Richard, I hope your weekend is off to a good start. This is
Good Morning Richard,I hope your weekend is off to a good start.This is a specific area of the law, with regulation. So, if you are not familiar, no problem.We have one client in a very foundational, local, single-location, bricks-and-mortar business, 5+ years in business, profitable, popular and respected. And growing. Nothing fringe like a strip club or marijuana dispensary. Just a good old business-to-business wholesale manufacturer. Good business and owner personal credit. Perfect D&B.This client is 3-6 months away from being able to transition to low-cost bank financing (even SBA, and already qualifies based on FICO SBSS score). But the current, shorter term, higher cost debt, used strategically to expand and grow to this point, is rough on cash flow.The business made $200k in net profit on $1.1mm in sales last year (which is above average for its industry), but can't retain any of it due to servicing the short term debt.Since they have expanded and experienced fast growth recently as part of the successful expansion plan (last 5-6 months, rock solid and continuing), it's a little too early for the quality term loan e-lenders who lend $300-500k, 3-5 year terms, at 8-14% interest....without a formal appraisal. This should be the next step, before this client becomes formally bankable at prime + 2, SBA.They are turning down very profitable work, and running out of cash, which is unfortunate.They are considering soliciting a debt or equity investor online, Craigslist, and have actually done so successfully a few times over their 5 years. One such investor still remains, one has been bought out.In theory, this is fine. But I think the regulatory landscape for this kind of offering has become more restrictive.Do you know anything about this, and/or have any suggestions? This client would be an attractive acquisition or co-investment target within its own wholesale/manufacturing industry, and there are many suitors in the immediate area, mostly much larger than my client. But I think this will take too long, and the timeline is not reliable.They need cash pretty quick.Initial thoughts, both as a businessman and/or attorney.As always, thanks.
Can you explain to me? FIRST/ THE EMAIL HERE RYAN'S PROPOSED
Can you explain to me ? FIRST/ THE EMAIL HERE PAUL RYAN'S PROPOSED BUDGET CUTSRepublican Budget CutsThese are programs the new Republican House has proposed cutting.* Corporation for Public Broadcasting Subsidy -- $445 million annual savings.* Save America 's Treasures Program -- $25 million annual savings.* International Fund for Ireland -- $17 million annual savings.* Legal Services Corporation -- $420 million annual savings.* National Endowment for the Arts -- $167.5 million annual savings.* National Endowment for the Humanities -- $167.5 million annual savings.* Hope VI Program -- $250 million annual savings.* Amtrak Subsidies -- $1.565 billion annual savings.* Eliminate duplicating education programs -- H.R. 2274 (in last Congress), authored by Rep. McKeon , eliminates 68 at a savings of $1.3 billion annually.* U..S. Trade Development Agency -- $55 million annual savings.* Woodrow Wilson Center Subsidy -- $20 million annual savings.* Cut in half funding for congressional printing and binding -- $47 million annual savings.* John C. Stennis Center Subsidy -- $430,000 annual savings.* Community Development Fund -- $4.5 billion annual savings.* Heritage Area Grants and Statutory Aid -- $24 million annual savings.* Cut Federal Travel Budget in Half -- $7.5 billion annual savings* Trim Federal Vehicle Budget by 20% -- $600 million annual savings.* Essential Air Service -- $150 million annual savings.* Technology Innovation Program -- $70 million annual savings.*Manufacturing Extension Partnership (MEP) Program -- $125 million annual savings..* Department of Energy Grants to States for Weatherization -- $530 million annual savings.* Beach Replenishment -- $95 million annual savings.* New Starts Transit -- $2 billion annual savings.* Exchange Programs for Alaska Natives, Native Hawaiians, and Their Historical Trading Partners in Massachusetts -- $9 million annual savings* Intercity and High Speed Rail Grants -- $2.5 billion annual savings.* Title X Family Planning -- $318 million annual savings.* Appalachian Regional Commission -- $76 million annual savings.* Economic Development Administration -- $293 million annual savings.