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.
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