Think Charitably When Selling a Business

Thu 5 Dec, 2013 / by Cable Huston / General

Each year clients contact us to evaluate their charitable giving options. Most of these conversations take place at the beginning or end of the year. When owners are evaluating whether to sell their business, we encourage them to think charitably when planning for the transition. Charitable gifts are beneficial to both the business owner and the recipient.

Outright gifts to charities

Assets gifted to a charity outright do not cause any gift taxes to accrue. Additionally, gifts to a charity result in an income tax deduction. To use the income tax deduction, gifts of items other than cash….read more