Summary: The thing with selling or transitioning your business, is that you must, at all costs, explore and look at the fine details or else it could be extremely expensive tax wise. Are you incorporated? If you are not incorporated, well now you’re selling something that is going to be completely taxed in the year that you are doing it. If you’re not incorporated and you’re selling this for a significant sum around $50,000, $100,00 or higher, then you should certainly consider incorporating your busi
