Reducing Taxes on a Business Sale - WSJ

Although she didn't need the proceeds of the sale to fund her retirement, she had other goals she wanted to achieve from the transaction.

"She was a smart lady, and she had saved a substantial amount of money," says Scott Thompson, president of Thompson Wealth Advisors, which manages $30 million for 80 clients in Mooresville, N.C.

She wanted to exit her business and use the money to generate supplemental income. And she wanted to minimize any taxes incurred in the process. Working with her certified public accountant, attorney and business broker, Mr. Thompson devised a strategy that achieved both his client's goals.

The woman owned both the business and the property on which it was located. However, she held the real estate in a separate limited liability company, giving her two assets to sell. That meant Mr. Thompson could pair two tax breaks for maximum effect.

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