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Table 5 · 04-19-2024, 04:41 PM

A question for the accountants in regards to the impending raise of the capital gains tax (thanks again Justin!).

So I have an investment account under my corporation. These are mostly long-term holds, but with a currently decent profit on paper. Am I correct to assume that if I sell the winners before June, the capital gains will still only be taxed at the current 50% rate? My thinking is that I can sell the stocks now to lock in that tax rate, and then buy them up again.

Anything off with that line of thinking? I know I'll have to pay more taxes for the year, but would rather pay 50% now then 65% later.

04-19-2024, 04:41 PM	#113
Table 5 Franchise Player Join Date: Oct 2001 Location: NYYC Exp:	A question for the accountants in regards to the impending raise of the capital gains tax (thanks again Justin!). So I have an investment account under my corporation. These are mostly long-term holds, but with a currently decent profit on paper. Am I correct to assume that if I sell the winners before June, the capital gains will still only be taxed at the current 50% rate? My thinking is that I can sell the stocks now to lock in that tax rate, and then buy them up again. Anything off with that line of thinking? I know I'll have to pay more taxes for the year, but would rather pay 50% now then 65% later. Last edited by Table 5; 04-19-2024 at 04:44 PM.