Budget Reconciliation Bill Might Have Big Impact on Capital Gains Taxes

An increase in the long-term capital gains tax is a possibility as the U.S. tax increases are being considered in Congress as part of a large budget reconciliation bill. With the anticipation of the bill being filed, tax and wealth planning advisors and their clients who will be impacted should carefully consider their time horizon in determining whether to trigger capital gains currently rather than deferring the tax.