You can take it with you: Five tax tips before selling your business

Speaking with CNBC, Day Pitney Private Client Partner Jordana Schreiber explained how tax planning well before a business sale can help owners keep more of what they’ve built.
 
From gifting minority business interests at a discount before an offer arrives to using trusts to help protect assets for children, she highlighted strategies for preserving and transferring wealth. She also addressed a common misconception about relocating to a lower-tax state: spending fewer days in the original state doesn’t necessarily mean leaving its tax obligations behind.
 
Read the full article to learn more about tax planning opportunities and potential pitfalls before selling a business.
 
A version of this article appeared in CNBC’s Inside Wealth newsletter, a weekly guide to the high-net-worth investor and consumer.