Selling a business is a tricky situation for many reasons. There are often tax implications. Before you start talking to the potential buyer, you better know what those obligations and implications are because if you start the process in the wrong direction and try to switch it midstream, you’re gonna have a problem because naturally, a buyer is gonna become weary. So it’s crucial, before you even start marketing, to know what is best for you both personally, maybe family-wise, maybe industry-wise and tax-wise and then consulting with both an accountant and an attorney, you’re best prepared to negotiate at a position of strength and knowledge and not in a haphazard fashion.
This informational blog post was brought to you by Marc N. Needelman, an experienced Hartford, Connecticut business lawyer.
