Record Low Interest Rate from IRS!

IRS has set all-time low interest rates for loans made in August, 2012. If you loan money — even to a family member — you don’t have to charge an interest rate higher than 0.25% (!) for a loan of three years or less. For a loan that runs nine years, the minimum interest rate would be 0.88%. Read more

Buying or Selling a Business isn’t like Buying or Selling a Candy Bar

KeysSome people think that buying a business is a cinch, as easy as buying a candy bar.  It’s not. You can’t say, “Here’s X dollars; give me your computer and the key to the office (or to the truck, or whatever); and go enjoy the rest of your life.”

It’s the same if you want to sell a business. You can’t say, “Pay me X dollars right now, I’ll hand you this key and the computer, and then I’m outta here.”

You want a clean purchase and sale, right? Without any bad after-effects. So figure on resolving a bunch of matters up front. Read more