Tax Benefits
What is the qualified small business stock gain exclusion, also known as Section 1202 of the Internal Revenue Code? Please check with your Tax Advisors for additional information.
Here are some highlights:
- Even though it’s framed as a small business tax incentive, companies as large as Uber have taken advantage of the opportunity.
- The stock must be held by an eligible shareholder including individuals, trusts, and estates.
- There is a holding period of five years.
- The stockholder must have acquired the stock on original issuance after August 10, 1993.
- Must be a C corporation.
- $50 million gross assets limitation.
- Redemption restrictions to avoid certain transactions.
- Must be a qualified trade or business.
Yacht Club Enterprises, Ltd. qualifies under all the rules of Section 1202 to take advantage of this exceptional opportunity!
Again, please seek additional information from your Tax Advisors
The Team
Stephen Cross, Commodore and Senior Creative Officer
When I am working with a client, I have always enjoyed being as innovative as possible and providing world-class service and current tax information. I have worked in very high-paced environments, as the principal of a marketing company, as a top one percent agent at one of the largest Life Insurance Companies in the world, as a Investment Professional dealing with very successful individuals, families and companies, as a Pension Consultant, and advising multi-billion dollar pension funds. I always sought out the most creative ways to reduce taxes, grow wealth and support charities. Currently, I am finishing a book about my blessed life and launching a new business, Yacht Club Enterprises, Ltd., where I wish to utilize all my knowledge about taxes and growing wealth for my new very successful friends and families.
When I was stationed in Newport, Rhode Island, I had never been on a boat, maybe a canoe at camp and a destroyer in May Port, Florida, but never a boat, like a sailboat. Well, I learned how to sail at the Officer’s Club and it changed my life to eventually be racing Shields and J24’s, sailing to Bermuda, having a son, who is now a Yacht Captain in the Virgin Islands and here I am, launching a company, Yacht Club Enterprises, Ltd.
The dream all started when I wrote a comedy screenplay, “Yacht Club” and when I was fortunate enough to design the logo and have it Trademarked, the dream became a reality.
WE LOOK FORWARD TO WORKING WITH YOU, WHETHER YOU ARE A WEALTHY INDIVIDUAL, BUSINESS OWNER, MOVIE STAR, PROFESSIONAL ATHLETE, OR FAMILY OFFICE.
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David Cunningham |
Laura Bonnell |
President/CEO |
Creative Director |
Board Member Infinity Group |
Design Director Musto |
President Chaps Ralph Lauren |
Design Director Barbour |
President Calvin Klein Jeans |
Design Director Vetiver |
President Kenneth Cole Apparel |
Senior Designer Ralph Lauren |