I've sold TinyPilot, my first successful business as a bootstrapped founder. I grew it from $0 to $1M/yr in revenue in four years, and I'm incredibly proud of the company and product, but it felt like the right time for me to move on. mtlynch.io/i-sold-tinypil…
Congrats ! how does it work with tax when you sell a business ? Do they tax you as normal salary or capital gain etc ?
Thanks! I believe it's capital gains (not positive, still working with my accountant), but in my case, the taxable income should be pretty low. Because of Section 174, I had a lot of "banked" expenses that were amortizing over 15 years, but they now offset income from the sale
Oh whoops responded to the wrong post but I hope you’re doing QSBS for 0% federal tax at least
Thanks! Would I need to be a corporation for that? TinyPilot is a single-member LLC.
United States Trends
- 1. Obamacare 156K posts
- 2. Gameday 32K posts
- 3. #SaturdayVibes 4,962 posts
- 4. Sesko 46.8K posts
- 5. Ugarte 16.2K posts
- 6. Texas Tech 8,130 posts
- 7. De Ligt 26.2K posts
- 8. #Caturday 5,132 posts
- 9. Good Saturday 33.9K posts
- 10. Trump Stadium 2,313 posts
- 11. Richarlison 21.7K posts
- 12. Calen Bullock N/A
- 13. Cunha 25.5K posts
- 14. Insurance 196K posts
- 15. Amorim 66.5K posts
- 16. Luis Diaz 24.1K posts
- 17. Casemiro 24.7K posts
- 18. Goretzka 1,917 posts
- 19. Odobert 4,932 posts
- 20. Dalot 12.7K posts
Something went wrong.
Something went wrong.