South Carolina Business Review

Capitalizing on the 0% capital gains tax rate

By Mike Switzer

Published January 23, 2024 at 6:30 AM EST

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Stephen Maggard, certified financial planner with Abacus Planning Group in Columbia, SC

If you’ve been investing in the financial markets for a long time, you could have a portfolio that has grown significantly in value. Which could present a tax problem. Our next guest says there is a way to avoid some of these capital gains and it involves tax planning across generations. Mike Switzer interviews Stephen Maggard, a certified financial planner with Abacus Planning Group in Columbia, SC.

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Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

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