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    prize's Avatar
    prize Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Mar 9, 2008, 08:15 AM
    We recently sold our business and have to pay a large tax bill.
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    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's Avatar
    prize Posts: 3, Reputation: 1
    New Member
    		  
    #3

    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.
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