More details to this question:
We bought into a franchise business (Tropical Smoothe Cafe) in 2007 for 75,000.00. We are selling it for 90,000.00 but putting back15,000 of that for upgrades. Will our accountant know what we will owe in taxes or do we need a tax attorney? Not sure what we will need to do. Please advise. We close on March 13th
1 ANSWER
Any halfway decent accountant should have no problem with this, probably better (almost certainly cheaper) than a tax attorney.
Answered on Mar 06th, 2015 at 1:13 PM