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Do I pay tax on selling my business?

Do I pay tax on selling my business?

The short answer on this is it depends! Okay, so not so short. If you sell your business and you have lost money and have not full depreciated the acquisition or startup costs, you may actually have a loss and you end up with a tax deduction. If you sell for a profit, you generally […]

How much does it cost to sell a business?

How much does it cost to sell a business?

Selling a business can cost you anywhere from nothing to as much as 12% of the selling price or more. We have heard stories from individuals who have been approached to purchase a business and the buyer covers all costs of the transaction including attorney fees, to those who sell with a business broker and […]

How much taxes will I pay if I sell my business?

How much taxes will I pay if I sell my business?

It depends on your situation. If you sell your business and you have lost money and have not full depreciated the acquisition or startup costs, you may actually have a loss and you end up with a tax deduction. If you sell for a profit, you generally will be paying tax on the gain (How […]

Can I sell my business without a broker?

Can I sell my business without a broker?

Yes, you can sell a business without a broker, but you might not want to. While business brokers specialize in selling businesses and a good one generally brings a higher success rate and potentially higher end price to the transaction, a business owner that is professional, can hold emotions in check, and is realistic in […]

How do I find a buyer for my business?

How do I find a buyer for my business?

When you are ready to sell your business, finding a buyer can be very easy or may take some serious time. While buying a house is a common desire, owning a business is not for everyone and finding a buyer sometimes takes patience. Business brokers specialize in finding business buyers and typically have a database […]

How do I sell my business confidentially?

How do I sell my business confidentially?

Selling a business confidentially takes discretion and patience. Often times when business owners decide to sell they just think selling a business is like selling a house. It is not. Buying or operating a business is not for everyone and when an owner is ready to sell they need to have patience in the process. […]

How do you sell a failing business?

How do you sell a failing business?

Before you get down in the dumps, stay positive because you built a business which is not easy and perhaps value exists that you don’t realize. Are you failing because you invested too much up front, don’t have positive cash flow, aren’t running optimally, are in a partnership dispute, or is it something else? Businesses […]

How do you value a small business?

How do you value a small business?

Valuing a small business can be challenging or very simple. Each and every business is very different and have different valuation methods. Some of the major things to take into account when a business is valued include financial performance, in particular profitability, gross sales, the business industry, location, assets, intellectual property, real estate included, liabilities, […]

How do you close a small business?

How do you close a small business?

Before you decide to close a small business, think about what you have that might be worth something. Even if the business is in extreme debt there could be value that you don’t see. Consult with two or three business brokers that may specialize in selling your type of business or businesses in your area. […]