Feb 27, 2018
In episode 30 of Financially Simple, Justin looks at how to go about reducing your tax bill when you sell so that you’re not left feeling short-changed.
When you sell your Business, the taxman takes a portion of the proceeds. Fortunately, there are ways and means to minimize his cut. Justin goes over some of the tactics that Business owners can use to save as much of the money from the sale of their business as possible.
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00:31 - How to minimize taxes when we sell our Business
02:59 - It starts with the Purchase Agreement
04:05 - Kim’s story
05:01 - Major pitfalls to beware of
05:07 - An Asset Sale
08:08 - A Stock Sale
09:03 - The Stupid Tax: C-Corp
09:56 - Start planning ahead
11:42 - Making adjustments during the time of sale
13:59 - Phantom Income
15:18 - The Attorney, the CFP, and the CPA
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Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.