…was a large custom home and I got $2M for it. It was paid off, so I put that money in CD’s…. For example, just four years of rent is about $130K. That’s not small change. And it’s not tax deductable, so 100 percent of it is spent.
Dude, in 5% CDs, you’re earning $100K a year. I’m no math wiz, but in four years that should be somewhere around $400K. And you’re complaining about spending $130K over four years on rent? Sounds to me like you’re up $270K in four years with ZERO RISK and LIVING FOR FREE TO BOOT. Cue the violins and cry me a freaking river.
Seriously though, if you own your own business you can deduct a portion of your rent for your office. I did that after I sold my home and it has helped with the tax issues a bit.
Sorry to make light of your situation, but I couldn’t resist! You’ve got it made, dude! Congratulations!!!
