If you’re considering selling your business, it’s important to recognize that your business may include some valuable intangible assets.
Examples include customer lists, goodwill, and proprietary software. The intangibles may have been self-created through your own or an employee’s efforts, or you may have purchased them.
The federal income tax results from selling business intangibles can vary widely depending on how your business is structured and other factors. Here’s what you need to know, broken down by business types such as proprietorships, partnerships, S corporations, and C corporations. ... Log in to view full article.