Slash Tax when Buying a Business

When buying a business, how the "purchase price" is made up can affect what you pay in tax. The plan is to make as much of the price tax deductible for you and not the other party.

Once a final price has been agreed upon, try to allocate that price in the sale and purchase agreement in such a way that you get maximum benefit.

Here are some ways to do this:

If you are buying allocate as high a value as possible to the assets in the purchase price (plant, equipment, computers, vehicles, fittings, machinery) so you can claim a higher deduction for depreciation of those assets. If you are selling, keep asset values down so you are not taxed for any depreciation recovered (that is, the excess of the amount you have sold the assets for over their book value).

If buying value goodwill at the lowest figure possible because it is not tax deductible to you but it does increase the assets allocation. If selling then the higher the goodwill figure the better for you as this lowers the assets figures in the price.

If buying, the higher the valuation for stock the better, because you pay tax on the stock profit, which is the difference between stock at the beginning and stock at the end of the period so keep this profit down. If selling, keep stock value as low as possible as they have the opposite effect.

If buying and part of the deal includes you taking over the lease, put in a value for "premium on lease" as this premium is tax deductible. If selling, don't include any premiums.

If buying and the old owner is staying on, lower the purchase price and increase wages the you'll pay to the former owner because those wages would be fully tax deductible. If selling and you're staying on, increase the purchase price and work for nothing for a period.

If buying, leave your repairs and maintenance for a year or two, so you'll have no problems getting a deduction. If you carry out the work immediately on moving in, there is a possibility that the expenses may be "capitalized" and only depreciation can be claimed. If selling, get the repairs done before the sale and increase your price.

If buying and you're paying off the balance of the purchase price, reduce the price and raise the interest rate, because interest is fully deductible to you. If you're selling increase the selling price and instead, give the buyer a loan at nil interest.

StartRunGrow (http://www.startrungrow.com) is a global online information organization that specializes in creating, developing and marketing business help information specifically with the aim of "making business easier" for entrepreneurs around the world. The StartRunGrow objective is to become a dominant player in the business help arena providing end to end solutions for the millions of small and medium businesses worldwide who continue to struggle daily with the difficulties of starting, running and growing a successful business.

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Obama plan brings better tax relief - The Daily Advance

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Tax Foundation: Ohio among 10 worst for business taxes - Bizjournals.com

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/4-0fd=Rurl=http://www.bizjournals.com/cincinnati/stories/2008/10/06/daily12.htmlcid=1254745207ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNFij_RdcYK13DQJ77APdvOvR_Or9gbTax/b Foundation: Ohio among 10 worst for business btaxes/b/abrfont size=-1font color=#6f6f6fBizjournals.com,nbsp;NCnbsp;-/font nobr11 hours ago/nobr/fontbrfont size=-1Despite reform measures a couple of years ago, the bTax/b Foundation is unimpressed with Ohio as a business btax/b-friendly state. The foundation rated Ohio among b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-1fd=Rurl=http://www.azcentral.com/arizonarepublic/business/articles/2008/10/06/20081006biz-taxes1006.htmlcid=1254745207ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNFvCPA-TaFzmZn8q1Nhl7nMsLMJ8QHigh sales btaxes/b hurt Arizona#39;s lure to business/a font size=-1 color=#6f6f6fnobrArizona Republic/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-2fd=Rurl=http://milwaukee.bizjournals.com/houston/stories/2008/09/29/daily63.htmlcid=1254745207ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNGKaBrZJynRAPxvrlEfDT3LGp5jawTexas btax/b system earns praise/a font size=-1 color=#6f6f6fnobrMilwaukee Business Journal/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-3fd=Rurl=http://www.webcpa.com/article.cfm%3Farticleid%3D29419cid=1254745207ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNHgBtiW8j-1zyL7fJ7n6BR28NE8jgNJ bTax/b System Ranked Least Friendly to Business/a font size=-1 color=#6f6f6fnobrWebCPA/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/4-4fd=Rurl=http://www.wyomingbusinessreport.com/article.asp%3Fid%3D96442cid=1254745207ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNF1_x74d-qoKn2CBr-hfJ5gUr14swnobrWyoming Business Report/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/4-5fd=Rurl=http://www.billingsgazette.net/articles/2008/10/06/news/wyoming/27-taxsystem.txtcid=1254745207ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNHWfCB43gv1b8cxirBAINHmVK1fEQnobrBillings Gazette/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254745207hl=ennobrall 19 news articles/nobr/a/font/div/font/td/tr/table

