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Recent Cash Flow questions

I'm in the process of securing a unsecured startup business

I'm in the process of securing a unsecured startup business loan/line of credit. My credit is 750 and have 7 lines of credit with 7 years of history and pretty a clean credit profile. I'm looking to acquire funding in the amount of 350k. Do you believe this is something that might be attainable based on my profile. The lenders I'm looking at primary only base the funding on the credit worthiness of the borrower. I know this question might be difficult to answer in its entirely because there are so many variables involved however just on what I have provided do you be it is attainable?

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

11,194 satisfied customers
To continue, because we are a startup on a budget, we want

Hi Mark. To continue, because we are a startup on a budget, we want to give our employees a fixed lump sum allowance instead of reimbursing them.What do you recommend for the best tax advantage?

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Mark Taylor

Certified Public Accountant

Masters

3,762 satisfied customers
I'm 60 years old and trying to decide whether to refinance

Hi, I'm 60 years old and trying to decide whether to refinance or borrow from my 401k. I have a 192,000 mortgage at 5.65% and also 257,500 in my 401k. I can refinance 235,000 at 4.5% for 30 years, my house is valued at 370,000, or borrow 40,000 from my 401k at 5% and pay it back in 5 years. I need 40,000 to remodel my house and will stay in my house for another 10 years. Which will make more financial sense to me? Thanks Kathy Peck

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

22,492 satisfied customers
In business, what is the rule regarding the savings? What is

In business, what is the rule regarding the savings? What is the percentage of the revenue that should go into the business savings account for future purchases or investments? Thank you

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Andrew Jordan

Shareholder

Master's Degree

2 satisfied customers
EXPAT TAX I have a friend (lol) who is an American citizen

EXPAT TAXI have a friend (lol) who is an American citizen and expat, who has never worked in the US. Therefore never filed any taxes. But now wants to start an Amazon e-com business and create a US corporation? Some previous advice was given to just start the business and begin filing taxes through the corporation. What do you think is the best route for this situation?

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Matthew Breecher

President

MBA (Graduate Legal Studies)

360 satisfied customers
Be it a bridge loan or a home equity line... A buyer for the

Be it a bridge loan or a home equity line . . .A buyer for the house will turn up by weekend. Might Ron be given a new line of credit for $ 25,000 or less by one of the 2 banks that holds his credit lines on the house simply on the basis of escrow security of those funds (when escrow opens) even though he's a month behind in each of the credit line payments?We're told that federal guidelines prohibit a home loan (or any loan?) from being offered by a financial institution if the payer is one month behind. So the type of loan we need cannot be provided as a result of this rule. However it seems illogical that what is in essence a bridge loan secured by ample escrow funds, and the same loan which would insure the paying bank that they get their 10 X larger line of credit back, would be provided by them.Please advise.Susan

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

11,194 satisfied customers
Why is it that in evaluating commercial properties, the cap

why is it that in evaluating commercial properties, the cap rate (rate of return) is inversely related to the present value? i'd think that the higher the rate of return, the more desirable the property is (and therefore, the higher the value).

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Matthew Breecher

President

MBA (Graduate Legal Studies)

360 satisfied customers
Well I just formulated two businesses one being a non-profit

well I just formulated two businesses one being a non-profit s-corp and the other being an LLC. I am in the process of doing a 1065 and am a bit confused as to all the details. We only had two mopnths of being a business in 2016. Also The LLC helps fund our non-profit and i wanted to know the best way to have them work together. ThanksJA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?Customer: no

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

11,194 satisfied customers
Are you still working at this late hour? I have a question

Hello Stephen, are you still working at this late hour? I have a question for the 2017 tax year: I loaned money in cash to a beekeeper. Say, 50K. He does not have a bank account (!) due to paranoia. I stupidly gave him my SS# ***** order to get paid, and a third party, an almond grower, who owed the beekeeper a payment, has written a check TO ME, not to the beekeeper, for 60K, which is the loan plus interest. I am sure the grower will 1099 me. Is there any way I can report this simply: say, use a Schedule C and list the amount I loaned to the beekeeper under "Other Expense", then I would be only liable for the interest? I'm scrambling to wrap my head around this.The beekeeper says he will file a form 8300 when he eventually gets his taxes in order.JA: No. I'm the Accountant's Assistant. The Accountant will know how to help. Is there anything else important you think the Accountant should know?Customer: HI Pearl. No, but I do need to know how I pay for this service.

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

11,194 satisfied customers
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