If I sell my supermarket, I mean only the business because I don't own the property. Do I have to pay capital gain. I purchased my business in june of 2005 for 0K and now sell price is around .2 million, yes I have improved it this much. Now I have two concerns, first how much taxes do I have to pay, and if I can do 1031 exchang how much time do I have to find a bussines to buy. How can I legaly avoid paying tax.
Chosen Answer:
You cannot avoid paying tax. You can only defer those taxes under certain circumstances.
Do you want to
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