Selling your Business (Asset Sale)

The goal of most business owners is to sell their business upon retiring. There are two ways to sell a business, selling the assets or selling the stock. The way in which you sell your business can make a large impact on your tax liability. In an asset sale, the seller remains the legal owner of the entity while the …

Gift Tax

What is gift tax, and how does it work? Are there tax consequences from receiving a gift? Recipients of gifts are not taxed. However, there are rare situations where the person giving the gift may be taxed. Taxpayers are given a gift tax exclusion of $15,000 per person per year. There is no limit on the number of individuals you …