Good day Mr. Madan,
I’ve got a restaurant business that I am interested in selling. However the price that I bought it at compared to the price that I can now sell it at is has a large variance hence I would have to pay a large amount for capital gains. I would be using the funds from the sale to put into another business venture and was wondering if there is some way to minimize the capital gains that I would incur?
I was told that one does not have to pay capital gains if the funds are being used in another active business but I haven’t found that to be true with anything I found online.
Thank you for your help.