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 |