Archive for December, 2009
Is there anyway that i can get Business Financing to Start my Business?
December 27th, 2009 | 
Author: I am 14 years old and looking to open my paintballing Business in northern Idaho next year. I have my business plan and Budget setup but the amount of money I need is a bit more than i have(i need about $22,000). Is there anyway i can get Financing or anything? oh and i have decided to have it as a LLC. if that helps or anything.
Wow, what a smart and industrious kid! You should be proud of yourself. I think you have a problem though. In most states, if not all, a contract is binding if there is a "meeting of the minds", and the parties are "adults", etc. Seeing you are a minor, I can’t believe a lending institution would give you a loan, as you’d have to sign a contract. To say nothing about your suppliers who want a guarantee of payment, customers who should sign an injury etc. waiver, insurance on assets and customers, and a banking institution, etc. Who’s land are you going to conduct this business on? Anyone would be a fool to sign a non-binding contract.
You deciding to be a LLC shows that you are smarter than average, but do you know what it REALLY means? If I was you, I’d keep working on your business plan… and STUDY! Look up "LLC" on an IRS web sight. Who’s going to do your books? Were you planning on paying taxes? Did you know that you would be responsible for a minimum of 15.3% of your profit in Social Security and Medicare taxes. That’s not counting Federal and State taxes. Will you have employees? Do you have a state and Federal I.D. number? Do you charge sales tax on your paint balls, etc. I’m not trying to discourage you in any way. You sound GREAT.
I think you show more business acumen than most adults that I have worked with for years, but I’m not sure you are quite ready. Where do your parents stand on this, and what’s their level of involvement?
In addition to picturing yourself as the business owner, picture yourself as the customer. What would you expect to receive in such an establishment? Is $22K enough give me a good experience? How do you handle depreciation? ARE YOU SURE you have thought EVERYTHING through?
Again, I’m quite impressed, and wish I could see your business plan. But… I imagine you’ve left out a few vital details.
Should you follow through with this, and I lived in Idaho, I would certainly put on my Cammie’s and play! What ever the case, I see great things in your future. Don’t give up. Study, study study!!! Best of luck to you, E.
By the way, I have NEVER met ANYONE that ever stuck to a "budget", regardless of how well written. They just aren’t realistic when they get down to the brass tacks.
How do we get insurance companies to reduce medical insurance premiums to employers?
Let’s face it, here in the U.S. the medical insurance premiums for group health coverage is rising faster than inflation. As a result, a lot of companies are either reducing the levels of coverage in order to offset the cost of insurance, increasing the deductible, and or increasing the cost to the employees for the insurance premiums.
The problem is that insurance companies have no incentive to reduce insurance premiums. They continue to get record profits and this issue is out of control.
How do we get the insurance companies to decrease insurance premiums to the rate of inflation, or better yet, start reducing the cost of premiums for a change?
insurance tips :
http://insurance6.cn
Selling home, making a profit – better to pay off credit card debt or put money into new home?
I have some credit debt left and I’m wondering if I should put the extra money I make from selling my home into the new house I’m purchasing or if I should go ahead and pay off the credit card debt. What is a smarter decision?
Just wanted to say I’m not late on my credit card bills, just wondering if I should go ahead and pay them off in full right away
Have you lived in it for at least 2 of the last 5 years? If so, there’s no capital gains tax from the IRS, and the money is yours to spend as you wish.
Glenn is correct – This all depends upon what you’ll do with these newly cleaned up credit cards….. It’s a falacy that people can get out of debt by placing all their credit card debt onto their house. They usually run up their cards again in a few years and are then worse off than before.
Put the money to the house. Start paying EXTRA to your credit cards. Start cutting up your credit cards. Then start sending extra to your house.
FREEDOM!!!!!!
Why does a Debt Management Plan ask if you have over 1000 in medical bills?
We are about to begin a debt management plan through CCCS. One of the first questions on the application is do you have over $1000 in medical bills. Why do they ask this? Will they help with these bills?
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Financing with Small Business Loans and Grants
Interviews with business owners about how the SBA can help finance your business.
Duration : 0:4:11
Posted in business financing | 
Tags: business, business finance, business grants, business loans, business.gov, financing, grants, loans, sba, small business | 
No Comments »
The Higher “On Fire” In Stores NowDealing with Credit Card Debt
A step by step video talking about the reality of credit card debt, and how the credit card companys are really charging you 83.3% interest.
Duration : 0:9:59
Debt Management Tips : How to Get Out of Credit Card Debt
Good ways to get out of credit card debt include not using cards and quickly paying down cards with smaller balances. Stay out of credit card debt by throwing away enticing low interest-rate offers received in the mail with advice from a certified public accountant and credit counselor in this free video on debt management.
Expert: Jerrie Guthrey
Bio: Jerrie Guthrey has been a certified public accountant and credit counselor since 1992.
Filmmaker: Jack Guthrey
Duration : 0:2:46
Posted in debt management |
Tags: bankruptcy, bureaus, card, consolidation, counseling, credit, debt, loans, money, report |
12 Comments »
Happy Holiday’s from Freedom Debt Management
The staff at freedom debt management wants to wish everyone a happy holiday season.
Duration : 0:3:26
Posted in freedom debt management |
Tags: brandle, brazier, budryk, christopher, claudia, darish, debt, ed, fiorenza, fishman, freedom, happy, hass, heather, holidays, hymond, jennifer, jurasinksi, lahsonda, lakendra, management, michael, monica, munoz, richard, staff, still, tahisha, tony, williams |
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