Calital Gains Tax Increase in 2013

During the Bush administration, tax on capital gains was decreased to 15%. These tax cuts are ready to expire soon, and if they do, after 2013 you could have to pay up to 25% in taxes on capital gains earned from selling stocks, bonds, or real estate. As individuals and business owners realize this, many are starting to sell their assets now to avoid the increased tax. This might have an effect on the market in the coming years if individuals become reluctant to sell assets to avoid paying taxes.

So who will really benefit from selling in 2012? We expect to see small businesses and individuals taking advantage of the current tax rate before the year ends to minimize tax expense. This doesn't mean you should automatically sell before the end of December, but if you are already in the process or seriously considering it, it may be a good idea to speed things up in time for the new year. If you would like a consultation to prepare yourself or your business for the coming changes, contact our office and we will gladly meet with you to discuss your options.

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Abbasi Law Corporation is located in Beverly Hills California and represents clients in Bankruptcy 7, Bankruptcy 13, Bankruptcy 11, Business Litigation, Construction Litigation, Business Formation, Real Estate Development & Litigation in Beverly Hills, The San Fernando Valley, Irvine, Burbank, and Los Angeles.

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