital gains tax when he sold, that is how capital gains taxes work for everyone. Same as you and me.
Put a percentage of every paycheck into an index fund (ex: VTI) and sit on them for a few years. You too will have capital gains.
Average returns on index funds are 6%-8%/yr, compounding. They are a solid long-term investment.