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#3
07-02-2004, 04:18 PM
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 Re: New business and personal taxes Gene E. Utterback, EA wrote: - quote - > "Jay" <caverjay[at]yahoo.com> wrote:
In other words, value, like a woman's beauty, is in the> > I currently own a 75% stake in a c-corp that I founded. We > > are seeking funding, which requires a business valuation. I > > have a good handle on the valuation part, but was wondering > > about the tax implications. For example, If we get valued > > at $1M, am I going to be liable for taxes on $750,000? > > > Input greatly appreciated. > No, you will not have any tax ramifications from having a > business valued. Business Valuation is a process much like > Home Appraisal where a (supposedly) third party attempts to > reasonably determine the value of the enterprise. Most of > the time when this is done relative to obtaining financing > or funding it is intended to provide some level of assurance > to the lender that you have sufficient assets to cover the > debt. > There are no tax consequences. eye of the beholder. Cheer$, Harlan Lunsford, EA n LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
07-01-2004, 12:04 AM
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| Re: New business and personal taxes "Jay" <caverjay[at]yahoo.com> wrote: - quote - > I currently own a 75% stake in a c-corp that I founded. We
No, you will not have any tax ramifications from having a> are seeking funding, which requires a business valuation. I > have a good handle on the valuation part, but was wondering > about the tax implications. For example, If we get valued > at $1M, am I going to be liable for taxes on $750,000? > Input greatly appreciated. business valued. Business Valuation is a process much like Home Appraisal where a (supposedly) third party attempts to reasonably determine the value of the enterprise. Most of the time when this is done relative to obtaining financing or funding it is intended to provide some level of assurance to the lender that you have sufficient assets to cover the debt. There are no tax consequences. Gene E. Utterback, EA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
06-27-2004, 08:27 PM
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| Re: New business and personal taxes "Jay" <caverjay[at]yahoo.com> wrote: - quote - > I currently own a 75% stake in a c-corp that I founded. We
I'm sorry, what is the tax question? What on earth does> are seeking funding, which requires a business valuation. I > have a good handle on the valuation part, but was wondering > about the tax implications. For example, If we get valued > at $1M, am I going to be liable for taxes on $750,000? what your company being valued at have ANYTHING to do with income tax? -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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06-27-2004, 07:49 PM
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| Re: New business and personal taxes Jay wrote: - quote - > I currently own a 75% stake in a c-corp that I founded. We
Basically, you will incur no taxes on stock you own until> are seeking funding, which requires a business valuation. I > have a good handle on the valuation part, but was wondering > about the tax implications. For example, If we get valued > at $1M, am I going to be liable for taxes on $750,000? you sell. Stu << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
06-25-2004, 07:22 PM
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| New business and personal taxes I currently own a 75% stake in a c-corp that I founded. We are seeking funding, which requires a business valuation. I have a good handle on the valuation part, but was wondering about the tax implications. For example, If we get valued at $1M, am I going to be liable for taxes on $750,000? Input greatly appreciated. Jason << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| business, personal, taxes |
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