Lawmakers have enacted six major bills, costing about $5.3 trillion, to help manage the COVID-19 pandemic and mitigate the economic burden on families and businesses. Most of us have succumbed to an inevitable tax rate increase. But that’s not the scary part. What’s more concerning is our acceptance of it. Our society is the proverbial “frog in boiling water” as we slowly but surely lose control over how the government allocates money. Guess who is suffering the most? It’s the folks you’d least expect … the savers! And they have a big money problem that can be summed up in two words – CAPTIAL GAINS.
Whether you are trying to sell your business, a family farm or stocks, the taxes on capital gains could be significant. Tune in today to listen to Dennis and guest CPA Jon Sluis as they talk about big money problems and what to do about them.