Quote:
Originally Posted by Dpeck100
Sure thing.
The top estate tax bracket used to be in the 55% range and then with the exemption you would net about 50%. Obviously many have used fancy estate planning techniques and altered this some but the point is the same. If you are mega rich a huge chunk is being confiscated when you die. If Bieber died tomorrow his estate would owe 101.44 million using the 265 estimate. Might as well blow some of the dough on whatever you want. On items like this the higher the price goes the more exciting it becomes so it is a win win. If it goes up in value great. If it goes down no big deal.
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I wonder how it would work out if someone claimed a card sale like this under capital gains.