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Question on the taxation of the sale of a business,
Question on the taxation of the sale of a business, specifically goodwill. In this situation, the tax payer started the business (S corporation) from scratch, and is selling real estate, and goodwill.… read more
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S CORPORATION SALE OF ASSETS AS FOLLOWS. GOODWILL 100000.
CLIENT LIST 100,000 COVENANT 2 FIXED ASSETS 10,000 BUSINESS WAS STARTED BY SOLE SHAREHOLDER NOTE FOR 50,000 ASSUMED BY SELLER REMAINDER IN CASH HOW IS THIS SALE REPORTED ON S CORPORATION RETURN AND SOLE SHAREHOLDERS RETURN. SELLER GREW BUSINESS FROM 0 TO CURRENT LEVEL IS THE GAIN FROM GOODWILL AND CUSTOMER LIST ORDINARY INCOME OR CAPITAL GAIN AT PERSONAL AND INDIVIDUAL LEVEL… read more
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A dentist is a 50% stockholder in an 'S' Corporation & owns
A dentist is a 50% stockholder in an 'S' Corporation & owns a commercial rental property personally. He rents the property to the 'S' Corporation (the dental practice). He files Schedule E each year w… read more
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An S Corporation & its 2 shareholders are in the process of
An S Corporation & its 2 shareholders are in the process of selling its assets. The Corporation provides credit card processing services & its major assets are its customer contracts & goodwill. Its s… read more
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A well established dentist is selling his practice assets.
A well established dentist is selling his practice assets. He is a P.C. (not an S Corp). His fixed assets are fully depreciated. 400,000 of the 800,000 selling price will be sold by him personally as … read more
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An S Corporation is incorporated in PA & has its one
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A dental practice which is an S Corp sells its practice
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A dentist sells s dental practice. It is an S Corporation.
A dentist sells his dental practice. It is an S Corporation. Is it tax beneficial for him to allocate more of the sales price to Equipment vs Goodwill/Patient List or vice versa?… read more
Lev
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An dentist is the sole stockholder of his dental practice,
An dentist is the sole stockholder of his dental practice, which is an 'S' Corporation. He is selling the assets only to his associate under an "Asset Purchase Agreement". A portion of the purchase pr… read more
Robin D.
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Hi Rachel - Where does the sale of goodwill created in a C
Hi Rachel - Where does the sale of goodwill created in a C Corp (not purchased) get reported? Form 4797? and what about sale of inventory? COGS section?… read more
Robin D.
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is the sale of goodwill a capital asset rather than ordinary
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Megan C
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How do you determine a sole shareholders basis or corporations
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taxmanrog
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I have an S Corp and am selling all my assets. So contract
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A client sells the assets of the S Corporation. The goodwill
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Im buying just the assets of a business. Am i legally responsible
I'm buying just the assets of a business. Am i legally responsible for Sales, Payroll or Federal taxes of the seller? The business is in PA.… 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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Issue cropped up in negotiating sale of stock, and ...
Issue cropped up in negotiating sale of stock, and exisiting team w/non-competes. If Buyer assigns value of intangibles as 95% of deal, is Seller forced to forgo capital gains rates and accept 95% of … read more
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Sole shareholder of S Corp received offer to buy assets
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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