Posted on 10/25/2020 9:01:59 AM PDT by Libloather
Businesses and wealthy individuals are preparing for the potential for former Vice President Joe Biden to raise taxes if he wins the presidential election.
**SNIP**
Businesses interested in keeping their taxes as low as possible may be considering accelerating their income so it is subject to the current, lower rates but defer deductions until after any tax increases are enacted. Owners of pass-through businesses may be considering speeding up the sale of their assets or their companies in order to use the current capital gains tax rates.
Tax and finance professionals said that some business owners have already started to accelerate sales of their companies.
The trend that were seeing is that founder or management-owned businesses that were considering going to market within the next six to 12 months or are already in the market are accelerating their process to try to get ahead of any potential negative impacts of a Biden tax plan, said Winston Shows, senior vice president in the mergers and acquisitions tax advisory practice at the investment bank Houlihan Lokey.
He said he hasnt seen evidence of people who had been planning to sell their businesses in five years planning to sell now instead.
(Excerpt) Read more at thehill.com ...
Joe Biden to raise taxes businesses move off shore democrats stay true to their stupidity.
Even those who earn $30k will have to cough up at least $1000 for Joe-Kamala-Biden-Harris
Businesses + Wealthy = Employers
Democrats will not have any of that it harms the welfare programs.
If, God forbid, Biden is elected tomorrow, watch for a huge sell off of stocks and securities as the wealthy will be liquidating their holdings to move them off shore. Also look for a big spike in gold and silver prices.
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