Biden’s Capital Gains Hike Could Sweeten This Trump Tax Break

April 30, 2021, 2:30 PM

President Joe Biden’s plan to raise the capital gains tax rate could make one of the most generous breaks enacted by Donald Trump even more lucrative -- if investors can stomach the uncertainty.

The prospect of boosting the rate on capital gains to 39.6% for those making more than $1 million, as well as other changes, is setting off a scramble by the wealthy to figure out how to keep their tax obligations in check. That could lead some to a controversial perk for investing in the nation’s roughly 8,700 “opportunity zones.”

By developing real estate or funding businesses ...

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