Facebook is set to have its formal IPO this week and trading will likely begin on Friday.
It is one of the most anticipated initial public offerings in history and will make Mark Zuckerberg quite the wealthy individual.
His employees won’t turn out so bad either — although they’ll likely pay about 45% in tax on the shares they sell. That’s okay though, since the average tax hit is anticipated to be $1.1 million per employee. ($1.1 million is 45% of $2.44 million, which would leave the average employee with $1.34 million. Of course we know how averages work: some employees will have much more, some will have much less.)
One interesting tactic to avoid paying taxes on the IPO? Renounce your US citizenship. That’s what one of Facebook’s four co-founders just did.
While most of us won’t have to worry about selling our shares of Facebook at million dollar profits, here are some tactics to help you manage the money you do have:
Good Financial Cents | Don’t Pay Late! Different Ways to Set Up a Bill Reminder
Bloomberg | Tax Cheats Troll Public List for Dead Kids’ Identities
Five Cent Nickel | Seven Ways to Make Big Bucks at Your Garage Sale
Credit Card Smarts | Credit Cards 101: What is a Credit Card?
NPR’s Planet Money | How an Investor’s Gain Can Be Your Loss
AAAMP Blog | Money Proverbs – Funny Quotes and Sayings
The Simple Dollar | Unexpected Abundance and Clutter
CNN Money | Bye, bye unemployment benefits
Wealthy Turtle | 7 Mother’s Day Gifts That Will Guarantee You’ll Spend the Night on the Couch
Reuters | Bond funds globally see $8.55 billion, most in a decade
Consumerism Commentary | Wealthy Families Apply for Private School Financial Aid
Get Rich Slowly | How to Do a Wallet Audit
Free From Broke was featured in the following carnivals:
Carnival of Financial Camaraderie – Mother’s Day Edition | One Smart Dollar
Tax Carnival #102: May Tax Flowers – Don’t Mess With Taxes
Festival of Frugality #336 – Bee In Your Bonnet Edition | See Debt Run
Totally Money Blog Carnival #65 – Success, Wealth & Happiness Edition
Carnival of Personal Finance: The Color Wheel Edition | Money Talks
The Carnival of Financial Camaraderie #32 – Young And Thrifty
Thanks for including my article on the worst Mother’s Day gifts! I appreciate it.
No problem. I hope the moms out there appreciate it!
Thanks for the weekend reading list!