While the first question a business owner asks is, "What kind of price can I expect in the marketplace if I sell my business," the real question is not the price paid for the business, but how much will you take home.

The Federal Tax Laws determine how much money you will actually be able to put in the bank. How your business is legally formed can be important in determining your tax status when selling your business.

For example: Is your business a corporation, partnership or proprietorship? If you are incorporated, is the business a C corporation or a sub-chapter S corporation? There are some tax rules that impact certain businesses on seller financing.

The point of this tip is that before you consider price or even selling your business, it is important that you discuss the tax implications of a sale of your business with a tax advisor that is experienced in business transfer transactions.

A business broker will be able to recognize potential problems and can refer you to tax professionals if you don't already have one that is experienced in tax issues related to business transfer transactions.

You don't want to be in the middle of a transaction with a solid buyer and discover that the tax implications of the sale are going to net you much less than you had figured. By structuring the transaction to properly address tax matters beforehand, you will not feel quite as robbed by Uncle Sam.