Identifying the right timing for the eventual sale of your business helps to maximize the value and the amount a buyer is willing to pay, and it can minimize the tax ramifications of the sale. In identifying the right timing for the sale, consider the following questions:
- What is the business worth?
- How much do you need it to be worth to achieve your personal financial objectives?
- When is the most tax-advantaged time to sell?
- With the sale of your business, will you be able to achieve the goals you have set for the next phase of life?
To learn more about the Timing phase of selling a business— contact us— or read the book, EXIT STRATEGY: Maximizing The Value Of Your Business, by Faelon President, Thomas W. Lyons. In the book, Mr. Lyons explains in a concise and easy to understand structure how each of these key steps help to maximize the value of your business and minimize the tax ramifications of the sale.