If you’re thinking of selling your business, you need to consider the intangible asset of goodwill.

Goodwill is the value of a business in excess of its identifiable tangible and intangible assets. Basically, it represents the value of a good reputation and customer loyalty.

In some cases, goodwill is worth a lot of money. The federal tax results from selling goodwill can vary widely depending on how your business is structured and other factors.

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