How to lower the cost of capital gains on selling a bed and breakfast?

By getting professional tax advice BEFORE selling, contracting to sell, or even listing the property for sale.

Too often, people come to a tax pro AFTER the transaction is complete asking how to save on taxes. At that point, there is generally little or nothing that can be done, all that they can tell their clients is the proper way to report the sale on their tax return. If the client had asked for advice before the transaction, ways could have been found to structure the transaction to save on taxes.