Financially Simple

In episode 299 of Financially Simple, Justin goes over the Taxes involved when it comes to selling your business and how they can affect your Wealth Gap. When it comes to selling your business, it's a balancing act between the interests of the Buyer and those of the Seller, and negotiations are necessary to ensure a good outcome for both sides. In this episode, Justin looks at the Taxes involved at the time of sale of a business, and the approaches a Seller can take to minimize the costs. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:23 - What is the True Value of My Business? 02:30 - Taxes at the Time of Sale 04:54 - Why Does This Matter? 06:40 - What is the After-Tax Value? 07:47 - Two Primary Types of Sale 09:50 - Tax Basis 11:05 - Capital Gains 14:09 - Alternative Routes 15:52 - IRS Rules 19:28 - So, What are You to Do? 22:18 - Summary   RESOURCES: Financially Simple Educational Website Financially Simple on YouTub