Video - Fear of Incurring Capital Gains Tax
Fear of Incurring Capital Gains Tax
Over the years, Jim has met with countless clients who have far too much of their portfolio in the stock of one company (generally their previous employer). Many of these clients have told him that the fear of the capital gains tax on highly appreciated stocks keeps them from diversifying their holdings. Yikes! The risk of keeping all your eggs in one basket dramatically outweighs the tax liability—especially now when the tax hit on selling highly appreciated securities is reduced. Changes to the tax laws in 2012 reduce the impact of the capital gains tax. For lower income taxpayers, the capital gains tax is eliminated. So, if you’re one of those people who have steadfastly refused to diversify because of the capital gains tax, it may be time to re-evaluate your situation.
James Lange, CPA
Jim is a nationally-recognized tax, retirement and estate planning CPA with a thriving registered investment advisory practice in Pittsburgh, Pennsylvania. He is the President and Founder of The Roth IRA Institute™ and the bestselling author of Retire Secure! Pay Taxes Later (first and second editions) and The Roth Revolution: Pay Taxes Once and Never Again. He offers well-researched, time-tested recommendations focusing on the unique needs of individuals with appreciable assets in their IRAs and 401(k) plans. His plans include tax-savvy advice, and intricate beneficiary designations for IRAs and other retirement plans. Jim's advice and recommendations have received national attention from syndicated columnist Jane Bryant Quinn, his recommendations frequently appear in The Wall Street Journal, and his articles have been published in Financial Planning, Kiplinger's Retirement Reports and The Tax Adviser (AICPA). Both of Jim’s books have been acclaimed by over 60 industry experts including Charles Schwab, Roger Ibbotson, Natalie Choate, Ed Slott, and Bob Keebler.
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