Compensation for Business Buyer

[mrsp]

What is the name of your state?What is the name of your state?What is the name of your state? Texas

Hello,
I am selling a business and would like to bring in the buyer prior to the change of ownership as a matter of training. He'll receive a set amount of compensation during this interim period but, how do I pay him and he manage his own income taxes, etc...?

This is new territory for me. Thanks for your time.

 

[JETX]

Better solution.... let him purchase the company and retain YOUR services for a period of time for 'training'. You can include the compensation for this training in the purchase price... or enter a separate 'employment contract' stipulating your responsibilities and compensation.