What are the tax implications of selling my business?

• The tax implications of selling a business depend on various factors such as:
  • type of business structure
  • the amount of profit made from the sale
  • the individual tax laws in the seller's jurisdiction
• Some common federal taxes that may apply to a business sale include:
  • capital gains tax
  • self-employment tax
  • depreciation recapture
• It is important to consult with a tax professional to understand the specific tax implications of your situation and to ensure that you comply with all tax laws and regulations. You can hire one of our tax professionals through BizSaleByOwner here https://bizsalebyowner.com/advisors