Keep or Sell Your Business
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Deciding whether to keep or sell your business can be one of the most challenging decisions for a business owner.
Some owners spent a significant amount of time and energy starting their business from scratch or growing a nascent business into a thriving enterprise. They may have a very strong personal and emotional attachment to their business that makes it difficult to let go. Other owners, while they may similarly have a strong attachment to their business, are ready to move on and explore new ventures or enjoy retirement.
There are a multitude of factors to consider, including your emotional preparedness, why you want to sell, potential buyers in the market, and what to do next. In addition, one of the most important factors is the value of your business, which will factor into the amount of taxes you ultimately end up paying.
With new tax laws being proposed, this decision becomes an even greater challenge. The current tax rates encourage market activity while the new rates, if passed, may leave business owners with a more complicated decision.
For a breakdown of proposed laws, asset sales v. stock sales, case studies and more, fill out the form to download the article.