Selling Your Business
- Selling Your Business
- Tax Aspects of Selling a Business
- Types of Business Property
- Tax Forms Used When Selling a Business
- Reporting Sale of Business on Form 8594, Asset Acquisition Statement
- Section 1231
- Computing a Net Section 1231 Gain and Loss
- Section 197 Intangibles and Recapture Rules
More Tax Topics
- Business Structures
- Start-up Costs
- Depreciation
- Car Expenses
- Home Office Deduction
- Travel Expenses
- Hiring Workers
- Meals and Entertainment
- Retirement
- Top Tax Myths
- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
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Selling Your Sole Proprietorship
Selling Your Sole Proprietorship
Beginning the Process of Selling Your Business:
Selling your business can be a complex or simple undertaking depending on the size, scope, and nature of your business.
For example, selling a medical practice or a manufacturing business will be more involved than selling a small quick print shop operating out of a shopping mall.
In any event, it's best to get legal and accounting professionals involved to help get you through the sale transaction smoothly and as quickly as possible.
As the seller, you will also have certain responsibilities to attend to.
For example, closing business bank accounts, notifying creditors, and negotiating the price for your business.
This section covers:
- The role of your attorney.
- The role of your accountant.
- Your responsibilities.
- The tax aspects of selling your business.
- The tax forms and schedules typically filed when selling a business.
Next:
Selling Your Sole Proprietorship: The Role of Your Attorney
Related Links
- Legal Services You May Need
- The Role of Your Attorney
- Accounting Services You May Need
- Your Role in Selling Your Business
- Selling a Group of Assets
- When Does a Group of Assets Constitute a Trade or Business?
- Types of Business Property
- What is Section 1231?
- What is the Section 1231 Tax Advantage?
- What Are Section 1231 Transactions?
- What is Not Section 1231 Property?
- Tax Forms and Schedules Used In Selling A Business
- How to Compute and Report a Net Section 1231 Gain or Loss
- Depreciation Recapture
- Nonrecaptured Net Section 1231 Losses
- Example of Section 1231 Computation
- About Form 8594 Asset Acquisition Statement
- Allocating the Sales Price on Form 8594
- How the Residual Method Works.
- What Are Section 197 Intangibles?
- Recapture of Amortization
- New Recapture Rules For Section 197 Intangibles After August 8, 2005
Copyright © 2008-2012 Larry Villano. All rights reserved.