Many business owners who want to sell their businesses have not engaged in tax planning prior to the sale. We will briefly discuss both sales to third-parties and sales to insiders – i.e. key employees or family members. Sales to Third-Parties There are two basic forms of the transaction – a sale of the stock or a sale of the… Read More
Every once in a while, the IRS attempts to achieve large results without the benefit of legislation. Such a time is now, and the IRS has in its sights family business transfers. By far the greatest source of wealth in this country is business ownership. Bill Gates, Steve Wozniak, Warren Buffet, Ross Perot, Elon Musk, Michael Bloomberg, and Mark Zuckerberg… Read More
Say your business generates $400,000 per year in profits, is worth $2 million and your tax basis in your S corporation stock is $400,000. You have a key employee (KE) who wants to buy the business. You have managed your finances prudently over the years and you don’t need top dollar from the sale. KE has helped you build the… Read More