* Programs under the National and Community Services Act -- $1.15 billion annual savings.* Applied Research at Department of Energy -- $1.27 billion annual savings..* Freedom CAR and Fuel Partnership -- $200 million annual savings..* Energy Star Program -- $52 million annual savings.*Economic Assistance to Egypt -- $250 million annually.* U.S.Agency for International Development -- $1.39 billion annual savings..* General Assistance to District of Columbia -- $210 million annual savings.* Subsidy for Washington Metropolitan Area Transit Authority -- $150 million annual savings.*Presidential Campaign Fund -- $775 million savings over ten years..* No funding for federal office space acquisition -- $864 million annual savings.* End prohibitions on competitive sourcing of government services.* Repeal the Davis-Bacon Act -- More than $1 billion annually.* IRS Direct Deposit: Require the IRS to deposit fees for some services it offers (such as processing payment plans for taxpayers) to the Treasury, instead of allowing it to remain as part of its budget -- $1.8 billion savings over ten years.*Require collection of unpaid taxes by federal employees -- $1 billion total savings. WHAT'S THIS ABOUT?* Prohibit taxpayer funded union activities by federal employees -- $1.2 billion savings over ten years.* Sell excess federal properties the government does not make use of -- $15 billion total savings.*Eliminate death gratuity for Members of Congress. WHAT???* Eliminate Mohair Subsidies -- $1 million annual savings.*Eliminate taxpayer subsidies to the United Nations Intergovernmental Panel on Climate Change -- $12.5 million annual savings. WELL ISN'T THAT SPECIAL* Eliminate Market Access Program -- $200 million annual savings.* USDA Sugar Program -- $14 million annual savings.* Subsidy to Organization for Economic Co-operation and Development (OECD) -- $93 million annual savings.* Eliminate the National Organic Certification Cost-Share Program -- $56.2 million annual savings.*Eliminate fund for Obamacare administrative costs -- $900 million savings.* Ready to Learn TV Program -- $27 million savings..* HUD Ph.D. Program.* Deficit Reduction Check-Off Act.SAVINGS: $2.5 Trillion over Ten YearsSECOND/ THE COMMENT I RECEIVED THAT I DO NOT UNDERSTAND - WHAT IS HE SAYING HERE TO ME ABOUT THIS EMAIL MESSAGE ?''''Looks like a lot of these are "savings" over ten years, and in fact reductions in the assumed rate of budget increases (baseline budgeting) rather than actual cuts relative to this year's budget. '''''
I have specific question regarding licensing in WA state. I
Hello, I have specific question regarding licensing in WA state. I am a cat breeder and I am buying cannel licence from King county. Now cattle shelter is stating that I have to pay for each can I have in my cattery every year as well to them. So, this is double licensing is legal? Can you take a look for me please?Thank you in advance.
I recently sold a website under an asset purchase agreement
Hello,I recently sold a website under an asset purchase agreement that had a buyout condition That payments would be made on the 120th and 290th days of ownership. Buyer has already reached the 120 day mark and failed to make the scheduled payment as outlined in the APA.It is worth noting he made the first $100k payment upon execution of the APA.I am needing a lawyer to review the APA and see what my options are here.
If there are two privately held businesses, one in a mature
If there are two privately held businesses, one in a mature market that is losing value, the other a successful business growing, both owned by the same person, what benefit would there be to an acquisition of the weaker company by the stronger company? I know the own wants to cash out and sell the weak company before it continues to lose value or become worthless, and saddle the other company with a note created by him to finance this acquisition, but since the owner already owns 100% of the stronger company (which is now being saddled with debt to make the acquisition), the owner could achieve the same result by continuing to run the two companies separately and simply forcing the stronger company to take out a note to pay himself whatever he wanted, or pay himself bonuses to equal whatever money he wanted. Is there a tax benefit for this acquisition or perhaps it could be used to somehow hamstring one of the productive partners in the more successful business (there is no equity sharing at the stronger company, just compensation based on profitability).
