As part 2 of our Business Decisions in Times of Change video series hosted by our President and CEO, Brenda Frank, Michael Moloney, Vice President, Financial Services goes over some of the tax implications to consider when buying and selling assets, including businesses.
In part 1 of this series Business Decisions in a Difficult Time,
Senior Credit Analyst, Jesse Taft discussed the preparation needed to make the best decision for your business. In this video, Michael Moloney highlights some of tax implications that you need to be aware of; whether you are a buyer or seller.
A few key points he goes over are:
- Determining if you are the Buyer of Seller.
- Realizing that there may be tension in the Buyer/Seller relationship
- Negotiating the Value of Assets
Every step taken in tax planning is moving you off the path to a tax problem and onto the path for a solution. We offer a wide range of record keeping
and tax planning services
that you can take advantage of at any time. If you are looking for assistance with your business, contact us, we would be happy to work with you.