How to sell your business Tax-Free - Unlocking Qualified Small Business Stock
In this inaugural episode of the GPS to Your Business Success, host Nick Papakyrikos reveals how business owners can legally avoid Federal Capital Gains Tax when selling their company by leveraging specific tax code provisions. Nick delves into the essential strategies for planning ahead, explains the intricate rules and requirements for qualifying, and outlines the advantages of structuring your business as a C Corporation.
You'll gain valuable insights into long-term financial planning, the distinct roles of various types of corporations, and how to maximize potential tax savings at the state level. Whether you're just starting out or considering selling your business, this episode provides crucial information to help you navigate the complexities of business sales and tax planning.
Key Moments:
- 00:00 – Introduction to Tax-Free Business Sales
- 00:14 – Decoding the Tax Code Provisions
- 01:31 – Meet Your Host and Learn About His Firm
- 02:19 – Important Legal Disclaimer and Sponsor Message
- 03:23 – In-Depth Look at Qualified Small Business Stock
- 05:17 – Eligibility and Requirements for Tax-Free Gains
- 08:47 – C Corporation vs. S Corporation: What’s the Difference?
- 10:40 – Strategic Advantages of C Corporations
- 15:43 – Considerations for State-Specific Tax Savings
- 17:25 – Final Thoughts and Conclusion
Special Thanks to Our Sponsor: Steer CRM
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Connect with Papakyrikos, CPA: The GPS to Your Business Success
- Visit us online: www.papakyrikoscpa.com
- Email us: Podcast@papakyrikoscpa.com
