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prorate taxes, security deposits, etc.
Posted: Wed Aug 24, 2005 9:18 am
by Charles Dieter
How does one handle security deposits of renters when a business is sold?
Re: prorate taxes, security deposits, etc.
Posted: Thu Aug 25, 2005 12:30 pm
by Shawn Sisco
Deposits are a liability of your business, write a check to the buyer at time of closing.
Re: prorate taxes, security deposits, etc.
Posted: Mon Aug 29, 2005 7:05 pm
by Chrissy Jackson
Or, show it as a liability on the closing statement on the seller's side and an asset on the buyer's side . . . so in effect it will reduce the selling price by the total amount.