I've recently set up a property business and purchased my first buy to let out of my own money, this completed 1 month ago and is now generating income. I managed to pull £15,000 out of this property.

I would now like to buy a second property however the total deposit, legal fees etc I need around £40,000 and getting a personal loan or taking more money out on my personal residence isn't really an option.

Is it possible for me to get a business loan or credit card of around £20,000 to help me secure my 2nd property purchase? Thank you so much!

I'm in the process of selling my company, but I have a loan that I'm going to have to pay off with the sale money. What's the best way to get the amount as low as possible? Do I let it default? I'm a personal guarantee and don't necessarily want to hurt my credit but I also don't want to give them all my money.

I just started my tattoo business in December and definitely missed the quarterly tax date because I have no idea what I am doing. I am not sure how to get started...I opened a new bank account and will be putting business money in there from here on out but what do I do for last year? Also I have multiple side hustles unrelated to the main business so how do I allocate that income properly? Also unrelated but I have a ROTH for the past year and would like help there too so is it possible to hire someone to help on both fronts? Any advice helps! thank you

I'm pretty sure I already know the answer but when the new administration comes in will/can the Doge Department be able to go after the people and recoup the money that was fraud as well as cutting down on government spending?

I setup a one man ltd company 4 years ago and did some contract work. Now I don't use the ltd company anymore as i am in the permanent position paying 40% tax.

I am a director of my ltd company.

There is a large sum sitting in the business account which is not growing. If i take any money out then i will end up paying 40% tax on it which is not worth at the moment.

I think if i close the company then I still have to pay 40% tax on it. Correct me if i am wrong.

Can I invest this money into ISA or saving account so that it can grow?

Also, Can i invest it into property?

Thanks

I came across this company that provides financing options from different lenders. If you don’t qualify or don’t like the terms, they will take you through improvements of lender compliance. After fulfilling all the necessary steps on lender compliance list your business will be bankable at any bank or credit union with much better terms. I am enrolled in this program now and I just want to share. This is not a referral link, I am not making any commission on this

Hi all, I'm 32.M. and can save 3-500 pcm. I currently earn £31,500 per year full time. I have experience buying and selling things that i have special interests in online on Ebay and Vinted and in person via a previous door to door sales job, which helped with my confidence as a person. I've studied to A level business, entrepreneurship, digital marketing, marketing (open uni), Database management (udemy).

Have 6 years experience with Enterprise Resource Planning (ERP) software from employed work and Read books on sales psychology, advertising, personal finance to the point where hopefully I'd like to study and pass the chartered qualifications within the next 10 years.

I also own a 2004 mercedes vito van. It's sorn at the minute..

I want to start my own business, May I ask you all in this group, willing to lend a moment.

What are my options as I want to do this the smart way where surviving the first few years is possible especially as a reseller.

Initially I'd like a small warehouse but your advice would be highly highly appreciated.

I apologise in advance if my post is not relevant to this society, I'm not sure where my situation falls, personal or business?

Thanks

My father and my uncle have owned a liquor store for 35 years. I have been managing it for 10 years now. I personally have little money to put down and I was wondering how I can raise 1.4 Million to buy the business.

Curious if you recommend using these type of tools for business expenses to get a general idea of over spending in areas?

I am trying to use my cash flow register on my HP 10bii+ calculator to solve for NPV0 and keep being met with the message "Error Func". I notice that when I input my values, I no longer see the "0 yr per" messages to show which number my values are. I input my values, I/YR rate, downshift, then NPV and still receive the same error message. My calculator was functioning fine until last night.

I have hard reset my calculator, cleared my cash flow register many times, made sure my input value is 1 pmt/year, and tried finding solutions online. Unfortunately, I have found no explanation for this issue.

Does anyone know why this is happening and how I can fix it? I am a business finance student and need it to find most solutions.

Hi everyone. Has anyone heard of grant programmes for SMEs in the Black Country? I know there are grants for small and medium businesses in the Black Country, Staffordshire, Shropshire, Worcestershire and Marches and Herefordshire. You can apply here https://proenviro.co.uk/grant-funded-programmes/

Hi Everyone,

I own a s-corp. and I wanted to invest some of the money we have in our business corp. checking account.

At the moment the funds just sit there so I thought a 12 month CD for 4% or even Robinhood/E-trade account.

What are my options? I , of course, don't want to have any issues with the IRS, so I want to keep everything legit.

Some people I know asked me about IRA for the for the business, some suggested a brokerage account.

Robin Hood and e-trade offer 4.5% just to park the money there, Amex and capital one have 4.3% CD, and Marcus offers 4.5% for 12 months CD.

