Sorry, but nobody serious will take you seriously when you say "I have no idea what my product will cost." If you don't know, who does? You are expected to come up with a good estimate.... (more)

You are not in an enviable position. I'm also not clear on how you "know" you can make the money back when your liabilities exceed your assets and you have not mentioned any other... (more)

1099's are for services paid to non-incorporated businesses and individuals for services greater then $600 in a calendar year. So if you are paying your promoter for their services and they are not... (more)

That is a personal option as to whether you want payroll to be a separate bank account. I have clients who do both. I would keep it simple and just have one bank account because it will be one less... (more)

You're right--it does seem high for that square footage. I am not sure what city you are in though, so there might be built-in city fees in this proposal. Remember everything is negotiable and... (more)

Purchasing large dollar equipment (over $500) will be categorized as the purchase of an asset. If the cash came from personal funds, then the offsetting entry to assets will be either a loan to the... (more)

I wish it were that easy. Profits are what's left over after operating costs (including direct and indirect costs, costs and expenses, cost of goods and services, fixed and variable costs --... (more)

There is no rule hidden somewhere that an expert can retrieve and share with you. The acceptable rate of growth is what you accept until you have bosses or owners or investors that establish... (more)

I recommend recording the amount of the meal at full cost and then having a "discount" or "coupon" option on your price register so that you can track the amount of income you are giving away... (more)

You need to review the last 5 years of financial statements with your own business accountant along with the balance sheet and cash flow statements to analyze the profitability and stability of the... (more)

You need to review the last 5 years of financial statements with your own business accountant along with the balance sheet and cash flow statements to analyze the profitability and stability of the... (more)

Yes, if you are paying interest as it relates to business, they should provide you with a 1099 Int. and it is a deductible business expense. (more)

If the first and only location isn't doing well or needs fixing, then don't get into a second location. If your first location is doing well, then that's something that comes from business... (more)

The short answer is no, not easily. In most cases you settle for reasonable estimates. Publicly traded companies (meaning that their stock is traded on a stock exchange) are required by... (more)

The short answer is no, not easily. In most cases you settle for reasonable estimates. Publicly traded companies (meaning that their stock is traded on a stock exchange) are required by... (more)

The answer is hidden in your question. Additional debt is never good or bad in a vacuum; it depends on what got you into the need for that extreme debt, and how realistic your prospects of getting... (more)

The answer is hidden in your question. Additional debt is never good or bad in a vacuum; it depends on what got you into the need for that extreme debt, and how realistic your prospects of getting... (more)

Yes -- if it is for an employee, then taxes need to be withheld on ANY compensation. (more)

When I host events, I have a no refund policy as well. If you have to make the go/no go decision, then that should be implemented for your clients as well. There will always be reasons someone will... (more)

When I host events, I have a no refund policy as well. If you have to make the go/no go decision, then that should be implemented for your clients as well. There will always be reasons someone will... (more)