A dental practice sells for a variety of reasons: retirement, moving to another city, or even health issues. Regardless of the reason, it is essential to consider the tax ramifications of the sale. Depending on the type of assets sold, the seller may pay federal and state taxes of up to 40% of the gain. For example, most if not all of the equipment sold is likely to be taxed at the higher rates for individual and corporate owners. This is because most dental equipment is written off within the year of purchase or depreciates over a period of 5-7 years. Therefore, there is usually a minimum amount of base on the equipment at the time of sale.

If a corporation owns real estate, the gain is taxed at the higher corporate rate. If an individual owns the real estate and rents it to the corporation or other legal entity, the tax on prior depreciation is 25% and the gain in excess of depreciation is 20%. Goodwill, patient records, and accounts receivable are also assets that are typically included in the sale of a dental practice and will be taxed at a 20% rate. It goes without saying that the tax liability can be substantial as a result of a sell-off.

Example of direct sale of a practice and resulting tax liability:

Equipment: $120,000 profit X 40% tax rate = $48,000

Accounts receivable: $20,000 profit X 20% tax rate = $4,000

Records: $90,000 profit X 20% tax rate = $18,000

Real Estate $250,000 profit X 20% tax rate = $50,000

Goodwill $115,000 gain X 40% tax rate = $46,000

As you can see, the total tax liability of $166,000 on this hypothetical sale is staggering, but there is a way to defer these taxes until much later. It’s called a Section 1031 tax-free exchange.

Tax deferral through a tax-free exchange

Section 1031 of the Internal Revenue Code has been in existence since the early 20th century. If you buy a “like-kind” property within six months of the practice sale, your taxes will be deferred, as long as the various rules are followed. There are two time periods involved. The first, called the identification period, requires the selling dentist to identify one to three replacement properties within 45 days. The second period involves the actual purchase of the property. That must occur within 6 months of the sale of the practice.

Exchanges can be fully or partially tax free. If you have sold your practice and are buying another, you would qualify as a full trade if you are buying a more expensive practice. If it is less than the assets sold, it would result in a partial exchange and some taxes would be due. Another example of a partial exchange is one in which a practice including real estate is sold and the dentist subsequently purchases an apartment building for rental property. If the cost of construction were greater than the property sold, no taxes would be paid on that part. Taxes would be paid on the other assets sold.

Tax-free Section 1031 exchanges are a great way to defer or, in some cases, eliminate tax liability. It is very important to follow the rules to the letter. Therefore, it is advisable to seek the guidance of an experienced attorney and/or CPA prior to implementation.

Every small town used to have a “general store” where you could buy a wide selection of merchandise to meet almost all your needs. These days that general store is often at Wal-Mart.

The problem with a general store is that if you are interested in a particular product, you will only find a limited selection. They can’t afford to use their limited shelf space to offer a wide variety. It only makes sense that they fill that limited shelf space with the best-selling products. Those products are not necessarily the best, but they are probably the best marketed products.

Limited shelf space is a problem that online eCommerce stores don’t have. Virtual “shelf space” is only limited by storage space on a web server. An e-commerce store might have hundreds of models of a particular item, and storage space on a hard drive would be negligible. With same-day direct shipping from vendors, the store wouldn’t even have to stock every item, so no warehouse shelf space is required either.

Since virtual shelf space is so cheap and plentiful, that means an eCommerce business that caters to a specific niche is possible. Take the niche online e-commerce store IntercomsOnline.com as an example. They sell nothing but intercom systems, wireless intercoms, video intercoms, and even wireless baby monitors.

Opening a pure physical store to sell only intercom system products, even in the biggest city, would be a complete failure. While it would certainly generate some sales of intercoms and baby monitors, these sales would not cover all of the overhead that a physical store has.

That is where an online store differs. A website is incredibly cheap to build compared to an actual building. And unlike the building, the website is accessible to everyone!

These e-commerce stores are creating endless choice marketplaces where consumers can get exactly what they want. The bottlenecks of the old supply and demand model are disappearing and everything is within everyone’s reach. When shelf space costs nothing, you can cater to everyone.

The world is also much less dominated by any of the traditional media where people used to watch only a few television stations and listen to only a few radio stations. The old broadcasting and television delivered a program to millions of people. While it’s not happening yet, the Internet is capable of distributing millions of programs to a single person. But what is happening now is that more people are turning their attention from traditional media to websites on the Internet.

Therefore, large companies can no longer dominate all available advertising channels as they did in the past. Therefore, even a small niche eCommerce site can compete with the big players and win customers.

Consumers win because they have a greater selection of products. Ecommerce sites win because they profit from sales. Even big companies win because they produce the products that sell and don’t have to spend marketing dollars to get the sale.

There are millions of small mini-markets to serve and these markets have always existed. But now, with niche eCommerce sites on the Internet, it’s finally possible to give consumers exactly what they want.

