Is Now the Time to Sell High-Value Items? | Tax Planning Strategies

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According to an article on the AOL Real Estate blog, some luxury homeowners are looking to sell their high-end properties before the end of 2012. They’re scrambling to get their properties to market because the Bush-era capital gains tax cuts are scheduled to sunset at the end of the year, which could lead to a significant increase in the tax if Congress doesn’t act.

This article reminds us that now is a good time in the year to review your financial portfolio and think about tax planning strategies for the future. It might be a good idea to sell stocks or other high-value items at the current 15% capital gains tax rate, rather than waiting and being subject to a potential costly increase.

To learn more about homeowners selling their properties read, An End to Bush-Era Tax Cuts Could Push High-End Properties Onto Market

For more information contact Sally Steffes

Sally Steffes
Certified Public Accountant
616.735.3035
sallys@hscompanies.com