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Ep #073: What Are The Tax Implications When Selling a Business?
Manage episode 407119224 series 3557963
Tom Poltersdorf Jr.에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Tom Poltersdorf Jr. 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Are you a business owner planning to sell your business and retire? One critical aspect to understand is the tax implications of such a sale. This episode, "What are the tax implications when selling a business?" dives deep into the essential tax considerations every business owner must evaluate.
Learn about the basics of federal and state capital gains taxes, how they are calculated, and their impact on the net proceeds from the sale of your business. For instance, discover how a long-term capital gain is determined from the selling price minus the original cost basis and the percentage of federal capital gains tax that may apply.
Moreover, state income taxes can significantly affect the net proceeds, especially in states with high-income tax rates like California. This episode also covers states with no income tax, offering potential tax benefits for business owners during the sale.
Additionally, we discuss other crucial factors, including broker commissions and fees, which can affect your final take-home amount from the sale. Whether you're in Pennsylvania, West Virginia, Ohio, or any other state, this episode provides valuable insights to help you estimate the final check amount needed to retire comfortably.
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→ Understand the complexity of navigating a business transition
→ Assess their level of preparedness from a financial, tax, and legal perspective
→ Plan for the next chapter of their life
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