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Professional Webmaster Business Issues Forum

    
Broker or otherwise?
Not sure the best way/place to turn
patc




msg:3965425
 3:47 pm on Aug 4, 2009 (gmt 0)

Hi,

I've got a site which I feel I've developed to the maximum of my ability and so got to the point of wanting to dispose of it. I've had a valuation done by an experience valuation company and it's come back between $150k-$200k based on extensive showing of stats/income and information.

The problem for me personally is I don't want to make the site and sale known publically, so have looked into brokering the deal. The next problem is that they all wrap the deal up in the context of a business, but I would be selling this personally as I have owned it myself from scratch.

Whilst I am still sending in info to various brokers to see if they can help, I wonder if anyone has had better success selling privately and the best place(s) to seek that whilst retaining a certain amount of anonymity to the wider world?

Thanks for any help,

Pat

 

LifeinAsia




msg:3965445
 4:20 pm on Aug 4, 2009 (gmt 0)

but I would be selling this personally

Given the evaluation, I have to assume:
1) that the site is making decent money already,
2) that you are reporting that income to the appropriate tax authorities, and
3) that the tax authorities consider your site some sort of business entity.
In you're in the U.S., if the site/business is "personal" (and not some sort of separate legal entity like an LLC, corporation, partnership, etc.), you'd report the income/expenses on Schedule C on your 1040 personal tax return.

Besides a broker, you should also strongly consider talking to your tax preparer and/or a lawyer to make sure things are setup on your side to minimize the tax hit if/when the sale goes through.

patc




msg:3965446
 4:23 pm on Aug 4, 2009 (gmt 0)

Hi,

Yes everything is above board taxwise naturally. The bonus for me selling it in the UK is something recent along the lines of 'entrepreneur relief', meaning the sale will be hit at just 10% for the first 1m (of ones life!).

Leosghost




msg:3965447
 4:23 pm on Aug 4, 2009 (gmt 0)

invest a little more money to keep your privacy ..pay a lawyer to set you up a "screen" ( company ) lawyers name only as owner ( he /she gives you signed witnessed written resignation and legal handover of ownership to you ..you fill in the date as suits you ) ..you as private individual sell for nominal $1.00 your site ( or whatever ) to "company" ..

company sells to new owner for whatver sum your lawyer and new owner agree ..

you date lawyers resignation ..

you take charge of company

you trouser the money ..

( taxes may need to be paid depending on your choice of company juristiction or your place of residence or your nationality or combinations of the above ) ..

legally sound ..common practice ..been there ..have the TShirt ..

depending where you set up the screen ..might cost you $1000.oo or $2000.oo

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