9. The Taxman Cometh
The Dude: “By the way, do you think that you could give me that $20,000 in cash? My concern is, and I have to, uh, check with my accountant, that this might bump me into a higher, uh, tax....”
The Big Lebowski: “Brandt, give him the envelope.”
The Dude: “Oh, you’ve already got the check made out; that’s great.”
—From the cult hit The Big Lebowski (1998)
The next Immutable Law of Investing is that only after-tax returns matter. After all, even “The Dude” is planning for his tax situation.
Everyone knows the joke about death and taxes. Taxes are inevitable. Roads don’t pave themselves, and teachers don’t work for free. Without taxes, the government wouldn’t have any revenue, and without revenue, there would be no public services. ...
Get Buy and Hedge: The 5 Iron Rules for Investing Over the Long Term now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
