Want to make a grown man cry? Tell him the amount of his income tax bill (after he was originally thrilled by a great profitable year). For the year 2013 there is an unbelievable increased top rate — 39.6% for taxable income over $400,000 if single, $450,000 if married. Ouch!
Wait. Joe is old enough to think about his estate tax liability (top rate of 40%). Joe knows numbers... make $1 million dollars and the IRS takes $400,000 (rounded), leaving $