Tag: Business Finance

A. One of the benefits of owning your own business is the option of how you are established for tax purposes. As examples, you can be a partnership, sole proprietorship, LLC, Sub S, or Sub C. The choice is made according to how you can pay the least amount of taxes both individually and as a business.Over the many years you own the business, your accountant is likely to advise you on how to claim as many expenses as possible. There are items that as an individual you cannot claim as an expense, but...

A. For a business to have a comfortable amount of cash on hand, the business cannot be experiencing a tremendous growth or a comparable downturn in business. When there is a lack of sales, the business will have a tendency to require you to sell off inventory to pay the operating expenses. Of course, if you need all of that inventory to produce what sales you have, then you find yourself with a lack of cash.At the opposite end of the spectrum is the business that is experiencing a sizable increase...