2013 Tax Tips for Your Business
Capital Gains Exclusion Extended Through 2013
Although few seem to have noticed, in a provision of the American Taxpayer Relief Act of 2012, Congress extended the capital gains exclusion for a second time. This means that the effective tax rate of 0% on the sale of qualified small business stock (Section 1202 Stock) applies through 2013.
For stock to qualify, it must be purchased from a domestic C corporation engaged in an active trade or business (as defined by the IRS regulations); with gross assets that don’t exceed… Read more
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