By Marc J. Lane
This invaluable booklet is helping monetary advisors tackle the desires in their entrepreneurial consumers. most folk commencing their very own companies are specialists of their fields. but if it involves the important intricacies of working a winning company, many marketers locate themselves suffering to survive.With progressively more humans beginning their very own small companies, a growing to be desire has built for specialist suggestions to aid ultra-modern marketers face their new criminal, tax, and monetary demanding situations. Advising marketers is helping monetary advisors handle the specified wishes in their entrepreneurial consumers. It presents a finished method of becoming wealth, protective enterprise resources from liabilities, reducing taxes, and lots more and plenty extra via selling prudent risk-taking.Marc Lane (Chicago, IL) is a company and tax lawyer. he's a grasp Registered monetary Planner, Registered monetary advisor, and authorized funding professional. He has authored thirty books, is an accessory Professor of industrial on the collage of Illinois collage of commercial Administration's Institute for Entrepreneurial experiences, and an accessory Professor of legislation at Northwestern collage.
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Additional resources for Advising Entrepreneurs: Dynamic Strategies for Financial Growth (The J.K. Lasser Pro Series)
These expenses are notorious for getting business owners into more trouble than they bargained for: Although corporations usually shield their owners from liabilities, officers of business corporations, as “responsible persons,” can be saddled with certain IRS debts owed by the business. Businesses are collection agencies for the government, whether for payroll taxes withheld from employees’ pay or sales taxes collected from 3693 P-03 5/10/2001 2:39 PM Page 45 USING THE TOOLS OF THE ACCOUNTANT 45 consumers.
The result is the number of years it is expected to take for the company to recoup its investment. Although a payback approach offers the beauty of simplicity, that is ultimately its major drawback. Since the payback technique completely ignores the time value of money, it is only helpful to the entrepreneur if the investment will likely be recovered in short order, and the entrepreneur will have intuitively known that to be the case, anyway. Accounting Rate of Return.
Forecasting Models A forecast of sales and revenues is a supportable estimate of future demand for a business’s products or services. It is the result of a careful and deliberate process involving one or more models. Forecasting models may be judgmental, time series, or causal. Judgmental Forecasting Model Employing a judgmental model, the entrepreneur forecasts sales based on expert opinion using historical analysis, market research, or the Delphi method—the use of a panel of experts to obtain a consensus of opinion about a new product or service for which no reliable data exist.