Timothy Finnerty of McNees Wallace & Nurick explores different methods by which a seller can avoid tax liabilities that may hinder maximum cash gains during the sale of a business. The first thing he stresses is time and planning, specifically, to start planning a sale as much as 5 to 10 years out in order to review and revise aspects of the company. Finnerty also notes the tax differences between C and S corporations, and suggests that sometimes conversion to an S corporation is the best option.
Read the full article here: How to Lessen the Tax Bite When Selling a Business
Posted by Allison Trupp, Associate Editor, Wealth Strategies Journal