2 min. read
The tax code considers a business to be a collection of assets, and someone who offers a business for sale is trying to sell all of these assets together, from the IRS’ point of view.
Nevertheless, you may not want or need all of a business’ assets; you may want only the building, only the patient base, etc.
Form 8594 is a tax document that lists the purchase price and its allocation to the specific assets. Buyer and seller both file, and assets are classified as:
Join for FREE and keep reading...
To keep reading, join our free Starting Into Practice program now! As a new DC, we know you need resources to help you succeed as you launch your career. Starting Into Practice is your free one-stop shop, whether you’re looking for resources related to job-hunting, joining an existing traditional or integrated practice, or starting your own. A few of our helpful resources include:
- Articles on everything from contract negotiation to marketing plans
- Practice Checklists
- Free webinars from experienced DCs
It’s important to us that the chiropractic profession grows and thrives, regardless of your insurance provider — but we’re always here when you need us, whether it’s insurance or financial solutions.
Sign in Join for free