Closing before or after year end

by a searcher

3 months ago

Hi All! 

The seller’s year end is Aug 31, and he is hoping to finalize the transaction prior to this date. Are there any pitfalls to doing so, that I should be concerned with? 

I have contacted numerous accountants on Vancouver Island, but all have been too busy to chat. 
I welcome you feedback.

All the best!

Mike

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10 comments

searcher from IESE Business School

Rushing is never a good ally, but there could be a tax reason. In my opinion, it is always better to discuss your concerns openly with the seller.

3 months ago | like reply | 0 likes

intermediary from The University of Chicago - Booth School of Business

Is there seasonality? Could it be he wants to deduct closing expenses against this year's expenses? Sounds like you have Stock purchase transaction.

3 months ago | like reply | 0 likes

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