How to Save Millions on Your Personal Tax Return with this Loophole
Big news for small business—if you have shares of stock in a company valued at less than $50 million, you might be eligible to exclude over $10 million in taxes when sold. Qualified small business stock, or Section 1202 stock, can save you millions on your personal tax return. If you suspect you have left millions of dollars on the table at tax time, talk to an experienced accountant about using this exclusion next year or pursuing an amendment for a refund. Among our many integrated advisory services, Stableford Tax offers Tax Planning to help evaluate potential exclusions such as this on personal tax returns.