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Politics : Politics for Pros- moderated
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To: Jorj X Mckie who wrote (417929)3/21/2011 6:24:59 PM
From: skinowski  Read Replies (1) of 794032
 
people owed hundreds of thousands of dollars to the IRS because they had a momentary paper gain

I know of some horror stories. People would exercise options, or just book profits and reinvest them into other high fliers - until eventually the music did stop. Not only they suffered losses, but also got stuck with huge tax bills.

A young fellow, the son of friends, received 400K in options as a sign up bonus. Eventually, by 2002 they became worthless. But some of his friends actually cashed them in and "diversified". That was a big mistake.
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