Posted on Tuesday, 14th July 2009 by admin
Business Directory
I’m selling a business and obviously want to minimize taxes.
I’m selling a business and obviously want to minimize taxes.
It is an S corporation, in WA state.
I’m fimiliar with the 1031 exchange but was wondering if there are other options.
Regardless of the 1031 I need to reinvest the majority of the money into 2 businesses.
Thanks.
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Tags: Business Selling, Selling Business, Wa State
Posted in 1366 | Comments (2)
July 15th, 2009 at 10:02 pm
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you need a good tax accountant or attorney
July 17th, 2009 at 12:07 am
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By reducing the difference between the basis and the selling price. How you would do that requires a clear understanding of the business that you are selling. Since you want the capital to purchase a new business you don’t want to reduce the selling price so you need to work on those things that would “legally” increase the basis.