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...]
How to deduct your business motor home
Do you use a motor home for business? Are you thinking of getting a motor home for business use? Then you should know that some recent developments are working in your favor. If you want to learn the best way to deduct business use of your motor home and stay in Uncle Sam’s good graces, take my advice. Before you pack your bags and hit the road, read my new article … [Read more...]
Rent equipment to your corporation!
It’s a fact … Renting equipment to your corporation is a tricky business. To keep the IRS happy, you have to know the ins and outs of Section 179 expensing. Handle things the right way and you could save a bundle. Make a mistake and you could be inviting an audit. But don’t worry. We’ll explain the intricacies of the law in easy-to-understand language when you read my … [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...]