Key Takeaways:
- Investment Preparation: Before spending a lot of money on your business, make sure you can afford it and that it fits with your overall goals.
- Banker Readiness: If you want a loan, keep your financial records up to date and understand what banks look at—like how much profit you make and how much cash you have compared to debt.
- Tax Planning: Plan ahead for taxes so you’re not surprised when it’s time to pay.
- Use Financial Tools: Learn how to read and use your financial statements (like income statement, balance sheet, and cash flow statement) to make smart business choices.
- Know Your Financial Responsibilities: Be clear about where your money is kept and any legal rules or promises tied to it.
Chapters:
Timestamp Summary
1:58 Key Considerations for Business Investments and Bank Loans
5:48 Reforming Banking Systems for Better Business Growth
8:00 Considerations for Business Loans and Tax Deductible Interest
Powered by ReiffMartin CPA and Stone Hill Wealth Management
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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
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