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Old 07-28-2017, 08:26 PM
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Join Date: Jul 2017
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Capital Gains - Father wants to sell rental properties

Hi All,

My father, who is 72, is ready to sell his rental properties: mini-storages/apartments (this is his career). He's put his whole life into the business and is looking for a sensible exit strategy. He is a sole proprietor and is afraid of the massive capital gains taxes. We have a family Accountant but would like some ideas of how to structure the sales before going to speak with him. Any suggestions? Would reorganizing the business structure help? He is literally a "Mom & Pop" shop...no employees besides his wife and myself helping out (not taking salaries).

Truly appreciate your time and help!


Mike



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