Tax Warrior Chronicles

Proposed Capital Gains Rate Increase Impact on the Sale of a Family Business

Posted on Fri, Aug 27, 2021

By: Sherri Sorbello, CPA


Among President Biden’s tax proposals is an increase in the long-term capital gain tax rate from 20% to the top ordinary tax rate (37% for 2021 or 39.6% for 2022) for taxpayers with adjusted gross income (AGI) over $1 million. At the time of the publication of this blog, it is unclear if this change, if enacted, will be retroactive to a yet-to-be determined date in 2021 or if it will take effect as of January 1, 2022. For those looking to sell a family business, planning for the potential higher tax rate is essential to ensure you net the greatest cash flow from the sale of a business.

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Will Capital Gain Rate Changes Kill Opportunity Zone Investments? Quite the Opposite, in Fact…

Posted on Thu, May 20, 2021

By: Chris Catarino, CPA, MT


On April 28, 2021, President Biden unveiled the American Families Plan, which includes significant provisions that would increase taxes for wealthy taxpayers. Among a litany of proposed tax changes is a call to increase the tax rate on long-term capital gains from the current 20% to 39.6%, for households making over $1 million. While the proposed legislation has a way to go before enactment, and is likely to see significant revision, many are concerned with the currently proposed rate increase, especially those investing in Qualified Opportunity Zones (OZ).

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4 Tax Topics in the Presidential Campaign

Posted on Thu, Oct 24, 2019

By: Greg Mugnier


We are closing in on the one-year countdown to the presidential election. Democratic candidates’ campaigns are in full swing, each vowing for the opportunity to challenge President Donald Trump in the 2020 election. In the coming year, we'll hear various views on a wide range of campaign issues, but today we will highlight one area in particular--taxes! Here are a few tax topics that are bound to arise in the campaign and some of the candidates’ positions.

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