Money & Finance

Yes, lack of cash flow can kill any business, but it seems to hurt more in business partnerships. First, there’s the denial phase (“sure, we can continue to meet expenses and take our monthly draws”).  Then, there’s the belt-tightening phase (“we’ll hunker down, but this, too, shall pass”).  And then, like a slowly seeping poison, […]

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Post image for Basic Training: C is for Creative Accounting

In these times of dire economic predictions, here’s a bold query from someone with a little too much cash on her hands. [And yes, I skipped “B”] Q.: It seems as though the larger my company gets, the more profit we show and the more money I just hand away to the government. What are […]

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Post image for Basic Training: The ‘T’ Word

Oh . . . it’s not what you think it is. This week’s “T” word is TAX. 🙂 Q.: How do I file a business tax return if I am married? I am starting a consulting business (LLC) with my sister; however, I plan to get married in the near future and I am concerned […]

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Post image for Basic Training: Fun (or Not) with Finances

The year is winding down, and it’s a good time to get a handle on your finances and tax situation. Here are few questions of a financial and tax nature that hearken back to that age-old advice: Get an accountant! Q.: What do I do with credit card finance charges, late fees and over-the-limit fees? […]

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Post image for Getting Paid in a Tough Economy

Cash (flow) is king, especially in a challenging economy. But there are ways you can ensure that you get paid in a timely manner.  Jamie Herzlich’s article in Newsday gives some handy pointers, including: Staying on top of unpaid invoices Developing a system for handling them Putting payment plans in place ASAP (if full payment […]

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Post image for New Legislation to Help Home Office Deductions

Rep. Charles Gonzalez (D-TX) recently introduced the Home Office Tax Deduction Simplification and Improvement Act (H.R. 7074).  According to a press release by the U.S. Small Business Administration’s Department of Advocacy, the goal of the bill is to simplify the home office deduction by introducing a standard deduction for small-business owners.  It is companion legislation […]

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With the post-9/11 demise of some insurance companies and the refusal of others to insure New York businesses, insurance rates are definitely spiraling . . . often out of the control and the reach of the small business pocketbook. This has affected all forms of insurance including medical plans, workers’ compensation, and general liability. With […]

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They say that “fools rush in where angels fear to tread,” and the same applies to raising capital for your business from friends and family. The personal relationship should act as an extra warning flag to you that such transactions should not be treated lightly or casually. When times are hard and other sources of […]

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Cash flow challenges present a dilemma that many entrepreneurs face. You need to grow, but lack the available cash to invest in the growth. For example, you may need a computer network, or telephone system, and the sticker price sends you into an anaphylactic shock. What’s a business owner to do? Thankfully, for some, there […]

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Post image for Raising Investment Capital–Beware of ‘Finders’

Let’s face it. Not all of us are independently wealthy. Sometimes we need financing from others to help convert our dreams into tangible reality. But is it legal to give someone a “piece of the action” for finding a source of capital? The answer, writes my colleague, Steve Furnari, Esq., is an unequivocal “no.” Read […]

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