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business finance

Finance: Plan for sale well in advance

Q. How, and when, should I plan for selling my business?

A. One of the benefits of owning your own business is the option of how you are established for tax purposes. As examples, you can be a partnership, sole proprietorship, LLC, Sub S, or Sub C.

Finance: Project your cash flow

Q. Q. Is there a connection between making a profit and having cash?

A. For a business to have a comfortable amount of cash on hand, the business cannot be experiencing a tremendous growth or a comparable downturn in business.