McCain Slings Right Wing Fairy Tales About Taxes - BuzzFlash

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/5i-0fd=Rurl=http://news.ninemsn.com.au/article.aspx%3Fid%3D642460cid=1255018241ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNHZJ0KvR8kaABcLq8cX-AP1cNXb2Qimg src=http://news.google.com/news?imgefp=LXVtEYFNQx4Jimgurl=news.ninemsn.com.au/img/news_feeds/obama06_400x300.jpg width=80 height=60 alt= border=1brfont size=-2Ninemsn/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/5-0fd=Rurl=http://www.buzzflash.com/articles/waronfamilies/006cid=1255018241ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNFmZ3QPmJuByrDp7rVTyIIdH3spBAMcCain Slings Right Wing Fairy Tales About bTaxes/b/abrfont size=-1font color=#6f6f6fBuzzFlash,nbsp;ILnbsp;-/font nobr10 hours ago/nobr/fontbrfont size=-1So we#39;ve had to rely on outside experts to cut through all the talk on btaxes/b lately. One thing seems to ring true no matter where you go for information: b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-1fd=Rurl=http://online.wsj.com/article/SB122333901560909871.html%3Fmod%3Dgooglenews_wsjcid=1255018241ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNGfkSGj5q5z7jWyvZUl8pwEliKD1AThe Rich Pay Their Fair Share/a font size=-1 color=#6f6f6fnobrWall Street Journal/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-2fd=Rurl=http://www.wistv.com/Global/story.asp%3FS%3D9067847cid=1255018241ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNGJmBaTxU2WOxnMeHEIAUt7vPxcMQbTaxes/b: Who#39;s Offering the Bigger Cuts?/a font size=-1 color=#6f6f6fnobrWIS/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-3fd=Rurl=http://www.kansascity.com/445/story/829351.htmlcid=1255018241ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNEOSt_0SGARYTS7ul52l2hh_ZE7VgAs stock markets slide, McCain and Obama talk economics/a font size=-1 color=#6f6f6fnobrKansas City Star/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/5-4fd=Rurl=http://www.nytimes.com/2008/10/07/opinion/07tue1.html%3Fhpcid=1255018241ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNGuCZLCFry9QEYL4N77XC42JPRFVwnobrNew York Times/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/5-5fd=Rurl=http://www.morningsun.net/elections/x282359313/On-the-issues-A-look-at-McCains-and-Obamas-stancescid=1255018241ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNGJNH87Ocs25e5hYylXbT9HNhEKBgnobrPittsburg Morning Sun/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255018241hl=ennobrall 584 news articles/nobr/a/font/div/font/td/tr/table

Tax amnesty program extended - San Jose Mercury News

McCain: I#39;m Not Raising Taxes. I#39;m Cutting Medicare! - The Plank on TNR.com

