Is Section 1202 Through? #132
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Internal Revenue Code (IRC) Section 1202 provides a meaningful exclusion for the gains from the sale of qualified small business stock (QSBS). Guest Rick Klahsen returns to the podcast with host Damien Martin to revisit how the enactment of the Tax Cuts and Jobs Act (TCJA) impacted this powerful opportunity and explore what proposed changes might mean for its future. Here\\u2019s what they cover:
- How to describe IRC \\xa71202 at a cocktail party [02:39]
- Challenges to overcome and hoops to jump through [03:40]
- Protecting your QSBS [06:11]
- Planning ideas and opportunities [07:43]
- What is IRC \\xa71045 and why is it seemingly ignored? [13:48]
- QSBS after TCJA [17:27]
- Is IRC \\xa71202 at risk? [19:35]
- Key considerations to position yourself for IRC \\xa71202 [21:57]
- A surprising aspect of IRC \\xa71202 [24:05]
- Keep an open mind when investing and planning for QSBS [25:27]
Learn more about Rick and get the additional resources mentioned in the episode here.\\xa0
Have questions on the possibility of significant tax change with discussions on President Joseph Biden Jr.\\u2019s \\u201cBuild Back Better\\u201d agenda heating up in Washington, D.C.? Get answers live along with thought-provoking insights and strategies amid uncertainty with Simply Tax\\xae Talks, a new weekly live stream discussion starting Tuesday, October 26 @ 10 am CST. Join us here.
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We\\u2019re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.
A complete archive of our episodes is available on our website and YouTube playlist.
We\\u2019d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.
Connect with Damien on social media!
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