For years, I stored my electric stand mixer in the back of a kitchen cabinet. To retrieve the mixer, I had to kneel on the floor, reach into a dark corner, and drag the mixer forward without hitting or damaging anything. Getting the mixer back was hard on my back and made me reluctant to use it. So I took the mixer out of the cabinet and put it on the counter.

I had a white mixer lid handy and put it on top of the mixer to keep the bowls clean. Now I don’t even use a cover. The mixer is by the stove, handy and ready to work. For small jobs, I use a hand mixer. It’s in the original box at the front of a cabinet, again where I can see it.

In many cultures, vacation time is baking time. Home cooks get together and bake coffee cakes, fruitcakes, breads, scones, and cookies. Minnesotans like me bake a variety of cookies and do cookie swaps. Each guest brings several dozen cookies to trade. After coffee and conversation, everyone has a plate of cookies to take home.

I love to bake and have made dozens of cookie recipes. But this recipe is one of the easiest. You just need a bowl, a wooden spoon, a measuring cup, and measuring spoons. No mixer. The dough comes together in minutes and chills for at least an hour before baking. Because everyone in my family loves chocolate chips, that’s what I use. Shredded coconut or dried cranberries can be substituted for chocolate chips.

These cookies freeze well (we love them so much we eat them straight out of the freezer), but they don’t ship well. Thin French fries are too fragile to send to a college student or friend. Also, family members will probably gobble up the cookies and there won’t be any left. Children will enjoy making these cookies. Of course, the best part of baking is tasting the cookies: fresh, fragrant, and hot from the oven.

INGREDIENTS

3/4 cup of regular flour previously sifted

1/2 teaspoon bicarbonate of soda

1/2 teaspoon salt

1/2 teaspoon ground cinnamon

1/4 teaspoon ground nutmeg

1 cup light brown sugar, packed

1 1/2 cups quick cooking oats (not steel cut or instant)

1 cup small chocolate chips

1 1/2 teaspoons pure vanilla extract

1/2 cup canola oil

1/4 cup of water

METHOD

1. Coat the baking sheet with cooking spray. Tear off a long strip of waxed paper and place it on the counter.

2. Using a wooden spoon, mix the flour, baking soda, salt, cinnamon, and nutmeg in a bowl.

3. Add remaining ingredients and combine well. Cool one hour.

4. Heat oven to 350 degrees.

5. Place teaspoon-sized dough on prepared baking sheet, leaving two inches between cookies.

6. Place pan on the middle rack of the oven and bake for 10 to 12 minutes.

7. Let cookies rest 30 seconds before removing from pan. Cool on waxed paper.

8. Store cookies in an airtight container. This recipe makes about 45 cookies.

Now that you’ve chosen a name for your new business, you’re ready to introduce it to the world. As part of your business startup checklist, you made the decision that you want to transition from being a sole proprietorship to an incorporated entity. However, he is not sure if he wants to form a Limited Liability Company or a Corporation.

This is one of the most important decisions you can make as a business owner that will position your company for success. Some things to consider when making this decision are:

tax benefit

Amount of paperwork you want to deal with annually

Personal responsibility

How do you want to raise capital?

Regardless of the type of corporate entity you choose, it is important to understand that the decision to form an established business entity has many benefits:

asset protection – The main advantage of forming a corporation or LLC is asset protection. Once you create a business entity for your business, your personal assets are separated from your business assets and you no longer mix them. What this means is that if there is ever any litigation and you find yourself in court being sued in most cases, your personal assets are protected, this includes your home, car and personal bank accounts.

name protection – Incorporating your business is a crucial step in branding. But name protection is also a benefit of incorporating a business. When your business is incorporated, the business name is protected at the state level.

Credibility – When presenting your business to prospective customers, suppliers, business partners and potential investors, it is important that they see you as credible. This is especially important when seeking financing for your business. Credibility is important when looking for business loans, grants, and other forms of financing. Establishing a legal business structure for your business will bring credibility to your company.

Fiscal benefits – Whether you choose to form a corporation or an LLC, you will be given tax benefits that you did not receive as a sole proprietor. However, it is important to consult with a tax professional to understand the tax implications of both types of business entities.

Forming an LLC

The simplest form of business entity is an LLC. An LLC gives you the protection of a corporation while giving you the tax transfer of a sole proprietorship or partnership of two or more people. In addition, an LLC can also choose to be taxed like a corporation.

An LLC is created by filing Articles of Organization or a Certificate of Formation with the Secretary of State in the state you choose to form and paying the appropriate fees.

An LLC is favorable in many scenarios because, while it provides protection, it is not as formal as a corporation in that there are no formal annual meeting requirements. Under this type of entity, the members who are the owners are required to create an operating agreement that outlines the management of the business.

