Certified Business Brokers: 5 Months to Capital Gains Tax Hike

Five Months to Capital Gains Tax Hike

Sunday, July 11, 2010

The capital gains tax rate is presently at a historic low of 15%. On Jan 1, 2011, the rate will increase to 20% or more -- a least a 33% increase. Congress will finalize the changes to the tax rules this Fall and the increase may be higher. There are additional taxes that will likely kick in on Jan 1, 2011 as well. It is really the last minute for business owners who are considering a sale to get the business prepared and marketed with an objective of selling by Dec 31 2010. You need to act now in order to keep more of your share of the sale.

Labels: Selling a Business