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Most Recent Questions in Money

What is the standard to buyout a seller financed note?

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)

Do I have to file back taxes on my inactive corporation?

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)

What should I be aware of while creating an LLC with a foreign partner?

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)

How do I apply for government grants?

1. Recognize that what grants are there are tied to some public good or non-profit goal. Classic examples are developing an underdeveloped area, neighborhood or region; developing some technology... (more)

How do I find a debt equity backer?

Debt and equity backing are two different concepts. Normally you will utilize a traditional lender to provide debt or search out various investors that are looking to be a debt backer vs. equity... (more)

Are there ways to finance a startup business even though I have poor credit?

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)

How can I collect money owed for work completed?

Speak with a small claims attorney about how to take legal action against the cleaning contractor who is in breach of your agreement. You want to make sure that the agreement in the promissory... (more)

How do I separate personal expenses from business expenses?

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)

Are there taxes on advertising sales?

You will need to contact your secretary of state to see what taxes/rules apply to your type of business. (more)

How does a small business owner set aside enough money to actually make a profit?

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 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)

Do I have to pay income taxes on debt settlement?

The IRS considers $600 or more of forgiven debt as taxable income, but in some circumstances you may have to pay income tax on canceled debt that falls below $600. There are some exceptions--for... (more)

How do I beat the bank runaround?

A lot depends on your personal and business credit, as well as what you are using the loan dollars for specifically. There's not enough information in your question to give much insight, but I... (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)

Can Subchapter S retired stock be un-retired?

If you sold your interest in a business back to the corporation and later bought back in, the corporation would simply issue new shares to reflect the new purchase. In the ideal world, when... (more)


You're going to have to do a lot of educated guessing because there's no hard and fast source for this kind of information. I searched around and found patches of information here and... (more)

Is there a formula for calculating hourly payroll expenses per employee?

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)

How can I restructure my spa business to alleviate debt?

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)

I'm starting a small boutique. Is Sage BusinessWorks my best bet for accounting?

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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