Corporation: the formal business entity

A corporation differs from an LLC in that it is a more formal type of business entity. A corporation is created by filing Articles of Incorporation or a Certificate of Incorporation with the Secretary of State within the state in which you choose to form and paying the appropriate fees.

A corporation is governed by a board of directors that appoints the officers responsible for running the business. Corporate ownership is determined by the shareholders who own shares. Stock can be sold to increase the capital of the corporation.

A corporation is a more formal type of business structure due to its requirement to have an annual meeting that must be documented in the formal minutes. In addition, bylaws must be adopted and maintained. If the corporation does not meet its annual requirements, the corporate veil can be lifted, meaning the corporation risks losing its protection.

going forward

Now that the basic differences between forming a corporation or an LLC have been outlined, you can make an informed decision. Congratulations as you progress on your journey as a business owner.

tucker hill air plumbing electric open

Tucker Hill Air Plumbing and Electric is dedicated to providing exceptional service and being readily available to our valued customers in Scottsdale. We understand that plumbing, HVAC, and electrical issues can occur at any time, so we strive to have convenient operating hours to accommodate your needs. Our company is open Monday through Friday to ensure prompt service and timely assistance.

Tucker Hill Air, Plumbing and Electric – Scottsdale

From Monday to Friday, our team is available to assist you with all your HVAC, plumbing, and electrical needs. Our operating hours during these days are typically from 8:00 AM to 5:00 PM. During this time, you can contact us to schedule service appointments, request estimates, or seek assistance for any urgent issues you may be experiencing.

We believe in providing timely and efficient service, which is why we have structured our operating hours to align with the schedules of our customers. By offering service during regular business hours, we aim to make it convenient for both residential and commercial clients to access our expertise and solutions.

what days are tucker hill air plumbing electric open

While our regular operating hours are from Monday to Friday, we understand that emergencies can occur outside of these times. We also acknowledge that some customers may have scheduling constraints that make it difficult to avail our services during standard operating hours. To cater to such situations, we offer emergency services and flexible scheduling options.

If you encounter an urgent plumbing, HVAC, or electrical issue outside of our regular operating hours, we have an emergency response team available 24/7 to address your needs. Our emergency services ensure that you can reach us anytime, day or night, to mitigate potential damage, restore functionality, and provide you with the necessary support when you need it most.

Additionally, we offer flexible scheduling options to accommodate your specific requirements. If you are unable to schedule a service appointment during our regular operating hours, we will work with you to find a time that suits your schedule. We understand that everyone has different commitments and obligations, and we strive to be as accommodating as possible.

To find out more about our specific operating hours or to schedule an appointment, you can reach out to our friendly customer service team. They will provide you with the most up-to-date information regarding our availability and work with you to find a suitable time for your service needs.

At Tucker Hill Air Plumbing and Electric, we are committed to providing timely and reliable service to our customers in Scottsdale. Whether you need HVAC repairs, plumbing installations, or electrical upgrades, our team is ready to assist you during our regular operating hours from Monday to Friday. In case of emergencies or special scheduling requirements, we offer 24/7 emergency services and flexible scheduling options to ensure that we can address your needs promptly and efficiently.

Contact us today to schedule an appointment or to inquire about our operating hours. We look forward to serving you and exceeding your expectations with our top-quality services and customer care.

The US Small Business Administration has introduced different types of loans to provide financial assistance to start-ups to help them run their businesses successfully. This United States government agency offers these loans to start-up business owners who are not eligible to obtain money from banks or other traditional financial organizations. In fact, these funds are designed with the objective of supporting the growth and development of these companies and improving the economic situation of the United States. Here are some essential facts to know about the loan options offered by the Small Business Administration.

No loan provision directly from the SBA

The SBA does not offer these funds directly to people who want to borrow money for different purposes. In fact, the organization works in collaboration with multiple lenders, community development companies, and microcredit agencies to provide the money. In addition, it assumes the responsibility of determining the terms and regulating these loans.

No credit check

Unlike traditional loan companies, the SBA does not check credit records before offering money. It means you can get money with a bad credit history like insolvency, bankruptcy, etc.

Multiple loan programs

Loans offered by the SBA fall into different categories such as 504, Express, Patriot, and 7(a). These funds are offered to companies based on their needs and preferences. However, it is important to remember that banks or other private organizations may not provide these funds. Loan programs can vary and requirements are set based on the individual terms or policies offered by banks.

A boon for start-ups

Small businesses are more in need of these funds than popular ones. The reason is that these companies have started their journey and do not have enough money to make a good investment. Therefore, it would be difficult for them to get the loans at high interest rates. Unlike traditional loan companies, the SBA offers them at low interest rates, allowing borrowers to repay money quickly.

