A LumiQ podcast featuring Withum’s Daniel Mayo, Partner and Lead, National Tax Services and hosted by Omar Roubi.
Many entrepreneurs and investors are unaware of a significant tax-saving opportunity through IRC Section 1202. If shares are considered qualified small business stock (QSBS), all or some of the capital gain earned on the disposition is tax-free. In this episode, Daniel Mayo, National Tax Services Lead at Withum, discusses the requirements of Section 1202.
In this episode, we cover:
- The company specific requirements for Section 1202 eligibility
- The shareholder specific requirements for Section 1202 eligibility
- The capital gains exclusion available under Section 1202, if eligible
- Best practices and nuances with these rules
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