Starting a business is hard work. If you eventually sell that business, you likely want to maximize your pay day.
We’ve never met anyone who wants to pay more in tax, but yet, a lot of people do. One of those areas that often gets overlooked is capital gains on the sale of stock in a small business.
In this episode, J Barry Watts discusses section 1202 of the internal revenue code. The section is all about tax exclusions on eligible gains when you sell a small business. For some, this could mean $10 million of gains are excluded from taxes.
- What section 1202 is and how you can use it to your benefit
- The key difference between tax accountants and tax strategists
- How planning ahead of selling your business is essential to save you taxes
- The legality of using internal revenue code loopholes
- And more
Connect With Barry Watts:
- LinkedIn: J Barry Watts
- LinkedIn: SavingYouTaxes