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Elon Musk’s Bold Move and Its Ripple Effects

When I was reading the paper last night, I saw an interesting article about how Elon Musk is trying to de-annex Tesla's factory from the city of Austin. This is something that's been permissible since about September last year when a very controversial state bill was passed. How's that going to affect Tesla? How's it going to affect Austin? And how's it going to affect Texas in the future?
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What are the tax implications of selling a business?

Tax implications of selling your business
Planning for the tax implications of selling your business is an essential part of maximizing your financial outcome. Many business owners underestimate the tax impact which can lead to unexpected financial strain.  In this article, you will learn about some of the top tax considerations involved in selling a business, highlighting the importance of structuring the deal optimally to reduce tax liabilities. This content is meant to illuminate the importance of strategic tax planning, but should not be considered tax advice. Depending on the specifics of your business and the deal other tax implications may apply than what is covered here.  You will want to ensure you get personalized tax advice from a qualified tax professional, a key member to have on your expert team. How the sale of a business is taxed Capital Gains vs. Ordinary Income A business sale is taxed at ordinary income rates or capital gains…
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How to Find a Buyer for Your Business

How to find a buyer for your business
Selling your business is a significant milestone in an entrepreneur’s journey. For many entrepreneurs, finding the right buyer is the capstone of their hard work and reflective of their dedication to pre-sale planning. Whether you’re planning to retire, start a new venture, or simply want to hand over the reins to someone else, understanding how to find the right buyer when you’re ready to sell your business is critical.  It’s tempting to latch onto the first interested party, but patience and due diligence can pay off. This blog post will guide you through the process of identifying and securing the right buyer for your business. Cast a Wide Net for Buyers  To attract the right kind of buyer you will want to cast a wide net.  By reaching out to a range of sources, you’ll open up more opportunities for finding the best fit buyer. Consider these options:  1. Engage…
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Your Guide To The Letter of Intent (LOI) – An Essential Document for Selling Your Business

Two men talking about writing a letter of intent
What’s a Letter of Intent (LOI) To Sell  Selling your business starts to feel real with the introduction of a critical–yet misunderstood– document: the Letter of Intent (LOI) to Sell. This document, while not usually a final agreement, sets the tone for what is to come, acting as the "rules of engagement" in the negotiation process. Just as a marriage proposal signifies a commitment to a shared future, an LOI marks the start of a delicate dance between buyer and seller, where strategy, foresight, and negotiation play key roles. As the seller, you will want to ensure you’ve completed your Deal Book prior to signing an LOI, anchoring the valuation benchmark as high as possible. This initial reference point in the LOI will be the number against which the buyer negotiates and tries to chisel away at the value.   Beyond outlining the intentions of both the buyer and the seller,…
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