Hello all,
I'm not sure if I'm in the right place but here goes. I'm in the middle of planning my exit from a company that my partner and I got into last year. We're more than likely going to walk away with a sale price around $1.4M. What we're trying to figure out is how to minimize the huge self employment tax hit that we're going to take. It almost feels like a punishment to a small business owner to get hit with such a high tax percentage. I'm being told it can be as high as 40%.
Is there anything we can do to minimize the pain like re-invest the money somewhere, open retirement accounts with it, etc?
Any help or direction is appreciated!
Submitted August 04, 2017 at 02:50PM by andyglive http://ift.tt/2vxzwxj
