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The FinanceFlick: Sold Your Property? Here’s How Solar Can Save Your Capital Gains
Welcome to The FinanceFlick! This is Ariadne, your go- to finance geek. So, you’ve just sold a $6M NY property — congrats! But before you start celebrating too hard, let’s talk about the elephant in the room: taxes. With capital gains proceeds like that, Uncle Sam is ready to take a hefty bite out of your earnings — something around $1.3M. That’s no small chunk of change, so what can you do to soften the blow? Is solar a good solution? Let’s explore.
The Tax Dilemma: Facing a $1.3M
When you sell a high-value property, capital gains taxes can take a significant toll on your profit. With a $1.3M tax bill looming, you might be wondering if there’s a way to reduce your tax liability without resorting to complex loopholes. The good news? Solar assets might be your golden ticket.
Why Solar Could Be the Answer
Imagine instead of just deploying that $1.3M straight to the government, you could get a 145% Gross ROI. That’s right — meaning you’d cover a big chunk (up to about 75% after a $25k reduction) of the taxes you should have paid and still walk away with a Net ROI of 45% over a six-year holding period. Sounds good, right? Here’s how solar can help make that happen:
