Call Us Now To Schedule An Appointment!
- +1 956-233-7841
secure plus financial
Capital Gains, A Retroactive Timeline
Changes coming to Capital Gains
With the new tax hikes proposal developed this week in Washington, there are notable changes coming to your capital gains and dividend income taxing.
- Currently, if you own stock recognized for gain, expect a top tax rate of 20% on that gain.
- Under the new proposed bill, that rate will bump up to 25%, including another medicare surcharge for high income investors; your rate would push up to 28.8%!
- There is a pressure for another wealth tax on individuals making 5 million or more, who would see another 3% tax raise. The 20% tax rate on capital gains can raise as high as 31.8% for some individuals.
That’s just the federal rate.
If you live in a state that taxes capital gains, you’re going to see an additional tax on top of it, leaving certain individuals with marginal capital gains rates past 40%.
A true tax hike.
In addition, the proposal specifies the change will take effect retroactive to September, disallowing investors from selling their position before the change gets enacted into law.
How do you plan for the upcoming Capital Gain Changes?
This is precisely what my team and I are helping hundreds of business owners with, planning for 2021 and 2022 with and without these changes.
Do you want to determine what will work best for you and your family/business? Let’s jump on free assessment zoom call:
Wondering how to reduce your tax payments in this upcoming tax season?
Many of our clients in Texas have already taken advantage of our Tax Planning Strategies and are saving thousands of dollars in Tax Payments.
secure plus financial
Related Updates
Is your CPA maximizing your Tax Savings?
Almost all the clients we helped already have a bookkeeper, accountant, or CPA; some are even their family members or friends. Unfortunately, we found it is very rare that they are also tax strategists.
Maximize tax savings with Late S Elections
The IRS will facilitate the grant of relief to late-filing S Elections entities by consolidating many other revenue procedures.
Taxing your S-Corporation as a C-Corporation
A C-Corporation structure may be more beneficial. Under the Tax Cuts and Jobs Act, corporate income tax rates are a flat 21% compared to individual tax rates.
Schedule C to S-Corporation Tax Strategy
If you are a sole-proprietor operating with an LLC, you can elect to be treated as an S-corporation for tax purposes.
Claiming your Home Office as your Primary Office
If you have a business location outside of your home, but also maintain a home administrative office to run your business, you can claim the home office as your primary office.
5 Medical Reimbursement Tax Strategies
There are several medical reimbursement tax planning strategies available for your business. They diverge in their capacity to establish tax savings.
Claiming Tax Deductions for Fringe Benefits
Confirm your assets are being depreciated and properly capitalized. Often, your accountant might not be doing this properly.
4 Health Care Tax Strategies for your business
Health Care is one of the most powerful tax strategies available to maximize the tax savings of your business. As a business owner, you have more options to save on healthcare and insurance costs.
Maximize the Depreciation of your Assets
Confirm your assets are being depreciated and properly capitalized. Often, your accountant might not be doing this properly.