MidLaw lagniappe: an end-of-the-year tax tip for those selling assets

brooks-stairWe interrupt our normal programming to bring to readers a bulletin from the tax lawyers at Brooks Pierce.

Persons who are considering sales of companies or other assets before the end of 2016 should pause to consider the possibility that there may be a significant federal income tax reduction next year. Maybe that reduction will occur; maybe not. Maybe it will be retroactive to the beginning of 2017; maybe not. Maybe it will not become effective until a future year.

So, maybe you should close your deal this month (December), or maybe you should wait until next month (January). There may be multiple issues to weigh.

Maybe you should talk with your tax advisor about it.

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