Forbes turned to Draffin & Tucker’s Jeremy Wilson for its Sept. 13, 2013, article, “How to Beat the Big 2013 Capital Gains Tax Hike.” With the top capital gains tax rate increasing to 20% this year, and high income earners having to tack on another 3.8%, some taxpayers may be in for a big surprise upon filing their tax return come April. “You start looking at these numbers, and it all adds up in a hurry,” says Wilson. “By running appreciated assets through your estate your heirs get assets with a step-up in basis, and no capital gains tax is due. Call it the big deferral. Wouldn’t you rather pay 0% than 23.8% capital gains tax?” Other options include rethinking your retirement savings strategies, exercising options over a period of time or harvesting losses to offset gains, among other things. However, Wilson says that sometimes rebalancing just means paying gains tax, especially if you’re lucky enough to have that kind of income in the current economy.
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To learn more about how you can offset the 2013 capital gains tax, please contact Jeremy Wilson at email@example.com or (404) 220-8494.