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Question
In the Seattle area, I heard capital gains from angel investment for company under a $1 billion is tax free. Is it true? Is this tax incentive also valid for the whole US?
AI accountant’s answer:
Yes, it's true that Washington state offers a tax incentive for investors in qualified businesses, which includes angel investors. The state's Business and Occupation (B&O) tax rate of 1.5% on capital gains does not apply to certain gains from the sale or transfer of qualified business investments. However, this specific benefit is limited to Washington state and does not apply at the federal level or to all states. To qualify for the incentive, the investments must meet specific criteria, such as being in a company with an annual gross revenue of less than $1 billion, being held for a minimum of five years, and the company engaging in research and development or manufacturing activities in the state. Keep in mind that even though the gain may be exempt from state taxes in Washington, you'll still need to report the capital gain on your federal tax return and pay any applicable federal taxes. Tax incentives and rates vary by state, so it's essential to research the rules and regulations applicable to your specific location.
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Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

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Ask an AI Accountant

A free tool by

Question
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AI accountant’s answer:

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

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This is some text inside of a div block.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Not Correct.
Icon check
Looks good

Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

Find write-offs.
File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

Get started