Part 8. The truth the American public should be told as soon as possible At the State level, taxation will more than likely be assessed per existing tax laws, and largely dependent upon personally reported income (see 50 State chart below):
Whatever your final tax rate, be sure to save a healthy portion of your profits specifically for eventual tax exposures (which you’ll be paying on a quarterly versus annual basis now), and always make sure you consult with your accountant or CPA as soon as possible to determine how best to move forward in a legal and ethical manner, so you can quickly pay your fair share but not a penny more.
Look, nobody wants to pay taxes, but everybody seems to end up doing so in the end; just keep in mind it’s far more important that you sleep well at night versus stressing out over ROI’s or profit maximizations, given how fortunate you were to receive these kinds of returns in the first place. Just keep everything in perspective and remember to enjoy the GCR/RV process… including the taxation portion of it.
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SUMMATION TREE OF LIFE
This money, for whatever heavenly or earthly reasons, has been placed in your care to help yourself, your family and other families. So always look to be of service and do no harm. For just as there will be many new choices to make post-‐GCR/RV in terms of lifestyle, there are also choices to be made in terms of who you will allow to participate in your wealth.
Meaning, you might need to reconsider everyone currently in your stable of friends and professionals given your newfound wealth.
Not only must your inner circle be familiar with all areas of the law, estate planning, tax, investment and diversification, but they also must understand the delicate privacy needs of high net worth and ultra high new worth clientele. As well as be in alignment with you morally and spiritually, sharing common values as human beings. Make sure to work slowly, always thinking about sustainability and protection of all your resources.
Listen before you speak. Remain patient, prudent and selective with all your words and actions no matter the chaos swirling around you—because as you have probably heard many times before, with great wealth comes great responsibility—well, great responsibility now falls squarely upon your shoulders.
Try always to remember that pure thoughts create pure results, while impure thoughts create impure results. It’s simple but practical wisdom. And while it is your new job to protect these assets, consider the task of blessing the huddled and tired masses with a portion of your wealth, seeking out the less fortunate in society and providing those in need with generous contributions, love and prayer… for God is watching. May your heart forever be filled with His infinite grace and eternal peace… in Christ.
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