Its George
I am selling my online business
... it is finally going to go through, and I was wondering about the allocation. I am getting 100k from them, and then 60k consulting contract for 12 months. I have already made about 100k year to date with my mortgage business. I just had some quick questions for you:
1.) Would it be beneficial to hold that 100k in some escrow account for a couple months, until the first of the year, and then pay it out to me? Would this be better for me tax wise?
2.) Since this website business is mostly software and intellectual property, it is going to be taxed at 15%? Is that right?
3.) Is there some optimal way for me to allocate the purchase price? i.e. how is the optimal way to allocate the purchase price for a website?
4.) Have you ever heard of any third party entity that can hold my money so that I am not taxed on it until I take it out at the first of the year?
Kind Regards,
George