How do i minimize taxes when selling a small business?

Posted on January 1, 2012 by

Question by John O: How do i minimize taxes when selling a small business?
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.

Best answer:

Answer by Pobept K
you need a good tax accountant or attorney

Give your answer to this question below!

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One Response to How do i minimize taxes when selling a small business?

  1. Mathew says:
    January 1, 2012 at 6:48 am

    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.