Hello, savvy studio owners, fearless entrepreneurs, and trailblazing women in business! Ready for a plot twist that’ll have you gripping your ledgers tighter than an Oscar envelope? President Biden just dropped a fiscal bombshell, proposing to nearly double the capital gains tax from 20% to a whopping 39.6%!
Could your investment returns be slashed in half next year? If you’re thinking about selling investments like stocks or real estate, you might want to fast-track those plans to this year. Imagine selling a piece of land for a $100,000 profit—currently, you’d pay $20,000 in taxes. Under the new proposal, brace yourself for a staggering $39,600 tax bill.
If you're considering selling investments, you might want to act this year rather than next to avoid the higher tax rate. It's important to consider the tax consequences of your investment decisions. This nearly doubling of the tax on capital gains could significantly impact your financial planning.
While proposed changes don’t always become law, it’s essential to stay ahead of the game. Pyop accounting is here to help you navigate these financial tremors with ease, ensuring your business remains profitable and resilient. Want to keep your hard-earned money safe from Uncle Sam’s grasp? Dive into our full article for strategies and updates that will keep you ahead of the curve!
Ready for more insights and tips to safeguard your investments? Click through to read the entire post and let’s turn this fiscal shockwave into a breeze of profitability!
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Donna Bordeaux, CPA with PYOPAccounting.com
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA, as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.
