How to Minimize Taxes When You Sell Your Business

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.

TRANSCRIPT: Minimizing Negative Tax Implications When Selling a Business:
https://financiallysimple.com/minimizing-negative-tax-implications-when-selling-a-business/

TIME INDEX:
- How to minimize taxes when we sell our Business
- It starts with the Purchase Agreement
- Kim’s story
- Major pitfalls to beware of
- An Asset Sale
- A Stock Sale
- The Stupid Tax: C-Corp
- Start planning ahead
- Making adjustments during the time of sale
- Phantom Income
- The Attorney, the CFP, and the CPA

USEFUL LINKS:
- Work with Justin's team: https://financiallysimple.com/work-with-us/?utm_source=youtube&utm_medium=description&utm_campaign=work_with_us
- Subscribe to our business and financial newsletter: https://financiallysimple.com/newsletter/
- New Book: Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit
https://amzn.to/37PdVCW

BIO:
Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. Multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.

DISCLOSURES:
Investment advisory services offered by WealthSource® Partners, LLC (“WealthSource”). Nothing herein constitutes an offer or solicitation to buy or sell any security; this video is distributed for informational purposes only. Furthermore, nothing herein should be considered as investment, tax or legal advice and/or used to make any investment decisions. You should consult with a professional adviser to see how the information contained herein may apply to your individual circumstances. All investing involves risk of loss and nothing herein should be construed as a guarantee of any specific outcome or profit. Past performance is not indicative of future results. All market indices discussed are unmanaged, do not incur management fees, and cannot be invested in directly. The statements and opinions expressed are those of Justin Goodbread and do not necessarily represent the views and/or opinions of WealthSource. All statements and opinions are current only as of this video’s original publication date and are subject to change without notice. WealthSource has no obligation to provide revised statements and/or opinions in the event of changed circumstances.

Here at Financially Simple™, we want to help you make informed financial decisions for your small business with confidence. In doing so, we might recommend products and services that offer us compensation when you use them. This compensation is used to help offset the cost of creating the content we give to you for free. We will, however, never suggest products/services solely for the compensation received. As stated before, our goal is to make understanding money for you the business owner, your family, and anyone visiting this website—financially simple.

The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk taker and specialist while showing characteristics of collaboration.

Advisors who wished to be ranked in Investopedia’s Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers. Rankings were determined based on number of followers and engagement on social media, primary contribution to professional industry websites and their focus on financial literacy. Neither performance nor client experience, however, were considered. No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia’s Top 100 Financial Advisors List.

Видео How to Minimize Taxes When You Sell Your Business канала Financially Simple Business