Business owners who are thinking about retirement or changing careers may be considering a management or key employee buy-out of the business. It can be a great idea in the right circumstances, but as with all major financial decisions, you need to get all the facts first and think it over carefully. If you're wondering whether this would be a good idea for you, check out this article by Western Business Brokers called Is a management buyout right for you?
Also, check out my book called Succession Planning Kit for Canadian Business.
Also, check out my book called Succession Planning Kit for Canadian Business.
ReplyDeleteMy wife and I just sold our primary residence in Oshawa and we will be moving into our new residence in September. We also purchased a townhouse near UOIT ,this residence has been occupied for almost a full year by my daughter .. Can that property be considered a primary residence and can we sell it the same year if she lived in it for a full year with no tax implication? or must we wait for the second year before selling it ? If it can be sold the same year as my other property can it be listed before the year end and can the closing be at the 1 year mark?or must we list it on the market at the 1 year mark of my daughter occupying it ?