An asset sale is a common method for transferring business ownership. The purchase and sale agreement for the business entity or assets is a vital document.The taxes on the sale of your business will depend on the transaction type and structure as well as the company's assets, price allocation, and balance sheet. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Learn about the key tax considerations that executives need to make when contemplating the sale of a business San Jose CPA. The gain or loss on each asset is figured separately. The sale of capital assets results in capital gain or loss. There are three ways to file the Business Property Statements (571-L) 1. Filing your statement via the internet 2.