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The Difference Between an Asset Sale and a Stock Sale

Posted in Small Business, Tax News on May 18, 2023

This article is original content written by Thomas Scanlon, CPA, CFP® of Manchester, CT. Closely Held Businesses looking to negotiate a sale of their business will either do an Asset Sale or a Stock Sale.          …

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3 Proven Reasons a Connecticut Business Owner Should Elect Subchapter S

Posted in Tax News on September 29, 2013

    Business owners of corporations will by default have a “C” Corporation.  If they are eligible and they elect, they could be a Subchapter S (“Sub S”) corporation.       An eligible Sub S corporation meets the following…

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Why a Growing Business Should Elect Subchapter S Filing Status

Posted in Tax News on August 4, 2011

The primary reason to make the Subchapter S filing status election is to have a single federal income tax when the business is eventually sold.  If the corporation is not an S corporation and the company assets are sold, there…

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