Sellers' Cost When Selling A Business
What are the cost when selling a business?
The costs include:
- Capital Gains Tax
on sale of business, It is best to consult your accountant to understand the tax impact of the sale.
- Other Tax Liability
state, county, city taxes will be due prior to or at the time of sale.
- Landlord Fees
for repairs and back rent as applicable.
- Escrow Fees
For example, for a business that is sold for $200,000, escrow fees can vary from $1,500 to $3,000 depending on escrow companies used and services rendered.
- Broker Commission
for services rendered. The commission is typically a percentage of the purchase price.
- Advisor Fees
Fees related to a CPA, attorney, or wealth manager.
Contact us today for a free consultation on your business!
In the video above, Top Business Broker Adrianna Smith discusses the different costs that sellers should consider when selling a business.
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