For everyone that get's Stock Options at work.......
#1
05-14-2002, 12:13 PM
Join Date: Apr 2001
Location: Warner Robins, Ga, CSA
Posts: 5,939
Likes: 0
Received 0 Likes
on
0 Posts
For everyone that get's Stock Options at work.......
TIME TO FORK OVER SOME MORE CASH TO THE GOVERNMENT
Do you have any stock options at work. Are you participating in a employee stock purchase plan? About 10 million Americans do. As you know, you don’t have to pay any income tax when you exercise these options. You do have to pay capital gains taxes when you sell.
Well … the IRS has come up with some new rules. They want to get some money out of you when you exercise these options. Effective January 1, 2003 the IRS will start collecting payroll taxes on these options. That means the full Social Security tax and the full Medicare tax.
Remember … there is absolutely no limit whatsoever to the hunger the Imperial Federal Government has for the fruits of your labor.
Some of your Senators and Congressmen are working to thwart the IRS plans on this one. Perhaps you might want to let them know how you feel!
From www.boortz.com--today's notes.
Dan
Do you have any stock options at work. Are you participating in a employee stock purchase plan? About 10 million Americans do. As you know, you don’t have to pay any income tax when you exercise these options. You do have to pay capital gains taxes when you sell.
Well … the IRS has come up with some new rules. They want to get some money out of you when you exercise these options. Effective January 1, 2003 the IRS will start collecting payroll taxes on these options. That means the full Social Security tax and the full Medicare tax.
Remember … there is absolutely no limit whatsoever to the hunger the Imperial Federal Government has for the fruits of your labor.
Some of your Senators and Congressmen are working to thwart the IRS plans on this one. Perhaps you might want to let them know how you feel!
From www.boortz.com--today's notes.
Dan