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Most Recent Questions in Money

How Can I (Legally) Support Myself With Funds Raised for an Early-Stage Startup?

It's certainly legal to pay yourself a salary with some of the capital you raise from investors. As far as your ethical concern goes, it largely depends on your agreement with investors and the... (more)

How Can I Keep an Employee I Cannot Afford to Pay?

You are certainly in a tough spot. Seems as though you cannot afford to pay this person and you cannot afford to do without him—especially if he is working 60 hours a week. I don’t like... (more)

How Much Should I Pay Retailers for Selling My Product?

This is typically done on consignment, by which the store receives some kind of split on what they sell. Revenue is usually split 60 percent to the store and 40 percent to you, although... (more)

What Should I Consider Before Seeking a Business Loan?

This is a tough one to answer because so much depends on the specifics of your situation, what resources you have, what level of funding you need, how you feel about business with family and... (more)

What's the Best Way to Find Startup Money?

Seek an advisor first, before you seek an investor. Find someone local with related experience -- maybe an attorney or a counselor at the nearest Small Business Development Center. Check... (more)

How Much Should I Charge for My Service?

You need to work out what your numbers are on the expense side first, then determine what you bring in terms of value to the table to price your services accordingly. Since you are in the... (more)

What is a Good Resource for Determining Employee Pay Scales?

Compensation information for professionals who specialize in this field is very expensive and is produced by major companies like Aon Hewitt, (more)

How do I find market research for my business plan?

A doggy daycare business sounds like a fun and fast growing venture. I performed preliminary market research online to get a sense of the opportunity and will share my findings with you below.... (more)

Does the IRS accept scanned receipts for tax write-offs?

You sure can scan your receipts and throw away the originals. Most taxpayers don't realize it but the IRS has actually accepted scanned receipts as far back as 1997. The rule that supports... (more)

How can I get small-business grants?

Congratulations on the paintball venture. I think that is something everyone can enjoy. Now to the tough part -- funding the launch and operations of the business. Small business grants can be... (more)

What's the best way for a startup to handle taxes?

It is understandable for a startup to be cost conscious when it comes to expenses such as tax preparation. Entrepreneurs would rather use their limited capital towards spending that results in more... (more)

How can I calculate my yearly projection?

Building a financial model for a business that doesn't currently exist is always tricky. With that in mind, it is important not to get too bogged down on the specific revenue or expense numbers but... (more)

Is my WACC taxed?

Taxes only apply to the debt portion of your Weighted Average Cost of Capital equation. Businesses are allowed to deduct interest paid on debts on their federal taxes, so this must be accounted for... (more)

How do you evaluate the cost of hiring a new employee?

Generally, if you are generating revenues that equal half the cost of a new employee (and remember, that cost should include additional benefits and package costs), you can go ahead and hire.... (more)

How do I value a partner's share in a privately-held S corp?

This is a very important question and one that involves a significant amount of analysis as you want to recognize the full value of your portion of the company. To reach a specific valuation,... (more)

When converting from an IRA to a Roth, do I have to file self-employment tax?

The Roth IRA conversion is a great opportunity but it is really important to understand the mechanics of the process and the economics as applied to your specific financial situation. To... (more)

Is there a tax advantage to forming an S-corp?

I like that you're thinking outside the box when it comes to how your income is taxed. This is an incredibly convoluted topic, and the potential benefits of forming an S corporation in this manner... (more)

When's the best time to seek additional financing for my startup?

Congratulations on achieving two key business milestones: developing a patented product and generating revenue. Many startups never even make it that far. The timing of when a startup should... (more)

How can I source financing companies for my customers?

There is no question that it's a great idea to work in partnership with certain financing companies to provide your customers with more payment options. However, you want to be very selective in... (more)

How can I secure financing to purchase a business?

Congratulations on taking a chance with trying to purchase a business. The best opportunities to do this often occur during a recessionary period when many companies are sold at deep discounted... (more)
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