This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Sale Of Business Assets Agreement With Goodwill Format In Travis
Category:
State:
Multi-State
County:
Travis
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
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Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. In contrast to a stock purchase, the buyer in an asset transaction will only acquire the assets described in the acquisition agreement.This article offers guidance on helping clients take advantage selling personal goodwill as a tax strategy. Financial advisory practice sales are based on the transfer of individual assets, with the purchase price representing the value of those assets. Owners of a business can realize significant tax benefits if they are able to sell goodwill as a personal asset. A taxable asset purchase allows the buyer to "step up," or increase, the tax basis of the acquired assets to reflect the purchase price.