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PatGale
Level 3
February 21, 2022
Question

Treatment of income from sale of employer's business

  • February 21, 2022
  • 16 replies
  • 31 views

My client is receiving payments as a result of the sale of his former employer's business.  Total of payments based upon a percentage of total sale amount.

This topic has been closed for replies.

16 replies

J
jeffmcpa2010
Level 10
February 21, 2022

What form are the payments being reported to him on?

    IRonMaN
    IRonMaN
    Level 15
    February 21, 2022

    Assuming the payments are being reported 😁

    Slava Ukraini!
      sjrcpa
      sjrcpa
      Level 15
      February 21, 2022

      Was your client a part owner of the business?

      Are these payments a retention bonus?

      Are they shut up and don't sue us payments?

      The more I know the more I don’t know.
        P
        PatGaleAuthor
        Level 3
        February 21, 2022

        He received a percentage of sale as a benefit from working hard to make business better. 1% per year worked

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