How Capital Gains Tax Increases Can Affect Business Owners Looking To Retire

By Kyle Francis

As if this past year hasn’t been enough of a rollercoaster, capital gains tax have the potential to almost double from 20% to 39.6% for profits made on the sale of stock or property for people who make more than $1 million in income. While 2022 may feel like a lifetime away, it leaves a narrow window for business owners to decide if now is the right time to consider retirement before the increase kicks in. No matter your industry, a qualified advisor can help you decide if it’s time to hang up your proverbial hat.