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In other words, forget about selling assets cheaply and pocketing the cash, or worse, giving away assets to friends or family for free.

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Request refunds on your workers' compensation premiums and liability insurance premiums, if your policies' terms allow it.

Likewise, leased property belongs to the lessor, not to you.

Your main options are to return the property or to "assign" the lease contract to someone else (the lessor will usually have the right to refuse an assignment, however).

Don't expect to get more than 80% of an assets value, at most.

If you have items that will be hard to sell, such as worn out equipment and office furniture, consider donating them to charity for a tax deduction.

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