When you sell your business, the buyer may insist on a noncompete agreement. And you can’t really blame them. They don’t want to buy your business and then discover that you’ve opened a competing business down the street the next day. But be careful! The noncompete agreement you sign has very real tax consequences for the buyer’s tax bill … and yours. If you want to … [Read more...]
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How to sell your business using a “contingent” price
When you sell your business, price isn’t the only thing to consider. You also have to take into account the tax implications of the sale. The good news is that Uncle Sam will work with you when you and your buyer structure a “contingent sale” — also know as an “earn out” deal. You’ll get all the details when you read my new article titled Tax Tips: Selling Your Business … [Read more...]
Sell Your Home to Your S Corporation and Then Make It Your Rental Property
Are you thinking of moving to a new home? Then I have good news for you … You see, your current home might make a great rental property which could create tax-free income for you plus you could form a new S corporation that would give you a step-up in the depreciable basis for the rental house. Want to find out more? Easy. Read my new article titled Tax Tips: Sell Home to S … [Read more...]
2016 Tax Guide to Foreclosure on a Rental Property
Do you risk losing a rental property to foreclosure? If so, you have our sympathy … and something a lot more valuable. Our proven ideas for limiting the negative tax consequences you face. So don’t despair. Do something now to save yourself a lot of money. Read my new article titled Tax Tips: 2016 Tax Guide to Foreclosure on a Rental Property. Three ways our fact-filled … [Read more...]
Four Tax Strategies That Make Buildings Produce More Cash
Good news! Your building, whether it’s a rental property or your office, can likely put money in your pocket. What’s more, you can start saving now with a building you already own, a building you plan on buying, or a building you are renovating. How? By using four money-saving strategies we’ll explain when you read my new article titled Tax Tips: Four Tax Strategies … [Read more...]