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Updated about 5 years ago,

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2
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0
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Creighton Cross
  • Specialist
  • Knoxville, TN
0
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2
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Best tax strategy for capital gains from Business Sale

Creighton Cross
  • Specialist
  • Knoxville, TN
Posted

I am trying to invest in some type of real estate with the proceeds of a business sale.  I would like to utilize the purchase of an asset that I could refinance next year to pay off the capital gains taxes that will be due from the sale of the business this year.  Has anyone else done something like this?  I currently own office properties, residential rentals.  I am looking at possible Qualified Opportunity Zones, but seems that I would be a minority partner in a syndicate or group.  If I go it alone, I have flexibility to refinance to pay the taxes potentially, thus using the income and the appreciation to pay for the taxes, while utilizing the most capital investment possible.

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