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yuba7tom
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What is the capitol gains tax for selling a small business for 68,500.00? Thanks

 
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What is the capitol gains tax for selling a small business for 68,500.00? Thanks

There are simply too many variables for anyone to provide you with some sort of sensible answer.

 

In actuality, in the case of a sole proprietorship, you are selling assets rather than just receiving a lump sum for a "business". How the transaction will be taxed depends upon the nature of those assets which could run the gamut from cash, receivables, inventory, machinery, furniture, fixtures, goodwill and other intangibles.

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