Some business owners looking to sell their companies are accelerating deal timelines to avoid a potentially bigger tax bite in case Democrats win the White House and Senate in November.
Former Vice President Joe Biden—who is leading President Donald Trump in many swing state polls—wants to raise the current 20% tax rate on long-term capital gains to the rate applied to ordinary income for those making more than $1 million. His proposal would also increase the top rate on ordinary income to 39.6%, up from 37%.
Sellers have been hastening deals that would have otherwise happened in three, ...
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