A recent Wall Street Journal article reported that the capital gains tax rate is likely to increase by 69% as a result of legislation that would repeal the Bush Tax Cut of 2003 and impose a surcharge starting January 1, 2011.
What that means is 2010 is shaping up to be a great time to sell your business. Any small business owner thinking about selling their business should get the ball rolling now to complete the process before the change takes affect.
I have a great document that explains the tax consequences of selling your business. If you are interested, send me an email (trevin@bristolgrouponline.com) and ask me for this document. I am more then happy to share it with you.
Trevin Rasmussen, CBI
Business Broker
Bristol Group