I have a solar roof that cost the last of my TSLA stock, ~$65,000: TSLA stock $0 dividends 30% capital gains or $65,000 * 30% = -$19,500 tax on sale Solar roof 14.1 kWh / day, January 2025 winter case: 14.1 * $0.12 = $1.69 day tax free $1.69 * 365 = $616.85/year, tax free Tax credit 30%: $65000 * 30% = $19,500.00 credit on purchase Moving my TSLA stock into a solar roof while the tax credit existed is projected to save nearly $620 per year in untaxed, cost avoidance. A no dividend stock has become a cost saving, tax-free success. To take home $620 per year, I would have to earn at least 14% more, average tax rate, to pay the taxes: $620 * 114% = $706.80 income earned Bob Wilson
Tax credit...... Proof positive that solar still has a 'promising future' - otherwise? It would be a tax BURDEN.
I'm still a working stiff, and only a partial burden to society as a military retiree. 'Per Diem' is what I'm concentrating on......
I disagree on the 'burden to society' part. Let any of these flabby sociopath hypocrites naysaying VA bennies, go thru boot camp in any of the services, as that's what they'd have to do (or their sons / daughters) if you or I didn't go in their place. Least they can do is look after our health problems in geezer years -- as that's the only 'burden' I'm declaring And you as a retiree: this non-retiree envies you the ability to fly MAC anywhere those C5s and C17s go. Bit of a wait sometimes... but free airfare's a pretty good deal for us mils and exes. When I flew RMS --> DOV on leave one summer... could get a little box lunch for your flight for $10. Bottle of water (remember when you could do that on all flights?) and were set for the 9-hrs atop the tail in a webbing seat, able to see the cargo floor thru a grate, ~20 ft below
If you move to Ontario Canada the square footage of your solar system gets added to the square footage of your home for tax assessment purposes. How's that for incentive?
That same 65k stock today would be worth well over 105k. Is that accounted for in your analysis? That's about 30k a year......
We have $45,000. In a solar T bill returning 4% per annum less 25% tax = $1,350. But we’re still paying our electric bill
I'm having some trouble following that, feel like a step might be missing. Did you mean you had capital gains of 30% (as in your invested basis was around $217k and you realized $282k at the time of sale)? In which case, that $65k of cap gain, assuming it was all held more than a year, would have all fallen in the 0% federal cap gains bracket if you filed as married filing jointly. If individual, or married filing separately, the last $16,650 of it would have been in the 15% bracket, incurring $2,497.50 of tax. Filed as head-of-household, just the last $250 of the $65k would have poked into the 15% bracket, incurring $37.50 in tax. Those are just federal numbers (the 2025 ones), as I'm not well-versed in your state or local income tax rates, if any. Or were you saying your total tax rate (federal+state+local) on the cap gain came to 30%, and the tax was $65k, meaning the cap gain was $217k?
I had to pay 30% capital gains tax on the sale of $65,000 TSLA stock. The $65k was the stock sale income. Bob Wilson
I'm still lost. If $65k was the stock sale income, then the capital gain was ($65k minus what you had spent to buy the stock). And the capital-gains tax would have been a percentage of that. I assume the "30% capital gains tax" figure was arrived at by adding the federal and state (and/or local) rates, given that the federal cap gains rate never goes above 20% and that bracket starts in the mid-six-figures. Unless the shares had been held for a year or less, in which case the gains would have been taxed at the normal income rates. I'm not a tax attorney, but if you ended up paying $19,500 in tax on sale proceeds of $65k, I would be strongly tempted to review that to see if an amended return with corrected math could get you a hefty refund. I'd want to scrutinize two things: If the sale proceeds were $65k, what was the actual capital gain? The answer isn't $65k, unless you got the stock for free. Once the actual capital gain is pinned down, what's the effective tax rate on it? The way the brackets work, it's not like crossing by one dollar into the 15% bracket means you suddenly pay 15% on all of it. You pay $0.15 on the one dollar that wasn't in the 0% bracket. So the effective tax in "the 15% bracket" is a lot less than 15% of the whole gain.
Worthy or not our retirements and other bennies remain at best, an underfunded liability. SS used to be funded, although for years the 'usual suspects' lied to our faces and told us it wasn't a 'tax.' Then? They raided the lockbox and left a bunch of worthless I.O.U.s. Now? They're LYING TO US AGAIN, insisting that SS isn't the world's largest Ponzi Scheme......
Only if we're saying everyone else whose portfolio includes Treasury bonds is an investor in "worthless I.O.U.s", right?
