Business Sale- Brings a Unique Stewardship Opportunity
For many private business owners, virtually all of their net worth is concentrated in the value of their business. As the owners of privately-owned businesses approach retirement, plans for exiting the business must be made.
Only one in five business owners expect to transfer their business to a family member (PricewaterhouseCoopers study).
The sale of a long-owned business may result in substantial capitals gains tax liability.
Demonstrate your faithfulness to the One who entrusted you with such wealth by including a charitable gift of a portion of the business in your business exit planning. Your charitable gift must be completed before you make an agreement to sell your business.
Benefits of such a giving plan include reduction of your long term capital gains tax liability, a charitable income tax deduction based on the market value of the portion of the business you give to (or for) charity, and the potential for increased income if you use a life income giving plan.
For more information go to www.kybaptist.planyourlegacy.org/GIFTbusiness.php.