Financial Preparation to Sell Your Business
There are many financial issues to consider when planning to sell your business. Will you have enough to meet your future financial requirements if you sell the business today? How much will you end up with after taxes? What legal and tax strategies can you use to minimize your tax burden and reduce the risk of problems during and after the sale?
Talk to your tax planner and financial advisor (wealth management expert) early in the process to get the answers to these questions. With a full understanding of your current financial situation, your tax planner will help you structure the sale so you take home the most money possible. Your financial advisor will help you get clear on your current financial requirements as well as your future needs and assist you in developing a plan for the future.
Personal and corporate tax planning is a specialized field. Unless your current advisors are experts in these areas, you are wise to consult specialists.