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View Full Version : We recently sold our business and have to pay a large tax bill.


prize
Mar 9, 2008, 08:15 AM
Is there any way to get a loan for paying our taxes (50,000.00) Other wise we have to use our home equity which I hesitate to do . I don't want to combine the house with the business... What is the smartest thing to do?

ScottGem
Mar 9, 2008, 08:24 AM
Let me get this straight. You sold your business, apparently for a tidy profit, and now you need to pay taxes on that profit. Didn't you set aside some of the profit for your tax liability?

Sure you can get a loan for anything. Just depends on your credit.

prize
Mar 9, 2008, 12:32 PM
Not a lot of cash was left after paying off some debt. Some of the transaction involved stock options which we can't cash out on yet.