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It looks like Abdul represents the seller of the business, so none of that is his concern. In fact, it’s probably better for the current owner if he simply sells the company. All of the gain is capital and he transfers most, if not all, of the company’s liabilities to the buyer. Unless the buyer is getting incompetent advice, however, it’s very unlikely to happen that way.
Matthew Bigelow, E.A.
JLZ Business Services, Inc.
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Wouldn’t that liability apply to the buyer and not the seller of the corporation?
Matthew Bigelow, E.A.
JLZ Business Services, Inc.
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From: clientwh...@googlegroups.com <clientwh...@googlegroups.com>
On Behalf Of Diana Skocypec
Sent: 08/03/2022 12:22 PM
To: clientwh...@googlegroups.com
Subject: Re: [clientwhysconnect] Sale of Corp
The attorney I live with has recounted several cases of successor corporation liability that he was involved in. I agree with Alma.
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Well, in this case, the original poster represents the seller, but others seem to be addressing issues faced by the buyer. (E.g., one response said they don’t recommend buying the corporation, which is irrelevant to the question posted by Abdul.) Since the buyer is not the focus of the question, I want to make sure we are putting our attention to the issues the poster is asking about, which concern the seller.
Matthew Bigelow, E.A.
JLZ Business Services, Inc.
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Lee Reams Sr., BSME, EA Chief Content Officer CountingWorks Pro | CountingWorks | TaxBuzz | TaxCPE p: w:
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On Aug 3, 2022, at 2:23 PM, 'scott jessup' via ClientWhysConnect <clientwh...@googlegroups.com> wrote:
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