In the original proposal for Biden’s Build Back Better plan, it was stated that the federal exclusion for certain qualified small business stock would still apply if the proposal passed, but there is a different story today as the House of Representatives released a partial revision of … Read More
In a word, no. Even if Build Back Better passes (and there is no guarantee that it will), QSBS will still remain in place, albeit with a few changes. However, specific QSBS stakeholders may be affected. First off, taxpayers a) earning less than $400K in gross adjusted income, … Read More
Unsurprisingly, the Republicans are staunchly opposed to the Build Back Better Act. A recent Reuters article (found here), says that, “Republicans, who have been adamant in defending their 2017 tax cuts and argue that the tax hikes would hurt businesses and kill jobs. Democrats argue the Trump … Read More
Although the initial proposal for President Biden’s Build Back Better Plan included language that would protect QSBS status and benefits, a recent revision of the proposal by the House of Representatives would affect certain taxpayers if passed. The document titled, General Explanations of the Administration’s Fiscal Year 2022 … Read More
The Build Back Better Act will likely mean higher capital gains for taxpayers, if it passes. According to a document that has been circulated, the Democratic-led House Ways and Means Committee is looking for ways to raise $2.9 trillion in revenue over 10 years. Currently, that plan … Read More
While certain stakeholders in Qualified Small Businesses could be affected by the proposed Build Back Better Act, shareholders who hold Section 1202 QSB Stock and earn less than $400K in adjusted gross income have little to fear. The markups released today by committees of jurisdiction within the … Read More
Today’s release of the markups to the Build Back Better Act have QSBS investors and founders worried about their eligible tax exemption. The House of Representatives has made edits to the plan, including the American Jobs Plan and the American Families Plan, in order for the budget … Read More
Former CEO of Starbucks, Howard Schultz, plans to help small businesses recover from the pandemic by funding a free online learning platform. The platform, BackTo.Biz, contains more than 400 resources created by and for entrepreneurs including articles, video lessons, and tools. What Topics Are Covered? The curriculum on BackTo.Biz … Read More
Cities and towns across Washington state are currently leading a tax revolt as a response to “the Democratic-led state legislature’s attempt to impose a capital gains tax.” Those involved believe this could open the door to a state income tax which would threaten economic growth. So far, five … Read More
On August 4th, the Treasury Department modified regulations around qualified opportunity zone funds (QOFs) which are, essentially, an incentive for private and public investments into underserved communities across America. Opportunity Zones (OZ) were created to help economically distressed areas by giving investors preferential tax treatment with new investments … Read More