I'm currently a self-employed contract web developer living and working in Atlanta, Georgia. In September of this year (2008) I sold a website that I had created 14 months earlier for $40,000 to two individuals in the Ukraine. I do most of my business through an LLC registered in the state of Georgia, however payment for this website was made to me, not the company.
What kind of capital gains tax situation am I looking at here? Most of my research is pointing at the 15-20% mark but I've seen several mentions of exemptions for individuals to promote entrepreneurship and some other random things. Am I better off speaking to a lawyer about this topic or an accountant? Thanks!
What kind of capital gains tax situation am I looking at here? Most of my research is pointing at the 15-20% mark but I've seen several mentions of exemptions for individuals to promote entrepreneurship and some other random things. Am I better off speaking to a lawyer about this topic or an accountant? Thanks!
