Join the 9 million people who found a smarter way to get Expert help

Recent Cash Flow questions

I would like to know if a sole proprietorship would be

I would like to know if a sole proprietorship would be financially beneficial for me. I've looked up previous questions/answers and have notice that there have been similar questions to mine but were a little date, which from my understanding the law of tax is ever changing! I plan on starting a side business from my home. It will be for custom furniture and decoration. The Start up expenses will be 30k that I will fund myself from my primary employment. I make 53K a year as a single father of one. I'm not sure what else to include for your assessment of my situation but I look forward to your response

Read more

Lev

Retired

Bachelor's Degree Equivalent

24,808 satisfied customers
No tax questions. This is personal advice. I returned to

No tax questions. This is personal advice. I returned to work after retiring and my husband was put a medicine with a $700.00 a month copay until we get in the catastrophic range. Our medical expenses are way over the percentage recommended. Our income is ok as long as I work but my own health is changing some. We have medicare; medicare supplements; and several life insurances which total up to too much for our budget. complicated problem Want to reduce some costs. Not sure how or if I shouldJA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: Not that i know.

Read more

Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

10,330 satisfied customers
We informed to the IRS that we will start paying payroll in

We informed to the IRS that we will start paying payroll in January 2017, but we do not have profit yet. Do we need to report anything to the IRS or EDD?

Read more

Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,062 satisfied customers
I have a large amount of credit card debt that I racked up

I have a large amount of credit card debt that I racked up building and starting a new business and I have been trying to service it monthly since 2005. During this time the interest rates just keep climbing and now two of the cards have rates over 25%. Last year I made payments of over $6,000 per month and I'm not getting anywhere. I feel that I'm just throwing my money away and now I'm having a hard time paying my other bills. I need help but don't want to wreck my credit score (still over 650) or my relationship with my bank (who hate my cc debt but won't help me with it either).I started researching about credit card debt management and found a company GreenPath (supposedly in my area) and called them. I got a counselor, not from my area, but felt very good about the conselor that I was assigned to and felt satisfied about the time and attention to detail that he took about my case in two appointments. He now has a plan written up for me that will reduce my rates and I just make one payment to GreenPath for $2500 per month, of which $75 goes to them for administering and setting up the deal. With this plan I should be debt free from these cards in less than 5 years ($130K in current credit card debt). Plus they tell me that if I stick with the plan my credit score will probably increase!! Sounds pretty simple and why didn't I do this 5 years ago?? Now I didn't spend a lot of time searching for companies or plans (more prayer time than search time) and I need to do something NOW, so I need you to give me sound advice on this situation.My question is: What are my options; is this a good plan for me, what are the disadvantages and is GreenPath a reputable company or am I getting sold a bill of goods, plus are there other companies out there that will do this better or have a better plan?Thanks in advance!!

Read more

PDtax

Owner

Master's Degree

7,658 satisfied customers
I was just approved for a new credit card that will allow me

I was just approved for a new credit card that will allow me to balance transfer. They just sent me the card and I have not activated it yet. The website says once I activate the card I can transfer balances.Card 1: I have a $3,000 limit card that's close to the max that has a 9% rate on it with a 2,800 balance..Card 2: The second card is $5000 limit with 23% rate with a $3700 balance.The new card has 11,000 limit and I can transfer balances for 0% but the rate for purchases is 20%. I was thinking of taking the remainder of my cash advance balance on Card 2 and paying down Card 1. Then just transfer my balance of Card 2 to the new card to take advantage of the 0%. Then just try to pay down card 1 and make minimum payments on the new card until it's paid down.My goal is to raise my credit score. I want to sell my current home and downsize but I'll need a mortgage hopefully April 2017. I'd rather have the 9% card in my wallet than have to use a 20% card.Is this viable?

Read more

Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

10,330 satisfied customers
Is January usually a slow retail month? It's started out

Is January usually a slow retail month? It's started out slower than last January. How much should we discount to get rid of winter merchandise to make room for spring??

Read more

Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

10,330 satisfied customers
I am wanting to secure an SBA loan to move my home based

I am wanting to secure an SBA loan to move my home based business to a storefront location. I also am looking at buying a condo. I have a bankruptcy from 2011 and my credit score is only 709.Should I buy the house first to have something to secure the loan?I'm not quite sure the order of events that would be most beneficial.

Read more

Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

10,330 satisfied customers
I need about 20-30 thousand to remodel my house. I have 2

I need about 20-30 thousand to remodel my house. I have 2 current mortgage loans, which one should I re-finance? The first one is with Wells Fargo. Current debt is $87,960 current home value is $200,000 the interest rate is 4.75%. The other is with Primary residential mortgage FHA risk based. Current debt is $155,697. Home value is $210,000 with interest rate of 4.375%. Or will it be better to apply for a line of credit instead of refinancing my house?

Read more

PDtax

Owner

Master's Degree

7,658 satisfied customers
I have a question about the best way to handle my current

I have a question about the best way to handle my current financial situation.I need to know the best way to handle potential investments and to keep my cash flow consistent. I will be more specific if there is someone who can respond with options.

Read more

PDtax

Owner

Master's Degree

7,658 satisfied customers
View more finance questions
In The News