Small Business Stock Gain Exclusion Receives 2014 Extension
It’s not like the government to bring everyone some well-needed Christmas cheer, but the new tax bill that lawmakers were finally able to pass brought some good news for many investors before the year ends. It’s unfortunate that it took the entire year to get it done, but at least the tax provisions that did get extended will be good for the entire tax year of 2014.
One important extension affected the small business stock gain exclusion. The new act signed this last week extended the 100% exclusion for small business stock acquired in 2014. That means if the individual shareholder holds the qualified small business stock for five years, they can exclude up to the first $10 million of capital gain for Federal purposes, instead of having to hold it for 10 years before doing so. The exclusion even applies for both regular tax and the Alternative Minimum Tax (ATM).
It’s important to note that for now this extension is only good for the year 2014 and does not apply to next year’s taxes, however, Congress could vote to extend it again next year, as well. If you would like to learn about the Sec. 1202 Small Business Stock Gain, and how it works, then just click here for a detailed explanation. And feel free to contact us at GROCO with any of your tax questions by clicking here.
The Qualities That Define A Successful Entrepreneur
Entrepreneur definition: Being a successful entrepreneur means more than starting new ventures every other day. It means the right attitude towards a business and the determination and grit to achieve success. A successful entrepreneur has a strong inner drive that helps him or her to succeed. Let us take a look at the qualities that…
4 Ways to Lead During Turbulent Times
4 Ways to Lead During Turbulent Times By Tim Irwin A couple of years out of college, my future wife, Anne, moved to Washington State from Wisconsin where she’d been living. She and her roommate pulled a large U-Haul trailer with all their worldly possessions on the long trip. They reached the Continental Divide, and…
Leadership Skills: How to Be a Successful Communicator
Leadership Skills: How to Be a Successful Communicator Author: Jacqueline Moore As a business leader, one of the most important leadership skills you’ll ever demonstrate is knowing how to communicate. When you think about it, most business leadership consists of communication of one sort or another. You hold meetings with staff or board members or…
Six Important Managerial Skills For Successful Leadership
Six Important Managerial Skills For Successful Leadership A mark of a good leader is to be able to provide consistent motivation to his team encouraging them to attain excellence and quality in their performance. A good leader is always looking for ways to improve production and standards. Here are six management skills to be an…