Capital Gains Exemption Explained – Is It Really As Good As I Hear?

As an accountant advising small business owners, one of the most common questions I am asked is: “If I sell my business, is it tax-free?” Most business owners have heard of the lifetime capital gains exemption. However, the ins and outs of how it works are more complicated than they initially sound. Nonetheless, with proper planning, the use of the exemption can save a significant amount of money. What Is The Capital Gains Exemption? For shares of a small business...