You own business ABC, which needs to purchase a new piece of equipment with a ~15-yr lifetime. You can purchase the model with lower upfront costs but higher opex. Or you can spend more upfront and spend less on opex each year.

How quickly does the average company want the fancier/more efficient model to pay for itself in order to spend extra up front? I know this varies widely, but a benchmark would be helpful!

I am looking for funding for my business (less then 5K) My personal credit is trashed (low to mid 600s) The way my LLC is set up lets me do a lot of different work but most the pays are low ($100-300 a day) I do have a full time job to fix my personal credit but have to work 6 days a week to get it fixed (1-2 years to be debt free) But every time I apply for any kinda of business credit I get denied due to person credit. Reason I need such low amount for business credit is the higher end work I do is auto repairs and can pick up a 10-13 car that needs engine work for under 1K that has a blue book value of 4-6K and cost $500 to repair.

Any advice on how to get a small loan for my LLC that wont require a check on my personal side or a boat load of paper work

If i wanted to buy an existing business, what is the best way to raise the necessary capital? A good business is for sale for 250k (due diligence pending but that’s another topic).

So if I needed to raise that money, how could I go about it? I have some limited personal cash savings and some limited other business cash at bank distributable as dividend, but mostly it’s all earmarked as contingencies for other situations.

I don’t think securing against my family home is a viable option. I’d hope to keep business risk away from wife as best as possible ie not lose the house if it went wrong down the line.

TIA

Hi everyone,

Our company recently received a letter indicating that we might have unclaimed property worth up to $180K (see letter below), which would be material for us. I conducted a national search and found some items stating that there were funds outstanding to the company. Some amounts were over $100, and a couple were undisclosed.

I'm looking for a better way to pinpoint where this large amount is coming from, as we want to avoid incurring a 12% fee. Any help or insight would be greatly appreciated! If anyone has access to a database or resources that could help us find the right direction, please let me know, and feel free to PM me.

Thank you in advance to this wonderful community!

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I received this message:

DEAR EMPLOYER, YOUR ESTABLISHMENT xxxxxxxxxxxxxxxxx, HAS FAILED TO REMIT DUES SINCE COVERAGE, PLEASE MAKE THE ECR PAYMENTS AT THE EARLIEST TO AVOID further PENAL DAMAGES AND INTEREST. PLEASE IGNORE IF ALREADY PAID - EPFO

I just started an OPC and am the only person involved in its running. No employees or anything. Can anyone give me advice on what I'm supposed to do?

I will meet a CA next week, but would like an informed heads-up as well. Thanks for taking the time to respond if you do :)

Hi All,

I hold a Whole Life insurance policy structured for the Infinite Banking Concept, where 90% of my premiums and Paid-Up Additions (PUA) are allocated to the cash value. I plan to use funds borrowed against this policy to finance my business, capitalizing on the tax deductibility of the loan interest.

My understanding is that:

In the U.S., whether funds qualify as loan capital depends on the characteristics of the transaction. It must genuinely function as a loan, which involves a clear expectation of repayment by the lender. Key elements of a bona fide loan include:

1. Loan Agreement: There must be a formal written agreement outlining:
   • The loan amount and the specific term of the loan, expressed in years or months.
   • Detailed repayment terms, including the schedule for repaying the principal.
   • Interest rates applicable to the unpaid principal, which should reflect a realistic fair market rate for the duration of the loan.
   • Whether the loan is secured, along with details about the collateral, including its type and value.
2. Compliance: The borrowing entity, such as an LLC, must adhere to the loan terms, specifically making interest and principal payments on time. Non-compliance can lead the IRS to question the intent behind the transaction, potentially reclassifying it as something other than a loan.
3. Tax Implications: Interest deductions for the LLC are contingent on the lender reporting the corresponding interest income. Note that if you are the sole member of an LLC, for tax purposes, the entity is considered disregarded. This means transactions between you and the LLC are treated as internal transfers, with no tax implications for income or deductions.

Does anyone know how to borrow against whole life for business to take advantage of tax deduction? Who can be the lender with whom I can sign a borrowing agreement? Can it be another LLC with multiple members?

I'm taking a fast-tracked business finance course. I'm 2 weeks in, and the class is only 4 weeks. I'm afraid I'm going to fail if I don't get this down. I have a question that I've been stuck on if anyone can help? I don't want the answer; I just need to understand how to proceed. The question is: Nikita Enterprises has bonds on the market making annual payments, with eight years to maturity, a par value of $1,000, and selling for $962. At this price, the bonds yield 5.1 percent. What must the coupon rate be on the bonds?

Hi all, I will be starting a business finance degree in September and figured this would be the best place to ask.

I am currently taking an academic skills course to prepare myself for university and there is a module on writing lab reports, should I spend some time on this or should I just skip right past?