Tax Tip #2 My Taxman Gave To Me…

December-Tax-Tips-2

 

#2 Consider “Section 1244 Stock” for a new business

If you are starting a business and choose to operate as a corporation, investigate the advantage of “Section 1244 Stock.” There are requirements that must be met, but if your stock qualities and your business later fails, you can deduct up to $50,000 of the loss against ordinary income each year ($100,000 on a joint return). Without the section 1244 benefit, the entire loss would be subject to the capital loss limitations.

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