If you’re going to sell your business, your prospective buyer will want to check things out carefully before they sign on the dotted line. This investigative process is called “due diligence” and you can’t blame the buyer for wanting to examine the merchandise carefully. The last thing they want is exposure to your business’s liabilities (known or unknown). Want to know … [Read more...]
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Selling your business? Cut your tax bill!
When it comes time to sell your business, smart tax planning is essential. And our new article can help. It’s important to know that when you sell a business that has zero-based receivables and/or self-created goodwill, special tax-planning considerations should be taken into account. And if you operate as a C corporation, you need extra planning because you may be exposed … [Read more...]
Selling your business with a noncompete agreement
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...]
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...]