As the economy continues its recovery from last year’s downturn during the COVID-19 pandemic, conditions are ripe for business owners to sell their companies — especially as interest rates remain low and tax rates could increase in the near future. And although many business owners may not necessarily want to sell right now, there is a sense that this opportunity won’t come along again, and that they should strike while the iron is hot.
These factors are all important, but there are many equally important considerations to keep in mind when deciding whether or not to sell your business: Are you ready to move on to something new? And are you prepared for the wealth management and tax planning challenges that inevitably follow a sale? This article from Forbes explains the wealth and tax planning implications business owners should consider before making the decision to sell the company they’ve worked so hard to build.
This article was written by Forbes, an entity unrelated to HoyleCohen, LLC. The information herein is intended for educational purposes and has been selected by HoyleCohen due to the timeliness of the subject matter.
