Net Of Tax
Categories: Tax
After tax. And yes, the taxman cometh. Nothing you can do (legally) about it.
You made $1 million this year. You thought you were rich now. But oh so not the case. Why? Well, first, you live in San Francisco. A crappy 1,800-square-foot home costs $4 million. The tax rate, Federal and State, was 50 percent. So you keep 500 grand. It's a good start. When you go to the bank for a loan, they tell you to have five more years like this and then call them when you want a loan to buy a decent home.
Net of tax. It hurts.