selling to a relative

June 25, 2019

Transfer Your Business to a Family Member

There may come a point when a business owner will want to turn over their business to one of their family members. This could be due to a variety of reasons. Perhaps they are going to retire and wish to entrust their business with a family member who they know will run it well. Either that or the business owner may just want to sell their business to a family member or give it to them as a gift. Whatever the reason is, it is important to understand how to transfer your business to your son or daughter so you incur the least amount debt and tax liability possible. Furthermore, you must consider how much money you want to take […]