Transfering company into someone else’s name holds a number of possible taxation issues.
A small business owner may prefer to transfer their company to their wife’s title for many different reasons, such as for example your retirement, asset security or perhaps the need to take up a brand new business. The transfer may be carried out as an outright purchase, a short-term rent or even a transfer of ownership legal rights. Each procedure features its own appropriate, economic and taxation implications in addition to procedure is somewhat various for various kinds of company framework. Moving a company to your lady, in place of an unrelated company associate, additionally holds property and gift income tax implications.
Should your company is a single proprietorship, you’ve got the directly to make all choices about the ownership and procedure of the company. (más…)