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In May 2018, I bought the business for 200K in California
Second opinion] In May 2018, I bought the business for 200K in California with the following cost allocation: Furniture, Fixtures and Equipment: 35K Goodwill: 160K License: 5KI have been depreciating … read more
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Asset purchase on installment sale - 1. S-corporation is
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I have a taxpayer (schedule C) who is selling his business.
I have a taxpayer (schedule C) who is selling his business. total price is 800k. the purchase price is allocated as follows: 300k real property 500k personal property (for the most part fully deprecia… read more
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Dr. Chen In a sale of a company, Can the goodwill of a
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Tax Consequences Sale of Business - 1. S-corporation is
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I am a partner in a business that is in the process of being
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A dentist sells s dental practice. It is an S Corporation.
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We are a GA based small food manufacturing company of 30 years. We
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I have a tax question relating to a SMLLC. What is the tax
I have a tax question relating to a SMLLC. What is the tax effect of the 100% purchase of a SMLLC when the purchase price is less than the assets of that SMLLC? A simple example....Net property plant … read more
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We are in California and planning to purchase a restaurant
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I sold my business (a gym), with an owner financed. Verylittle
I sold my business (a gym), with an owner financed. Verylittle money was exchanged at closing. My accountant is saying that the equipment was being depreciated over a 7 year macrs, and for what the ag… read more
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Im selling a business with $350,000 allocated to building
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I have a small net loss on my small business this year. I
I have a small net loss on my small business this year. I am selling the business for $20k. I have paid $80k. The market value is abut $125k. So I have a loss. How is this reported on my income tax? I… read more
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i am planning to sell my 20 year old small retail business
i am planning to sell my 20 year old small retail business by jan.1,2009. i do not understand capital gains tax and wonder how i should structure the sale, as far as the inventory and "goodwill" goes.… read more
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If I sell my restaurant for $175,000.00. Approximately ...
If I sell my restaurant for $175,000.00. Approximately $125, 000.00 goodwill and $50,000.00 inventory and equipment. We have approx. $65,000.00 in debt so our profit would be $115,000.00. What would m… read more
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We are selling a business. How is the capital gains tax fig
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