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I am trying to fill out CA form 593 and am confused on part
I am trying to fill out CA form 593 and am confused on part VI numbers 13 - 28 … read more
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Hi I have a question about taxable items, I am starting a business, selling roasted coffee primarily online, and it can be shipped to different states. I wanted to make sure that coffee since it is a … read more
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But the allocation to my s-corp asset sale/purchase
Ok.But the allocation to my s-corp asset sale/purchase agreement lists the sale/purchase price as only comprising $212,800 for Fixed Assets, $2,200 for Inventory, and $5,000 for Non-Compete, but Nothi… read more
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We are selling our S corp small business in an asset deal
Second opinion] Hello. We are selling our S corp small business in an asset deal and was wondering what out tax consequence would be. There is 25k left of depreciation on the assets. Sale price of aro… read more
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I just sold my small financial planning practice for just
I just sold my small financial planning practice for just the goodwill. Is the basis for the goodwill always zero or can I claim a lower capital gain due to the fact that I sold it for less than fair … read more
Lane
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I'm trying to determine if the sale of goodwill as part of
I'm trying to determine if the sale of goodwill as part of the sale of a business (asset sale) is taxed as capital gains or ordinary income? … read more
Stephen G.
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A dentist is purchasing a dental practice for 500,000. The
A dentist is purchasing a dental practice for 500,000. The seller wants 300,000 allocated to Goodwill & 200,000 to Equipment. The buyer initially proposed 150,000 to Goodwill, 150,000 to the Patient L… read more
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My question is pertaining to the sale of my business. I
My question is pertaining to the sale of my business. I operate a retail store structured as a single member LLC in Pennsylvania. For federal tax purposes it is a sole proprietorship, but in PA it is … read more
Stephen G.
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I am selling and LLC (service business) with about 60k in
I am selling and LLC (service business) with about 60k in hard assets. The sale price will be 550k. How do I value the non-compete (is it an asset?) and 'blue sky' (is that goodwill)? What is the best… read more
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In the sale of an LLC, amounts attributable as goodwill
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Lane
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i am selling my c corp with a asset sell. the total sell price
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Lev
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I sold my business and understand that tax is due on the profit
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I have a client who is selling her business and would like
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In the sale of a small s-corp business that is 10 years old,
In the sale of a small s-corp business that is 10 years old, are the proceeds from the "goodwill portion" of the business and a "convenant not to compete" taxable as ordinary income or capital gains t… read more
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Im selling a business with $350,000 allocated to building
I'm selling a business with $350,000 allocated to building , equipment & land and $200,000 allocated to good will ,no compete, furniture , and leasehold improvements (50,000) per). For income tax and … read more
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I need advice on a business purchase price allocation. The
I need advice on a business purchase price allocation. The business is an S-Corporation and the sale price is $65k. Below are the actual assets of the business: Inventory $22k Fixtures/Equipment befor… read more
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Im selling a Kona coffee business in Hawaii. I have a
I'm selling a Kona coffee business in Hawaii. I have a full price offer of $249,000. Half down, half in monthly installments over five years, plus interest. No hard assets are included, just goodwill … read more
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Sole Shareholder of an S Corp has received an offer to purchase the assets of the S Corp, including equipment, customer list, goodwill, but not the underlying corporate stock. Buyer wants to put 30% d… read more
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