Year in and year out, as a business owner, you pay taxes on what’s called “ordinary income”. When you sell your business, the tax on the increased value of your business is called capital gains tax. This article discusses the definition, calculation, and ways to minimize or eliminate capital gains taxes on the sale of a business.
What Are Capital Gains Taxes?
When you earn a salary, commissions or business income, you get taxes on the income as it is received.… Read the rest