Recently, Sierra Eckman, Opsahl Dawson Shareholder and CPA wrote a column in the Vancouver business journal. If you’re planning on buying or selling a business in 2019, it’s a must-read!

In the article, you’ll learn strategies for planning and executing the transfer of a business. Sierra weighs the pros and cons of stock and asset transactions, as well as more advanced topics like depreciation and tax liabilities.

3 Key Tips & Top Takeaways

  1. In a stock transaction, any gain will be taxed at capital gains rates and may not produce a favorable outcome from the buyer’s perspective
  2. Installment transactions may work to the seller’s advantage by spreading out payments and profits, resulting in lower effective tax rates.
  3. If the transaction involves an allocation to a noncompete clause or goodwill asset class, it’s important to remember that goodwill is taxed at a preferential capital gains rates in the year the cash is received.
Read the Full Article

Don’t forget: Tax season is here

If you’ve bought or sold a business — or just need assistance with your business’ tax returns — the experienced Certified Public Accountants at Opsahl Dawson are here to help.

Contact us online or call (360) 737-8007 for more information. And remember, we’re available every Saturday from 9:00AM – 1:00PM during tax season!

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