Tax Law Expert Rob Wood…”Tax Free Stock Break”

(Forbes) As if you didn’t have enough to worry about this year end, here’s one more.  If you do it before January 1, 2011, you can buy stock in up to a $50 million company and, provided that you hold it for five years, you won’t pay any federal income tax when you sell—not even long term capital gain rates.  But conditions are tough and there’s little time.

Since 1993, individuals have been able to exclude 50% of their gain on selling “qualified small business stock” (QSBS) held for at least five years.  With all the focus on the expiring 15% capital gain rate, this QSBS benefit is even better if you qualify.  But like an infomercial, wait, there’s more!

Read more: http://woodporter.com/Publications/Articles/pdf/Invest.pdf