Most Recent Questions in Money
If your contract is for five years, legally, you are not obligated to pay him early. However, if the previous business owner would like his principle early, you should find out the going rate for... (more)
Even if your corporation earned no income, many states have what they call "minimum franchise taxes." This is like an annual fee/tax for the privilege of being able to say you are an... (more)
Whether your partners are local or overseas, there are a number of issues that you will need to address. These include: the capital contribution that each will make to the business, the involvement... (more)
A business plan is going to be a critical part of getting financing from traditional lenders, angel investors or any group of investors as it lays out the plan along with financial projections. In... (more)
Start off with two separate bank accounts. For personal assets and resources that you use for business, you will need to track the portion that applies for business. For example, any additional... (more)
The key is having a budget and ensuring that your pricing model enables you to cover your direct and indirect costs, loan repayments as well as distributions to the owner. Cash is King...work with... (more)
What fees should I expect to pay to receive help finding financing or investors for my business plan?
There was a time when most people used the traditional Lehman formula, which was 5 percent for the first million, 4 percent for the second, 3 percent for the third, 2 percent for the fourth, and 1... (more)
If I sell non-refundable coupons in 2008 for products that will be available in 2009, can I count the revenue in 2008?
How you account for revenue depends on whether you have set up your company on a cash basis or an accrual basis. Where you'll run into some issues is the fact that you're receiving the cash in one... (more)
If you are seeking specifically accurate information by pay grade or job, you really must look at the cost per employee to figure out the hourly add-on for benefits. There are many, many... (more)
In dealing with any type of debt, there are three components--interest, fees and time. To alleviate debt, you need to reduce interest, reduce fees or extend the time for repayment. You will... (more)
With this slow economy I am quickly sinking. Should I look into filing bankruptcy, finding investors or simply selling my new dream bakery?
First off, it's not about going bankrupt or shutting down--it's about getting the information and advice you need to make the business a success. In this type of environment, you need to sell your... (more)
Congratulations on figuring out how you're going to keep track of your books BEFORE you get too far along in business. While I don't know your business well enough to make recommendations, it's... (more)
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