--- title: Business Financials, Taxes, and Selling a Business description: When you’re interested in selling a business, your tax returns become an indicator of the success of your business. image: https://www.tworldnorthstar.com/hubfs/Blog_Images/calculator-1680905_640.jpg --- **[![phone](https://www.tworldnorthstar.com/hubfs/2020%20Website/white-phone-solid%20(1).svg "phone")(888) 290-5232](tel:888-%20290-5232)      ![envelope](https://www.tworldnorthstar.com/hubfs/2020%20Website/envelope-solid-white.svg "envelope") [northstar@tworld.com](mailto:northstar@tworld.com)** [![TRANSWORLD-LOGO-2023-2Color-VF-02](https://www.tworldnorthstar.com/hs-fs/hubfs/Tworld%20Logos/TRANSWORLD-LOGO-2023-2Color-VF-02.png?width=1801&height=600&name=TRANSWORLD-LOGO-2023-2Color-VF-02.png "TRANSWORLD-LOGO-2023-2Color-VF-02")](https://www.tworldnorthstar.com/) ![4 Team members](https://www.tworldnorthstar.com/hs-fs/hubfs/2020%20Website/Imagery/4%20Team%20members.jpeg?width=1350&name=4%20Team%20members.jpeg "4 Team members") # Transworld Blog From business brokerage to mergers and acquisitions; we are the business sale specialists. - [selling a business](https://www.tworldnorthstar.com/blog/topic/selling-a-business) # [Business Financials, Taxes, and Selling a Business](https://www.tworldnorthstar.com/blog/business-financials-taxes-and-selling-a-business) [Read More →](https://www.tworldnorthstar.com/blog/business-financials-taxes-and-selling-a-business) - [buying a business](https://www.tworldnorthstar.com/blog/topic/buying-a-business) - [selling a business](https://www.tworldnorthstar.com/blog/topic/selling-a-business) - [For Entrepreneurs](https://www.tworldnorthstar.com/blog/topic/for-entrepreneurs) - [Case Studies](https://www.tworldnorthstar.com/blog/topic/case-studies) - [**](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.tworldnorthstar.com%2Fblog%2Fbusiness-financials-taxes-and-selling-a-business) - [**](https://www.twitter.com/share?url=https%3A%2F%2Fwww.tworldnorthstar.com%2Fblog%2Fbusiness-financials-taxes-and-selling-a-business) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://www.tworldnorthstar.com/blog/business-financials-taxes-and-selling-a-business) [All Posts](https://www.tworldnorthstar.com/blog) # Business Financials, Taxes, and Selling a Business - [Tweet](https://twitter.com/share) When you’re a business owner, the end of the year tends to look a little different for you than for the rest of the world. While others focus on the changing weather, upcoming holidays, visiting with loved ones, and eating comforting meals, you’re more likely to be crunching numbers, meeting with your accountant, and balancing an annual budget. ## Balancing Your Business Financials ![Business financials, taxes, and selling a business](https://www.tworldnorthstar.com/hs-fs/hubfs/Blog_Images/calculator-1680905_640.jpg?width=320&name=calculator-1680905_640.jpg "Business financials, taxes, and selling a business")There’s nothing quite like the end of a calendar year, and in business, you need to make this time of the year work for you. With your accountant or accounting firm handling your financials, they’ll help you break as even as possible. When the clock strikes midnight on New Year’s Eve, you likely already know whether this year was a profit, a loss, or [an even break](https://www.sba.gov/starting-business/business-financials/breakeven-analysis). ## Tax Returns and Selling Your Business When you’re interested in [selling a business](https://www.tworldminnesota.com/blog/selling-a-business-how-long-does-it-take-to-sell-a-business), your tax returns become an indicator of the success of your business. In fact, if you’re thinking about selling your business in the next three years, having a tax return that shows a profit margin is a very valuable thing. That profit margin becomes an indisputable truth that your business is experiencing financial success, which appeals to potential buyers. If your tax returns show a profit, two very specific things happen: 1. You’ll pay taxes on that profit 2. You’ll be in a better position for marketing and selling your business ## Business Financials and Selling a Business As the end of the year approaches, keep your big-picture business goals in mind. If you’re looking to sell, realizing a profit on your returns could be seen as a benefit throughout the selling process. If and when you decide to sell your business, let your accountant know your intentions. This way, they can [help you position](https://www.tworldminnesota.com/blog/selling-a-business-who-needs-to-be-involved-in-the-sale-of-a-business) your business financials in a way that will be helpful at the time of sale.     ![Scott Hislop](https://www.tworldnorthstar.com/hubfs/website_templates/TWMN_2016/blog-thumb-scott.jpg) ###### Scott Hislop CEO & Owner at Transworld Business Advisors | Business Brokers Helping Entrepreneurs Achieve Their Dreams and Goals Through the Complex Process of Buying or Selling a Business [Get In Touch](https://www.tworldnorthstar.com/talk-to-advisor) ![](https://cdn2.hubspot.net/hubfs/2029673/Assets/Search_Image.png) - Recent - Popular - Categories ### Lists by Topic - [buying a business (56)](https://www.tworldnorthstar.com/blog/topic/buying-a-business) - [selling a business (26)](https://www.tworldnorthstar.com/blog/topic/selling-a-business) - [For Entrepreneurs (10)](https://www.tworldnorthstar.com/blog/topic/for-entrepreneurs) - [Business Sale Process (8)](https://www.tworldnorthstar.com/blog/topic/business-sale-process) - 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Where you might imagine pop-up tent trailers going for $15–20K, the owner and his team specialized in high-end adventure vans, or “Class B” RVs, ranging between $100–200K. - [Transworld Business Advisors](https://www.tworldnorthstar.com/blog/author/transworld-business-advisors) - 4 min read - Jan 11, 2024 3:17:00 PM ## [Case Study: How Transworld Helped PWC Sell Their Business in 7 Months](https://www.tworldnorthstar.com/blog/case-study-how-transworld-helped-pwc-sell-their-business-in-7-months)   Sales Timeline: 7 Months   The Background Professional Wireless Communications. Inc. (PWC) has provided reliable and affordable two-way radio solutions in Minnesota and Iowa for 25 years. The company has a loyal and diverse clientele, from schools and hotels to casinos and stores. Pat and Paula Green, a husband-and-wife duo, started the business from scratch. With Mark, their salesperson and 20% owner, they have built a profitable and reputable enterprise. As they neared retirement, the Greens wanted to sell the company and focus on family. Mark also desired to sell, but remain employed by PWC. - [Transworld Business Advisors](https://www.tworldnorthstar.com/blog/author/transworld-business-advisors) - 4 min read - Aug 24, 2023 9:00:00 AM ## [Case Study: Selling a Pet-Sitting Business in Less Than 4 Months](https://www.tworldnorthstar.com/blog/case-study-selling-a-pet-sitting-business-in-less-than-four-months)   Sales Timeline: Less than 4 months Sale Price: $320k   The Background Located in the Twin Cities, the owner of Whiskers to Tails Petsitting had proven to be a successful entrepreneur focused on providing care for animals in the home. As a former employee, the owner took over the business in 2019 and successfully operated it through the COVID-19 pandemic. - [Transworld Business Advisors](https://www.tworldnorthstar.com/blog/author/transworld-business-advisors) - 5 min read - Aug 17, 2023 9:00:00 AM ### Your Goals Are Just the Beginning Talk to one of our Advisors today about next steps. 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