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Submitted 254 days ago...
Deal Structure on Buying an Existing Business
I got a counter offer on a purchase of a business-only gas station, but the contract called for a purchase price of 350K plus 200K (as an addendum to the contract) for "consultation fee". I have offered it for 550K. I'm trying to buy this gas station as an Corporation. So my question is: what are the legal and tax consequences on my Corporation if I accept this counter-offer? What are the consequences if I decide to sell it later? It looks like the seller is trying to reduce his tax liability on selling his business. Please advise.
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