Posts tagged selling

What are CA taxes on selling a small business to just pay off business debt?

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Question : What are CA taxes on selling a small business to just pay off business debt?
We own a auto repair shop in CA and just want out for what we owe on it (40K). If we sold it to one of our employess for the incrued debt, would we still have to pay taxes eventhough we wouldn’t be walking away with any profit? We do not own the property-just the goods. Thanks for any advise :)
business debt

Best answer:

Answer by Spock (rhp)
you’ll need to calculate the cost of the goods that’ll be purchased, plus any cost you incurred in starting the business, and the remaining tax value of any capital assets included in the sale.

the difference between what you get for it [relief from the debt] and the cost is taxable income.

can’t imagine it’ll be very much, possibly even negative [which is a deductible capital loss up to $ 3,000 per year].

How can i make money selling checking and savings accounts?

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Question : How can i make money selling checking and savings accounts?
Does anyone know how i could make money independently promoting banking products like checking accounts, savings accounts, IRA’s and CD’s. I’m just looking to offer banking products to my current clients even in an exchange for a referral fee. Any personal bankers outthere willing to work together?
savings accounts

Best answer:

Answer by MVD34
In general, checking and savings accounts are loss leaders for banks. No money in that game.

If you are licensed as a broker/dealer, many CD products have a commissions structure — although the internet and fee-only advisers are slowing killing that business too.

Is selling mortgage protection insurance a good job?

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Question : Is selling mortgage protection insurance a good job?
I have been offered a job selling mortgage protection insurance. All sales leads are pre-generated and there is no “cold calling.”
Of course, like any sales job, the company has assured me that I can earn a six-figure income within the first year; but I don’t know what to believe.
Anybody know anything about this industry?
Is this a waste of time?
insurance sales leads

Best answer:

Answer by Judy
So what will you be selling?
Insurance in case someone dies they home will still be paid off?
You could make a nice living on that.
Just be careful with the smart people.
They know that term life insurance is the better option.
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Selling home, making a profit – better to pay off credit card debt or put money into new home?

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Question : Selling home, making a profit – better to pay off credit card debt or put money into new home?
I have some credit debt left and I’m wondering if I should put the extra money I make from selling my home into the new house I’m purchasing or if I should go ahead and pay off the credit card debt. What is a smarter decision?
Just wanted to say I’m not late on my credit card bills, just wondering if I should go ahead and pay them off in full right away
pay off credit card debt

Best answer:

Answer by Bogart
Pay off the credit card debt– the house isn’t going anywhere, so there will be plenty of time to work on that. The credit card debt will just linger like a bad wound. Get rid of it– you’ll feel great!

My friend is a dealer in selling cars and he borrowed money from a financial institution?

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Question : My friend is a dealer in selling cars and he borrowed money from a financial institution?
My friend is a dealer in selling cars and he borrowed money from a financial institution to purchase more cars to sell for the festive season. The fuel cost has gone up in the festive season and many of them are reluctant to buy cars. He suffered huge loss and he is unable to pay his debt now. Is there any way to get relief from his debt?
financial debt relief

Best answer:

Answer by Ewan
It is really unpredictable about the fuel price because of market fluctuations. Your friend can talk about this matter to a debt counselor who can give valuable advice to get relief from his debt.

What’s a good mobile credit card processing service for bands selling merchandise on tour?

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Question : What’s a good mobile credit card processing service for bands selling merchandise on tour?
I want to be able to accept credit cards at the merch table, but there are so many options that I don’t know what would be suitable. I’ll only need the service for 3.5 weeks, so something with a long contract won’t work for me. Would I even be eligible for a merchant account, do I need one? I’ll have a laptop and iPod Touch with me, and am willing to spend up to $ 100 on extra equipment (such as a card reader), if that helps.
Any advice is welcome! Thank you!
Abe: We do several hundred dollars a day in sales when we’re on tour, so I’d imagine there would be SOME profit in the percentage the CC company would charge.
credit card processing equipment

Best answer:

Answer by Abe
Most companies won’t want to bother with it since there is almost no profit on an account like that.

the dealer for selling the second hand Cummins marine engine in marine insurance at Florida USA?

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Question : the dealer for selling the second hand Cummins marine engine in marine insurance at Florida USA?
I would like to buy an large amount of the Cummins marine engines with the characteristics following:
-greater than 400HP
-six number gear box
-second hand.
I heard that there are many kind of those Cummins marine engines in Florida after the storm have just happenned.
marine insurance

Best answer:

Answer by eviot44
look for dealers around jax miami and tampa aereas they some big dealers..

in the middle of dealing with probate in florida , selling my house today and being told i have to wait?

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Question : in the middle of dealing with probate in florida , selling my house today and being told i have to wait?
after 8 months after my father passed away ( i’m 22 , i’ll be 23 this friday) , i’m still dealing with a slow lawyer on probate. he left me everything , there was no will , but by law everything was given to me , anyways. the house is free and clear of everything , its being closed today on a cash offer deal , but now after knowning this for a month my lawyer is telling me i have to wait 2 more weeks to close the deal on the estate , when i was told a month ago , that since the house is free and clear of any taxes , loans , or morgage i could sell the house once it was legaly in my name.. and it has been for 8 months now…
so my questions is …CAN I CLOSE THE DEAL ON MY HOUSE TODAY AND JUST DEAL WITH THE REST OF THE PROBATE , BECUASE THE HOUSE IS FREE AND CLEAR I DON’T UNDERSTAND WHY I HAVE TO WAIT?
florida probate lawyer

Best answer:

Answer by src50
You have a lawyer – ask and take his/her advice. Would you rather take “legal advice” from Yahoo Answers?

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