S20: He Lost $5M to the CRA Because He Trusted His Accountant
Selling a business isn’t just about finding a buyer or negotiating the right price. In this episode, I walk you through the five stages of a business sale where having the wrong people on your team can cost you millions — or kill the deal entirely.
Show Notes
Selling a business isn’t just about finding a buyer or negotiating the right price.
In this episode, I walk you through the five stages of a business sale where having the wrong people on your team can cost you millions — or kill the deal entirely.
In this episode, I cover:
• Why “cleaning up” a business before a sale can create hidden tax risks
• How due diligence works — and what buyers are really looking for
• Why the Letter of Intent (LOI) can lock in costly tax mistakes
• The role of tax advisors, brokers, and accountants in business sales
• Why the wrong advice early in the process can destroy a deal later
The difference between the right team and the wrong team can mean millions of dollars — or a deal that never closes.
*Links:*
🔗 *Download the Deal Team Checklist:* https://theadvisorstable.com/5m-business-sale-killed-wrong-team-mistakes/
📥 Resources from this episode
Deal Team Checklist
Build the right team 12–24 months before you sell. Defines the four roles — existing accountant, deal-experienced tax advisor, M&A lawyer, broker / investment banker — what each is responsible for, and the questions to ask before signing engagement letters.
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