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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I took over 421,000.00 from my profit sharing and paided

Customer Question

I took over 421,000.00 from my profit sharing and paided over 96,000.00 in Federal taxes, I used the money to build a new house in Pennsylvania, in the Poconos., when I got my w2 form, I took it to my tax guy, he went through it and told me that I had to pay over 100,000.00 in taxes, I thought that if I use the money to buy or build a house that I would get some of that money back. Can you help me with this. Elliott from New York City.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  ScottyMacESQ replied 1 year ago.

Thank you for using JustAnswer.

I'm sorry to hear about your situation. Why did you think this? That is, were you basing this on a specific tax strategy that you read about or were advised of? What would that strategy be (so I can analyze it and see if it would apply in your situation)?

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