One business owner sold the company to another with what he thought would be an installment sale. This would have allowed him to spread the gain over the years in which proceeds were received. The problem: The note for future payments was payable on demand. According to a federal district court, the note did not have a payment date, so it was treated “on demand” and installment sale treatment did not apply. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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It's important to take care of ourselves and take steps to nourish ourselves--body, mind and soul. We may have to do this in different and creative ways now that many of us are staying at home. It's still important that we take time for ourselves. #selfcare #Health