I am selling my small business and have a few questions:
1. How do I minimize my taxes paid overall?
2. Can I roll the profit into anything else (Selling an LLC) and reduce my tax burden?
3. Are gifts to vendors tax deductible?
4. Can you deduct home office and business expenses for the entire year the business was owned or for the part of the year until it is sold? (For example, can we write off a part of our mortgage for the whole year or only until the date of sale? Or office supplies? Or mileage? etc.)
Thank you!
