This is where you need to use ACCRUAL ACCOUNTING. If done with this, the exact amount of this issue is known to the minute of the closing.
Dave
Type: Posts; User: dave@businessecon.org; Keyword(s):
This is where you need to use ACCRUAL ACCOUNTING. If done with this, the exact amount of this issue is known to the minute of the closing.
Dave
I just saw this thread. Today is your lucky day! My brother owns two liquor stores. I'm a former CPA and he is an active CPA. So you will do OK. First off, I will need to know what state you are...
iamstone:
I'm a former CPA and I understand this situation well. Let's get some basics knocked out of the way first. 1) Why is the driver selling? 2) Have you confirmed the route owner's...
Machine:
Dan is pointing out what I too consider the obvious. You just can't call yourself a drafter or an engineer without some credentials to back it up. In many of the more lucrative...
Lets start out with more information to help us: 1) working with an existing house cleaning operation in a management position? 2) When do you want to retire and how old are you now? 3) You...
I agree, move on. He has had his chance to patent his idea. Once the cat is out of the bag, he who catches him, owns him!
An EIN is similar to a Social Security Number, when you go into business the IRS wants to understand what that business does in comparison to you as an individual. They call it an Employer...
I've seen this before. Just be quite and go about your business. Unless there is some super secret formula here, in general nobody cares. Don't open your mouth just work; people are impressed by...
As a former CPA and still doing some accounting work; I would suggest that you use the local commissioner of revenue's guidelines for accounting for personal property to pay personal property taxes...
on_my_own:
I started a series on whether or not you should write a plan. Go here: Start-Up Issues for the New Small Business Owner | Business Economics - A Library of Information and read a...
JMasterJ: What type of business entity is the operation running? Is it an LLC, traditional partnership? How many partners/Members? Then let's go from there.
Dave
Here's my thought: Tell the customer you plan to be around in 5 years. You have insurance, you'll go back to fix any errors, and you take responsibility when the wrong item is purchased and...
Grad Student: It's me again, the accountant. Look, the reality is once you get going at the firm you'll discover that you will not have time to invest into side jobs or other ventures. You'll be...
Lisa:
Every industry is different in how they deal with their situation due to costs of product and getting the product to market. So here you have Partner B that is soley responsible to endorse...
From experience, you should consider anyone that you use as an employee and pay the associated taxes etc. Now you can hire them as a sub contingent on many required elements. So to be a sub you...
Don't use Quickbooks unless you are really familiar with how payroll works. Use one of the national chains like paychex. For one employee you'll pay about $75 a month to process the documents etc. ...
You need to ask yourself one more question, once you get in; HOW ARE YOU GOING TO GET OUT? I've seen this 200 times in my career as an accountant; you just can't get up and walk away. It isn't that...
Can you provide more information? What type of products, what type of endorsements, what are the expected production costs, how much capital are we talking about? These all have a bearing on the...
The late 70's comment about checks becomming popular or more accepted stems from the Citigroup clearing house story. In the early 70's, they had to manually clear the checks between banking systems,...
To me, you've already convinced yourself you are going to do this. OK, so your next step is to read the Federal Law involved and your state laws. You'll need to hire a really good attorney to draft...
Huggytree:
I like your to the point post.
Dave
Why franchise then? Seriously, the reason folks franchise is to provide a recognized name, (which by the way if the guy fails, it will by your name that fails, not his) and guidance for the new guy....
Based on my math I peg you at age 28 or 29. So you haven't decided what you want to do in life yet. Take your money, put it in some CD's for a couple of years while you explore the world. Many of...
Wow, we sometimes forget history here. The procesing of money has changed more in the last 5 years than in the prior 30 years. Check writing came of age in the late 70's. Think about that for a...
huggytree:
What is POS? I like this but still haven't figured it out. My oldest son who is 16 guessed 'Publically ObScene'. I didn't think so.
Dave