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Those experts in US S-Corp taxes, including when a retail
Those experts in US S-Corp taxes, including when a retail scratch bakery type store S-Corp operates for many years, then has an Asset Sale, but the S-Corp stock is not sold, so S-Corp continues:Im lea… read more
Lev
Lev
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Bachelor's Degree Equivalent
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If a business has closed and the only assets transferred to
If a business has closed and the only assets transferred to the buyer were inventory,and goodwill, how do I fill in the final 1120? … read more
Lev
Lev
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I have sold business with the following allocation total
Sir I have sold business with the following allocation total =1,180,000 Land 450,000 Building 525,000 FFE =120,000 Goodwill 84,000 Inventory 1,000 I have question regarding the goodwill it was not pur… read more
Lev
Lev
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I am dealing with a sale of a business. Single member LLC
I am dealing with a sale of a business. Single member LLC filed on schedule C as a disregarded entity. LLC business was sold 2016 to son. The LLC had and passed on to buyer (son) contracts for continu… read more
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Sold the Business our S-Corp owns and was trying to make
Sold the Business our S-Corp owns and was trying to make sure I get the forms right of where I need to file the Goodwill and Assets, inventory … read more
Lane
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If I had a small rural grocery store that I had been renting
If I had a small rural grocery store that I had been renting and sold in January 2017, is the sale amount of it taxable? I paid 100,000 for it in 2011 and sold at a loss for 70,000. I havent been acti… read more
Mark D
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When an S-Corp closes it's door and have assets that were
when an S-Corp closes it's door and have assets that were not sold, how is this reported on the last 1120S? Most of the assets have been depreciated and some that have not fully depreciated. But none … read more
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Have a two person LLC who sold their business in 2015 to a
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Stephen G.
Stephen G.
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I am structuring a deal to buy my business partner out of his
I am structuring a deal to buy my business partner out of his half of a rental property business. He owns some buildings 100%, we jointly own some buildings, and I own some buildings 100%. I would be … read more
Lev
Lev
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I have a client who owns a landscaping business. There are
I have a client who owns a landscaping business. There are set up as an LLC and is a Partnership with 2 partners. They currently have an offer to sell the landscaping business for $200k. Some of the p… read more
DanielleCPA
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I have a client who just sold his S-CORP that included the
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Lev
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I sold a business in 2012 (Dentist, sole prop. ) How do I calculate
I sold a business in 2012 (Dentist, sole prop. ) How do I calculate basis? deprecation? goodwill?… read more
Phillip B, EA
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Just signed agreement to sell my Optical practice. The agreement
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I have an s-corp that sold its assets for 50k and goodwill
I have an s-corp that sold its assets for 50k and goodwill for 200k. If the $200k goodwill shows up on 4797, do I use my basis as the cost? That would then flow through to the 1040. What about a liqui… read more
Lev
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I sold a sole proprietor business in 2010. It was a franchise
I sold a sole proprietor business in 2010. It was a franchise financial advisory practice. The only asset was the client list; which included the assets under management, from which an ongoing commiss… read more
jgordosea
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Sole proprietor business has closed and has not operated in
Sole proprietor business has closed and has not operated in two years and sold off major physical assets this year. Is Goodwill intangible asset balance taken in full adjusted balance as loss on a sch… read more
Stephen G.
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I am selling my service business. This is an asset sale.
I am selling my service business. This is an asset sale. The price is the assumption of all liabilities, about $50k. No cash will change hands. Somehow, IRS form 8594 wasn''t brought to my attention u… read more
RD
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