Welcome Guest. Register Now!  

For 2013 Tax Tips For Year 2013.

LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 02-28-2014, 04:01 AM
Junior Member
Join Date: Feb 2014
Posts: 1
capital gains when selling a business

sorry if i post this in the wrong area, new to here. been reading around the website for awhile now decided to join.

I'm wondering if any of you could help clarify something for me?.
If i buy 50% of a LLC and then later that month i sell the 50% of that same LLC. Since it was held under 1 year it should be taxed at regular income right? I heard somewhere that if the money from the sale is put into an escrow account it wont be taxed til the escrow is empty or "breaks"( basically you don't have to claim it on your taxes til the escrow account breaks). Is this true? So could i see that LLC for 2 billion dollars and take the 2 billion in 2 installments? The first installment would be 1,999,999,999 dollars and the second installment of 1 dollar would set in the escrow account for 370 days. since it was over a year could i get long term capital gains tax rate?

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Capital gains on selling foreign property gilligan Capital Gains 3 02-06-2014 04:08 PM
Selling Homes / capital gains Exemption sogorman For 2013 1 12-26-2013 06:46 PM
Selling S-Corp - taxed at ordinary or capital gains rrkingcool S-Corporation 0 12-17-2010 04:17 PM
Need to sell business in order to get capital gains treatment TMP007 Capital Gains 0 03-29-2009 04:55 PM
What is the treatment for Capital Gains and Capital Losses in a C-Corporation? katlee C-Corporation 1 02-01-2009 05:23 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 » Income
 » IRA/Sep
 » Medical
 » Payroll
Forum for CPAs
Financial Planning