What’s in the Build Back Better bill, and why will it cost $3.5 Trillion? The Democratic supported bill includes a host of items, including… Monthly payments to parents Universal prekindergarten Free community college Paid family leave According to a recent article (found here), “Democrats envision the bill as their last, best chance … Read More
A lot of people want to know: given the proposed changes to QSBS are intended to increase tax dollars, how much more money will be raised? In 2019, the Joint Committee on Taxation estimated that the tax revenue lost from Section 1202 ranged between $1.1B and $1.3B per … Read More
In the original proposal for Biden’s Build Back Better plan, it was stated that the federal exclusion for certain qualified small business stock would still apply if the proposal passed, but there is a different story today as the House of Representatives released a partial revision of … Read More
In a word, no. Even if Build Back Better passes (and there is no guarantee that it will), QSBS will still remain in place, albeit with a few changes. However, specific QSBS stakeholders may be affected. First off, taxpayers a) earning less than $400K in gross adjusted income, … Read More
Unsurprisingly, the Republicans are staunchly opposed to the Build Back Better Act. A recent Reuters article (found here), says that, “Republicans, who have been adamant in defending their 2017 tax cuts and argue that the tax hikes would hurt businesses and kill jobs. Democrats argue the Trump … Read More
Although the initial proposal for President Biden’s Build Back Better Plan included language that would protect QSBS status and benefits, a recent revision of the proposal by the House of Representatives would affect certain taxpayers if passed. The document titled, General Explanations of the Administration’s Fiscal Year 2022 … Read More
While certain stakeholders in Qualified Small Businesses could be affected by the proposed Build Back Better Act, shareholders who hold Section 1202 QSB Stock and earn less than $400K in adjusted gross income have little to fear. The markups released today by committees of jurisdiction within the … Read More
Today’s release of the markups to the Build Back Better Act have QSBS investors and founders worried about their eligible tax exemption. The House of Representatives has made edits to the plan, including the American Jobs Plan and the American Families Plan, in order for the budget … Read More
For any security to qualify under Section 1202 as Qualified Small Business Stock, the company must first be considered an eligible Qualified Small Business (QSB) meaning: It is a domestic C-Corp It has less than $50 million in gross assets (when the stock is issued)It is an active … Read More