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  1. White8

    I think I got screwed

    I've gone back to my original CPA who is very competent. At the time I was using my Mom's CPA as we were going through my Dad's estate and it was easier to use one CPA due to the complexity. I was also able to get Mom to switch to him too. I agree, and if push comes to shove, maybe the IRS...
  2. White8

    I think I got screwed

    I did have my CPA at the time review the financials and he didn't see anything that bothered him but thinking back, I don't think he spent much time with it. I did see the tax returns as did my CPA. There had been quite a bit of maneuvering to avoid taxes so it was difficult to match the...
  3. White8

    I think I got screwed

    Oh, she is definitely going. I've disliked her for some time and this is just the topping on the cake. I'm just waiting to see what the depth of her involvement is so if there is legal action, either civil or criminal she doesn't completely see it coming and run. It would also be helpful to...
  4. White8

    I think I got screwed

    The business I bought two and a half years ago has never lived up to the financials I received and had reviewed by my CPA at the time and the lender. A month ago I noticed an anomaly in Quickbooks and sent the current file as well as a file that "wasn't used" by the business broker to determine...
  5. White8

    Incentivizing Consumer Financing (without expense to me)

    I've found that I can finance customers through GE Financial with a six month no interest, no payments program but the discount rate is 3%. Currently the business is primarily a net 30+ business with a few paying early and most general contractors paying "when they get paid" which is stressful...
  6. White8

    Creative Pay Scale Question/Discussion

    Not on gross sales if your sales people determine the sales price... too much incentive to dump product to make sales. A percentage of gross profit seems to work pretty well and keeps the margin up.
  7. White8

    Thoughts on closing a business

    Sorry to hear that you are having a rough time. If Texas was closer to Oregon I'd be glad to trade you a money pit electrical contractor for it. I closed my previous business, a John Deere dealership several years ago and it was a learning experience. 1. If you have anything that is sold...
  8. White8

    Has Anyone Imported Home Appliances on Here?

    I would look into any certification issues related to the market you plan to sell them in. For example in the US you would need UL approval since it's electrical. There could also be voltage issues depending on the market. I would also take a close look at possible product liability.
  9. White8

    Quickbooks and CRM?

    I'm impressed with OpenERP and have a programmer working on integrating it with QB. OpenERP has also recently opened a US office in California and plan to offer full integration with QB in the next release or two.
  10. White8

    Knowledge is NOT power

    IDEA 
    From my flight instruction days: Rote is the Route to Prosaic Mediocrity - Jetwhine: Aviation Buzz and Bold Opinion Correlation is power.
  11. White8

    Anyone have a file/mail server in their office?

    First off don't run your file server on the same server you are running email or web as it's a security risk. I run three servers for a similar sized business, a web server running Apache, an email server running Zimbra, and a file server running Samba. All three are running Linux which is a...
  12. White8

    Looking for the best free advertising

    Set up an aquarium free of charge in the children's wing at your local hospital, just make sure that the local newspaper knows about it so they can write a good article about you and your company. These sorts of articles get a lot more mileage than typical advertising.
  13. White8

    How to handle warranty/support/returns department when starting?

    Re: How to handle warranty/support/returns department when starti Months of looking yielded only one solution for me: Warrantech Companies - Bedford, Tx. - (800)833-8801 They offer many levels of service and prices are remarkably reasonable. A whopping five bucks for a two year warranty on a...
  14. White8

    My back is against the wall and don't know where to turn

    Thanks everyone for your posts. Steve: As far as what's going right, to be entirely honest, I really don't have anything other than work in my life (something I learned all too well from my Dad who was quite successful) no wife/girlfriend, kids, hobbies to speak of. You're right, my brain...
  15. White8

    My back is against the wall and don't know where to turn

    I bought what I thought was a good business 18 months ago. Income to debt ratio was 3 to 1. Since the 2007/ early 2008 numbers I bought the business based on, the economy has gone to crap culminating in a $140k loss for 2009. If I didn't have the loan on the business the situation would be a...
  16. White8

    Naming a product

    I haven't yet. I've been bogged down lately waiting for the generators to arrive and have been working on specs for an LCD projector source switching project. We have been installing a product for local school districts and I've come up with a better solution.
  17. White8

    thinking of giving away equity, please comment.

    In house is not critical as long as you can keep track of what they are doing. Programmers also tend to be a different breed of workers who prefer to work between 10:00 pm and the early morning hours anyway. I've had good luck outsourcing projects overseas. What's pennies here is big money in...
  18. White8

    thinking of giving away equity, please comment.

    Good advice As far as giving away equity, I've been in a couple of partnerships and they never seem to work out quite evenly despite the best intentions under the best circumstances. I also spoke with someone who had given a measly 1% of his company to a top salesperson who proceeded to...
  19. White8

    Discuss a Properly Structured LLC or S-Corp

    Be sure to talk to a local accountant as far as the preferred structure for your state. The Oregon voters in their infinite wisdom passed a tax measure January 26th that will tax C-Corps based on sales rather than income.
  20. White8

    Is this Fastlane? How do I pull it off?

    Tread lightly and speak with the owner directly. If you speak with the customers you may inadvertently let them know something is happening with your employer that they don't already know about. It could also upset your employer and eliminate any chance you might have of working out a deal...

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