Loren, I have a N.Y. divorce question. If an LLC is started
Good afternoon Loren,I have a N.Y. divorce question. If an LLC is started after serving of papers but not before granting of divorce is this asset part of all marital assets? How does he protect this asset from this moment on ?Another... when do separate incomes become separate. After filing of papers? After granting?Yet another... would you a say it is true that who ever raids the savings accounts first gets to keep the money?Ok and... If it is coming (and it is) is it better to file and serve first or wait?
I was given an answer to a similar question last night,
I was given an answer to a similar question last night, however it may have lacked some of the following details and would like this question answered now that I have provided perhaps a more organized background for the consideration of my question. I am forming an LLC for an online consulting business, as well as developing a couple additional websites for the purpose of affiliate marketing. These additional websites ultimately tie into the consulting. The main site will be a blog, forum, and appointment generator. Revenue will come from any advertising that may be associated to the site once it gains traffic and through contracted consulting. I am building a website to list businesses for sale, and as a affiliate lead generating site for business brokers. Revenue will come from advertising space paid by business owners, and pay per lead affilates. I will have the site linked to the consulting site where I plan to look for opportunities to add value to those businesses by consulting on operations and marketing strategies. The other site will be an affiliate loan leads generator. This site will also be linked to the other sites as it will be gathering information as leads for business loan institutes. I currently live in South Carolina. I have been planning my business strategies for some time, however not until I made the decision to leave my salary position and give my full focus on my business did I plan, or research much on the time of expedition of the LLC as well as what benefits may be available forming in another state. I have looked into Nevada as it appears to have all the protections I would want in a llc, they also offer the series in the llc. I plan on all sites to operate under one llc, and given my interpretation of the series see that as an opportunity to protect each site individually under the operating LLC Name. Is my interpretation correct? Also given I did not research the expedition of South Carolina llc formation, which is 35 days/25 if rushed, the nevada expedition can be done as fast as 2 hours for a fee with normal processing 6-7 days and for an additional $50 it can be done in two. The state filing fee is less than South Carolina as well. The expedition process is important to me, as I wish to set up and fund a business account asap, and want to launch everything under the protection of an llc. I have some cushion financially, but it is limited. All this being said I will be a single owner for this formation. The only potential change I can for see in the next year would to bring in a profit sharing partner. I plan to outsource any work to freelancers rather than have employees for now. Given the information I provided is forming in Nevada a good consideration?
I have been looking into forming my llc in Nevada. My
I have been looking into forming my llc in Nevada. My business plan is for consulting and acquisitions. I am launching my business through the internet. I am going to have a website set up as a blog and a place to share numerous spreadsheets and strategies along with an appointment generator. Additionally and building a couple websites for the purpose of affiliate marketing. All the websites I plan to fall under the one llc, and at any point one takes off with more substantial revenue I would create an llc for that particular site. I also plan on acquiring some established affiliate and marketing websites. I reside in South Carolina, and will be operating the business by myself until the point I feel the need to employee other people. I have also considered having a profit sharing partner at some point, but not an owner. The long term plan is to create a consulting organization and to build teams. For this to take place I will want to be able to show potential investors that my model works so I can get the funds to grow the organization. Regardless I look to do much of the consulting remotely. My questions are would Nevada be a good state to form an llc based on the information I have provided you. If so, will forming in another state create any issues when I go to establish a business checking account, this of course after establishing a registered agent and obtaining a federal ein. I have also looked into having office space, would I have to register in South Carolina if Office space is used?
I am starting my own business. I plan to do business
I am starting my own business. I plan to do business consulting and building a website and blog as a catalyst for the business. I have also purchased two other sites than I plan to launch as affiliate marketing sites. I may additionally purchase an established site through auction. My plan was to establish an LLC as a Consulting & Acquisitions group and have the sites and consulting all part of one unified group. If one site produced significantly I would look to establish it as its own operating entity. Currently I am establishing this by myself, but have a business plan to grow and potentially hire employees. For now I will just outsource to freelancers. Will a basic LLC suffice in establishing this business.
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