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Business owners may be challenged by the potential size of their tax burden during the sale of their business. For many founders, the original cost to start the business might have been low, but the sale of business interests may trigger significant capital gains taxes for the owner. There is an alternative, however, that may keep owners from taking on the full weight of this tax liability: charitable giving.
Guiding owners to donate portions of their interests can be an effective way for them to claim a deduction of the fair market value of the donated interest while potentially reducing their capital gains exposure. Preparation and timing are critical to this strategy. Since its inception, Fidelity Charitable® has converted $13.2 billion in non-publicly traded assets into dollars for charity. Leveraging this experience, we’ve compiled this resource to help business owners when contemplating this complex strategy.
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