“q & a”

Post image for Basic Training: Issuing Shares to Investors

Investors can be a real boon to your business, but no question–they’ll want a piece of the action.  What’s involved in issuing shares to them? Q: We currently have a market cap of $200,000 (2,000 shares X $100 per share). We were wondering how to authorize new shares to new investors. A: It’s not unusual for companies […]

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Post image for Basic Training: How to Divide Profits in an LLC

When you’re in business by yourself, the math is easy.  But when you have multiple owners, how should you share the spoils?  That’s the nature of this week’s basic training post. Q: How should I divide profits in an LLC? A: Especially in an LLC, you have many options for how to divide your profits. There’s no hard-and-fast […]

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Post image for Basic Training: G is for Get Your House in Order

When you start a business and it doesn’t do well, there can be consequences. Financial ones, especially. If you want to stick it to your creditors and walk away from the whole depressing, unprofitable endeavor, you can–that is, you have the ability to, provided that you’ve formed a limited liability entity, and “fraud” is not […]

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Post image for Basic Training: Bookkeeping and Business Startup

Today’s post deals with the conundrum, how to account for business expenses without a company bank account, and how to set up a company without business funds? Q.:  “I recently formed an LLC to create an online store. Because I saved diligently I had enough money in my personal savings account to cover all setup […]

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Post image for Basic Training: B is for Bide Your Time Until You’re Properly Capitalized

It’s only Jan. 2 (there was no WAY I was going to touch the computer yesterday), and already I’ve encountered a prime example of plus ça change, plus c’est la même chose, or, for those of you Yogi Berra fans, it’s déjà vu all over again.In short, same s**t, different year. My New Year’s wish […]

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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 Jerked Around by a Business Partner

From the “No good deed goes unpunished” department: Q: I deposited more than $20,000 into my business partner’s account under the impression that he would add my name to the new company and to the house I had paid off for him and that he would put my name on the new car title,  too. […]

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Post image for Basic Training: Z is for Zapping Yourself by Walking Away

OK, so there aren’t many usable “Z” words in this context.  🙂  Today’s Basic Training post revisits that old, old lesson that you can’t just escape or quit your business by walking away. Q.:   What are the ramifications if I walk away from my small business–just turn the keys over to the landlord and walk […]

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