Robert Cozine
Junior Member
What is the name of your state? CA
My divorced parents each own 50% in a family business (C corp). They are both retired. I am the president of the corporation. I am looking to buy the shares from my parents over a 30 year payment plan. What would be the tax consequences to my parents?. Would there be any tax issues with the corporation as well.
My divorced parents each own 50% in a family business (C corp). They are both retired. I am the president of the corporation. I am looking to buy the shares from my parents over a 30 year payment plan. What would be the tax consequences to my parents?. Would there be any tax issues with the corporation as well.