“As soon as you begin to think about selling your business, you should also start thinking about the tax consequences of the sale.
After you sell your business, the amount of tax you owe will depend on the internal structure of your company and how you structure the sale. If you plan wisely you can minimize your tax liability. ”
– Do not try to do this yourself. Use a tax advisor! A little money now can save a lot later and the complexity of tax code is above just about everyone’s heads, except a tax advisor of course. You should try, in situations like this, to use an expert. If you do not use an expert because you don’t want to spend the money (as long as the amount you need to spend is fair and balanced) then you should really think about whether you are serious about running a business. The again, since you are looking to sell your business maybe you have already made that decision. -ed.