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/7i-0fd=Rurl=http://www.washingtonpost.com/wp-dyn/content/article/2008/10/04/AR2008100400566.htmlcid=1252219486ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNFLVc7sSoGDrJgdS10d2_bu0NBIJQimg src=http://news.google.com/news?imgefp=spPfgi0uyDIJimgurl=media3.washingtonpost.com/wp-dyn/content/photo/2008/10/04/PH2008100400568.jpg width=80 height=57 alt= border=1brfont size=-2Washington Post/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/7-0fd=Rurl=http://blogs.tnr.com/tnr/blogs/the_plank/archive/2008/10/06/mccain-i-m-not-raising-taxes-i-m-cutting-medicare.aspxcid=1252219486ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNHXkW2Lncy-bosKKb5JVZ4fRy1uQAMcCain: I#39;m Not Raising bTaxes/b. I#39;m Cutting Medicare!/abrfont size=-1font color=#6f6f6fThe Plank on TNR.com,nbsp;DCnbsp;-/font nobr16 hours ago/nobr/fontbrfont size=-1Barack Obama says John McCain would raise people#39;s btaxes/b by changing the way the IRS looks at health insurance. McCain says he wouldn#39;t. b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-1fd=Rurl=http://www.kaisernetwork.org/daily_reports/rep_index.cfm%3FDR_ID%3D54846cid=1252219486ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNH8k9tnfiGL6MTI7NxUyep77zJYXQObama Criticizes McCain#39;s Health Care Proposal, Saying It Will b.../b/a font size=-1 color=#6f6f6fnobrKaiser network.org/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-2fd=Rurl=http://www.galen.org/component,8/action,show_content/id,68/category_id,0/blog_id,1095/type,33/cid=1252219486ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNEaDr6DQnueLRvCYeOC1loD1T1_FQMcCain, Health Insurance and bTaxes/b/a font size=-1 color=#6f6f6fnobrGalen Institute/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-3fd=Rurl=http://www.casavaria.com/cafesentido/2008/10/06/633/mccains-healthcare-plan-taxes-employee-benefits-aims-to-force-individuals-onto-open-market/cid=1252219486ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNHF0O0RHEycbVkXbu0M7MhzsLtiaQMcCain’s Healthcare Plan bTaxes/b Employee Benefits, Aims to Force b.../b/a font size=-1 color=#6f6f6fnobrcasavaria sentido/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/7-4fd=Rurl=http://newsblogs.chicagotribune.com/triage/2008/10/a-princeton-pro.htmlcid=1252219486ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNG7sb_XnrWPQQ1_uXaWLbVfFG6mJQnobrChicago Tribune/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/7-5fd=Rurl=http://thecaucus.blogs.nytimes.com/2008/10/06/drilling-down-on-the-facts-in-mccains-speech/cid=1252219486ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNEG4akCgk0fF2AAoIWLQGtPiEoSWgnobrNew York Times/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1252219486hl=ennobrall 914 news articles/nobr/a/font/div/font/td/tr/table

Growth in direct taxes falls to 25.5% in Sept - Economic Times

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://economictimes.indiatimes.com/Personal_Finance/Tax_Savers/Tax_News/Growth_in_direct_taxes_falls_to_255_in_Sept/articleshow/3568052.cmscid=1254761692ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNFo4Qwewo7b5BfuZAUmURUoLWdLAQGrowth in direct btaxes/b falls to 25.5% in Sept/abrfont size=-1font color=#6f6f6fEconomic Times,nbsp;Indianbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-1NEW DELHI: Direct btax/b collections, which had remained buoyant till now, appear to be showing some early signs of slowdown. Overall direct btax/b kitty grew b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-1fd=Rurl=http://www.thehindubusinessline.com/2008/10/07/stories/2008100752480100.htmcid=1254761692ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNHaU1QbjghZ_3WsgSbGbDJHth21wgNet direct btax/b collections up 25.5% in Sept/a font size=-1 color=#6f6f6fnobrHindu Business Line/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-2fd=Rurl=http://www.business-standard.com/india/storypage.php%3Fautono%3D336569cid=1254761692ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNEIGBssG7dKFggWDDxvIknMqHQAcwDirect btax/b collection growth slows/a font size=-1 color=#6f6f6fnobrBusiness Standard/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-3fd=Rurl=http://www.livemint.com/2008/10/06155247/Direct-tax-collections-up-33.htmlcid=1254761692ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNFqhgIV3d7iGFWk3X4kNmmmBpCSYgDirect btax/b collections up 33% in first half of FY09/a font size=-1 color=#6f6f6fnobrLivemint/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/8-4fd=Rurl=http://www.rttnews.com/Content/AllEconomicNews.aspx%3FNode%3DB2%26Id%3D732956cid=1254761692ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNGAoWipuXAeVnUOT3vnj0GiEcRC2wnobrRTT News/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/8-5fd=Rurl=http://www.financialexpress.com/news/Direct-tax-revenue-smiles-on-Indian-economy-with-a-growth-of-32-54-/370108/cid=1254761692ei=IQXrSJmdLp_I8ASawpWBCQusg=AFQjCNF8p7Pb4GVxCby-JAlihe8Pv0bsBwnobrFinancial Express/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254761692hl=ennobrall 25 news articles/nobr/a/font/div/font/td/tr/table

Looking for low taxes in retirement? Avoid New Jersey - Boston Globe

Taxes - Google News

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