NEW! As of June 25, 2024, 2/3s of capital gains in excess of $250,000 per year are proposed to be taxable. Capital gains of $250,000 or less will effectively continue to be included at a 50% rate due to a new deduction.
If you anticipate that annual net capital gains will not exceed the $250,000 threshold, the changes will not affect you. However, if you expect annual capital gains to exceed $250,000, you may be impacted by the changes.
Read more Tax Tips & Traps from AC Group below: