Tax planning critical when buying a business

To improve the odds of a successful acquisition, it’s important to devote resources to tax planning before your deal closes. For example, discuss whether and how much each party can deduct their transaction costs and how much in local, state and federal tax obligations the parties will owe upon signing the deal. And if you and your seller use different tax processing software or follow different accounting methods, you need to choose between them as soon as feasible. We can help you ensure you plan properly and minimize any potentially negative tax consequences.