Selling or buying an S corporation

As the buyer, you want to be able take deductions for amortization or depreciation on the value of goodwill and other assets.  As the seller, you want to avoid ordinary income on the sale of inventory or depreciated assets.  Careful planning using the new taxpayer-favorable provisions can give both parties a lot of what they want, but every “i” has to be dotted and every “t” crossed.  Understand the options ahead of time to maximize benefit for both of you.