Acquiring business with a loss
Business partner and I co-own a business under our own corporations. The business is down money and we will probably close it. His personal corp is up money. He wants his corp to wholly acquire our failed business, so he can offset the losses against the gains in his personal corp.
I feel this is a bad idea and could cause problems. Would rather just wind it down.
thoughts?
I feel this is a bad idea and could cause problems. Would rather just wind it down.
thoughts?