Tax regulations regarding the sale or purchase of a business can be quite complex. If you are selling your business, there are many ways of structuring the transaction to minimize your tax liability. Whether selling or buying, you should have detailed knowledge of the various tax regulations and the advantages and disadvantages for each method of sale or purchase in order to reduce tax obligations.
If you are looking to transition out of your business, there are several ways you can structure your sale. There are advantages and disadvantages to each type of sale, and the one you choose will largely depend upon your particular business, as well as your specific goals for the sale. The structures you might choose include:
As with the sale of a company, there are multiple purchase options available when buying an existing business. Depending on the type of business and your particular financial situation, there are unique advantages and disadvantages when it comes to tax liability. In addition, we can assist in evaluating the financial stability of the companying you are considering buying. Prior to purchasing, we recommend that you contact our firm to review potential issues and tax liabilities so your business starts on a solid foundation.
Jo Ann M. Koontz and Marina Parkin offer a powerful combination of in-depth knowledge of tax regulations, a firm grasp of the business world, and years of experience representing clients. To schedule a consultation, call the Sarasota office of Koontz & Parkin, CPAs at 941.328.3993.