Here's Blog Quote #639...
"A tax problem- is the best problem to have."
-John 'Duke' Kinney, insurance legend
The tax 'problem Mr Kinney was talking about came up in context over a discussion of hitting the lottery or coming into an unexpected windfall. It's an exercise in the mind--immediately thinking of the negative tax cost, versus the positive pondering-of receiving some good fortune.Glass half full or half empty?
Another incident of a nice tax problem-- is when people say they had to pay the government a ton of money in taxes. The discussion of how much is a fair rate to pay for your wages, is always on the table.
Regardless, the having to pay a decent amount in taxes-- is usually a direct correlation that they had a pretty solid year, income wise.
Personally, I'd take the $88,000 winning lotto ticket, and gladly pay back $35k to Uncle Sam. It's still a net $53k-- for the good guys...
That's my view...what say you?
Huntington Bank Life Event Planning Educator
2 hours ago