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Selling a business is a complicated transaction.  The long list of business and personal issues that need to be considered is extensive and at times, confusing.  Usually at the top of the list is the tax the seller will pay when the business sells.  When selling a business, properly structuring the transaction will minimize taxes owed;  ordinary tax rates for corporations are 21% and capital gains tax rates range from 15% to 20%. 

There are simple solutions to keep the tax deadline from growing into an annual source of stress. By working with your CPA to organize tax information throughout the year, you can help ensure you have everything you need to minimize your tax liability and avoid surprises. 

Posted by: Richard Huszai, CPA

Large Employer Penalties (50 or more FTE’s):