Is your small business ready for a shift in business ownership?
Are you prepared for a smooth transition? For the majority of business owners – the answer is probably not. An important part of business is planning for the future. A well-prepared plan can also protect you and your family in case of an unplanned exit.
An installment sale is a sale of property wherein the seller received one or more payments after the close of the tax year in which the sale occurs. The amount of the payment should be based on the value of the property transferred and an interest rate at least equal to the lowest long-term AFR
Business insurance can help you when you are in need of a specific payout – this is usually better than accepting a note where the payout can be unreliable. The buyer’s after tax dollars are used to fund this purchase…. that means that the money to you is tax free.
For more information if you or your business needs insurance to cover your business – please call Debbie Lewis today – 979-220-3018