Archive for the ‘Finance’ Category
Posted by
Tom Craig
in Personal Finance 
When you've set a tentative target for each category, subtotal the income and expense categories and subtract the total expenses from the total income to arrive at your net income. This will be the amount of money you have left over for building an emergency fund, making additional payments on ...
Posted by
Tom Morgan
in Bankruptcy
After the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Chapter 7 bankruptcy became difficult to qualify for. The first hurdle is a "means test," which looks at your income relative to others in your area. If you don't qualify under the means test, you can still try to ...
Posted by
Tom Craig
in Personal Finance
It's a good idea to put together a budget worksheet to get started in setting up your budget. You'll get some help on doing it here, but make sure the categories you use fit your personal lifestyle. Use the basic common categories that apply to everyone, such as housing, utilities, ...
Posted by
Jeff Hardy
in Business Loans SBA
Let’s say that you have started a brand new business. Growing a new small business to $1,000,000 a year will take a sizeable amount of capital. You will probably need to be able to complete hundreds of sales per month. You will need at least one employee. With this kind ...
Posted by
Jeff Hardy
in Taxes Income
You can't really "audit-proof" your business completely, because the IRS performs random tax audits. However, random audits are fairly rare. The real problem is the targeted tax audit. The IRS has certain secret parameters for small business and personal tax returns. These parameters are typically ratios or percentages of types ...
Posted by
Jim Johnson
in Business Loans SBA
A well-formulated business plan serves three important functions. First, it serves as a plan of attack—how to get started in business. Second, it serves as a guideline enabling you to steer the business into a profitable position and then keep it there. Third in the event that you seek to ...
Posted by
Tom Craig
in Business Loans SBA
In order to raise capital for your new or existing business, you can also contact your state chamber of commerce to locate state-level programs. The assistance available will vary between different states, just as it does at the city and county levels.
The following is a list of some common methods ...
Posted by
Tom Craig
in Business Loans SBA
If you are writing your business plan for the purpose of borrowing money or raising capital for your new or existing business, you need to understand how potential lenders or investors will look at your business plan. Financial professionals use several ratios to help them understand the viability of your ...
Posted by
Jim Johnson
in Business Loans SBA
Dealing with a bureaucracy is never a fun experience, as anyone who has renewed a driver's license, purchased car tags, obtained a marriage certificate, erected a sign, or added a room to a house will attest. They are likely to have experienced a system in which job security is not ...
Posted by
Tom Craig
in Business Loans SBA
The SBA opens the doors of opportunity for small businesses by helping them secure capital; it backs eligible firms that are having trouble securing conventional financing by offering loan guarantees or loans made by private lenders. In 2001 alone, the SBA made 42,957 loans totaling slightly under $10 billion. The ...
Posted by
Tom Craig
in Business Loans SBA
Documentation requirements vary with the type and size of the loan; you should first contact your lender regarding information you must supply. Common requirements include: purpose of the loan, history of the business, financial statements for three years (existing businesses), schedule of term debts (existing businesses), aging of accounts receivable ...