Jason Hill, of Client Focused Advisors and the Shrimp Tank Podcast of Boca Raton, shares his expertise with the need for life insurance as collateral in an SBA loan, and how to find the right plan for you. While a lot of banks accept life insurance as collateral for SBA loans, getting the right…
2019 has been a great year for franchised businesses, by many indications. It’s so good, in fact, that now might be one of the best times in a long while for you to jump into owning your own franchise. With franchise profitability up year over year, franchise owners are happy with their decision…
Top Tips to Avoid Common Prohibited Transactions Always act in the 401(k) plan’s best interest. Don’t pay yourself an excessive salary. Your wages should be within market for your role. Don‘t use any business property for personal use. Don’t let your spouse or family use any…
Over the last few months, we have defined C Corporations and what entrepreneurs need to know about registering as a C Corporation. As our series on C Corps draws to a close, there are still a few odds and ends left to cover about this entity. How does a C Corp compare and contrast to other…
If coworking works for you, keep with it. But what happens when it’s not? When you start a business of your own, even before you look to acquire clients, your first focus will be on how to launch and run it while also keeping costs down. You take on as much of the work personally as you can,…
Contents: Resources for Transitioning from Active Duty to Business Ownership Health Insurance Education and Training Networking Opportunities Small Business Financing Options for Veterans Veteran-Specific Grants and Loans Additional Veteran Financing Options Resources for Veteran-Owned Small…
Top 5 Small Business Financing Problems and Solutions I don’t have cash for a down payment. Solution: Combine financing methods, such as using 401(k) Business Financing as the down payment for an SBA loan. I don’t know what my financing options are. Solution: Read and research, just like you…
Steps to Buy a Small Business: When you’ve found the business you want to buy, assess the business environment that it will be operating in. Understand what makes the business successful so that you can replicate that success. Perform due diligence with an accountant, lawyer, and other…
Key Takeaways: To file as a C Corporation, you’ll need a business name and a filled out Form 1120. Depending on your state, you’ll also need to pay a filing fee and publish a notice of intent. You can learn state requirements on your Secretary of State’s website. To form your C Corp,…
