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:
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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:
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Festival of Frugality #336 – Bee In Your Bonnet Edition | See Debt Run
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