Don't let tax planning slide as you wait for Congress tofinalize changes in the capital gains tax rate. While most businessowners eagerly anticipate any reduction in the tax levied on thegains realized when selling investments, real estate or businesses,it pays to be aware of and take advantage of the various strategiesalready available to help minimize the tax bite.
Planning ahead now may be especially wise for investors who havereaped healthy returns in the stock market during the past twoyears and are mulling over the possibility of selling some of theirwinners in 1997. It's important to factor these gains into youroverall tax liability and plan accordingly so you don't getsocked with an unexpectedly large tax bill when it comes time tofile your return.
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