Guide: Exit Your Business | Strategy Ten

Gifting a Business

Is money not an issue for you? Do you want to give back to your community? Are you wanting to help plan for your children or a grandchild’s future? The idea of gifting assets from your business might be a good route for you. When gifting things like assets, equity or stock in the business to charities, organizations or family members, there are a few ways you can structure things.

First, you could do a comprehensive gift. This essentially means all shares and assets in your name would be transferred right away to the entity of your choice. You could also do a partial gift. This would mean that you retain certain aspects of ownership of the business assets, and gift the interest made on that asset either for a period of years or for a lifetime. Either way, this may be a great option for you to give back!

Frequently Asked Questions

Do you have questions about exiting your business? You should consider checking out our Resource Navigator. It houses the contact information of 400 of our most helpful partners from across the state who provide free to low-cost assistance to Iowa entrepreneurs and small business owners.

Q: Is gifting your business tax deductible?

A: Consult with your tax or legal advisor for this answer.

Q: Could you partially gift your business?

A: Absolutely. Whether you are looking to donate assets to charitable organizations or your own family, gifting can be a very attractive exit strategy.

Q: What is a great way to give back using my company?

A: Donating assets you have acquired or will acquire over time, for example.

 

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NOTICE: The information included on this website is to be used only as a guide. It is not intended to cover all provisions of the law or every taxpayer's specific circumstances.

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