Mackall, Crounse & Moore, PLC has joined Dewitt Ross & Stevens S.C.

The newly formed DeWitt Mackall Crounse & Moore S.C. will provide clients with enhanced legal services
and efficiencies as well as access to more than 100 attorneys practicing in nearly 30 areas of
law in Wisconsin and Minnesota.

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2012 May Be the Final “Great Year” to Sell Your Business

From an after-tax perspective, 2012 may be the last year in which a business owner can take advantage of the lowest capital gains rates in recent decades.  As of January 1, 2013, the federal capital gains rate is set to increase from 15% to 20%.  In addition, there will be a new 3.8% Medicare tax on unearned income beginning in 2013.  Accordingly, a business owner whose stock could have been sold in 2012 at the 15% rate, will be subject to a minimum, combined 23.8% federal tax rate in 2013 and thereafter.

At this point, it is likely too late for a business owner to commence the process of finding a 3rd party buyer for his/her business in 2012.  However, it is not too late for a business owner to implement an employee stock ownership plan (ESOP) to buy his/her company in 2012 (though time is running out).  Further details on the tax benefits of selling to an ESOP versus selling to a 3rd party can be found by clicking here.   

About the Author

Timothy Stewart is an attorney practicing out of our metro Milwaukee office. He is a member of the Employee Benefits, ESOP and Labor & Employment Relations practice groups. Contact Tim by email or by phone at 262.754.2869.

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