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Updated about 4 years ago,
Sold Business - Need to Prevent Huge Tax Bill - Real Estate?
Hi there
I am brand new here and I am not sure this will be posted, so I am going to make it concise:
I have a business that I recently sold for 4 million.
I am going to have a large tax bill.
I did not sell my LLC, just the assets and the inventory.
Can I use this LLC to now buy real estate as a write off? Perhaps just buy something outright as a huge writeoff?
I am having the hardest time finding an answer to these types of questions.
I am not quite sure my account knows what she is talking about. Would most CPAs know a lot about this stuff?
Is it a certain type of CPA? Or is a tax attorney my person?
Thank you.