Presentation of the necessary documents

To secure the funds, you must submit the necessary documents to the SBA, as well as to the lending companies offering the loan. In addition to these essential documents, you must also complete other important paperwork such as filing financial statements, business plans, financial statements, tax return related documents, and other important information associated with acquiring loans.

act as guarantor

Banks and other private financial organizations do not offer funds to borrowers who do not have property that can be used as collateral. For these borrowers, the SBA acts as a guarantor. The guarantee offered by the SBA gives these banks the assurance that these funds will be financed quickly.

Quick acquisition of loans

Getting small business funding from the Small Business Administration is a quick process. They are like ready-to-use money that can be secured once you request them.

For many people, the popular eBay auction website has become a source of bargains, as well as a steady stream of income from auctions. Can it work to find bargain deals for your Jack Bosch Land Profit Generator vacant lot investing strategies? This review will show you how.

First, let’s take a look at the different ways you can use eBay to buy land for pennies on the dollar and quickly sell it for a profit.

Since eBay is a high-traffic place of commerce, it is an excellent source and starting point for your market research. You can use eBay to find out what areas, sizes, and types of vacant land are being sold. Search active listings as well as closed auctions.

You will soon notice a pattern. Some areas may have some auctions, but few of them close successfully. Others have high activity with many bidders and a strong track record of successful offers that raised the price and turned out great for the seller. These are the areas you may want to focus your own land investment strategies on.

Don’t limit yourself to your local area! Land Profit Generator strategies make it very easy and efficient to buy and sell vacant land outside of your local area, without even seeing the actual property. This frees up your time to do what you want to do instead of running around all day looking at the dirt.

Once you know the hot areas from your eBay market research, you can use the auction site to locate bargains in that area that may have been overlooked. Follow active auctions and make last-minute bids on auctions for land that is not up for bids. Be aware of the differences in how successful auctions are presented and why those that are overlooked don’t work.

Second, after watching and following some of the land auctions you find, you’ll know from your experience and the market research you’ve done before how to position your own land deals to become successful auctions on eBay. Use this three-pronged strategy from eBay to get the most out of your virtual land investment.

Considerations for an IT Intrapreneur in Building a Business

Unlike entrepreneurs who secure investments and start their own businesses, intrapreneurs get their ideas through their employers. The primary motive of intrapreneurs is to bolster their company’s profits by making changes for the better. They are essentially like the corporate version of entrepreneurs, but they have some of the same advantages as regular employees, such as a steady paycheck and benefits including health insurance and 401K matches.

IT intrapreneur are often a company’s best hope of staying competitive in a changing business landscape. Some companies have intrapreneurship programs that encourage staff members to act more like entrepreneurs. They may even offer funding, which can be helpful for the intrapreneur in his effort to develop a new product. It is important for an intrapreneur to be able to communicate clearly and present his vision to management to gain approval and funding.

Entrepreneurship can be very rewarding, but it also carries its fair share of risks, from the possibility of failing to the loss of financial support. For many entrepreneurs, it is a lifestyle choice and they must be prepared to make sacrifices for their business, which means sacrificing time with family and friends as well as the ability to take vacations. Being an intrapreneur is less risky, but it is still a risk as it requires the support of management and colleagues.

What Are the Considerations for an IT Intrapreneur in Building a Business

While the main objective of an intrapreneur is to create change for a company, he also needs to be a good team player. Having the right relationships can help him garner support from other departments and managers, which can give him more leeway with his projects. Having the ability to work through obstacles and remain positive when things go wrong will make an intrapreneur successful.

Companies need to encourage intrapreneurship because it is the most effective way for them to stay competitive in a changing business environment. They need their intrapreneurs to develop innovative products and create new business opportunities for the company. Employee retention is also improved when a company encourages intrapreneurship and rewards employees who have creative ideas and implement them successfully.

For an IT intrapreneur, working through challenges and learning from failure is a big part of the job. They need to be able to adapt and find the best way to move forward when something goes wrong, but they also need to know when it is time to stop trying. It is important for an IT intrapreneur to be able to work with other people and learn from the mistakes of others. They need to be able to listen and offer advice to their colleagues, as well as help them reach their goals. This helps the company stay current with technological advancements and maintain a competitive advantage in its industry. A large enterprise that does not tap into its intrapreneurship can lose out on the latest innovations from smaller competitors. A good example is Google, which has a strong startup culture in place to allow their employees to innovate and grow their careers within the company.

A divorce decree is a judgment that summarizes the rights and responsibilities of the divorced parties. It is the final decree of divorce. The divorce decree is a document that establishes the basic information about the divorce, the case number, the names of the parties, the date of the divorce, and the terms that the parties have agreed to or the court’s decision. The divorce decree is usually only a few pages long.

The divorce decree is the final step in the divorce process. Although there may have been several documents generated during the process, the divorce decree is the most important. Give the relevant details of the agreement between the parties. The divorce decree outlines the financial responsibilities of each party. The division of the assets of the parties in the divorce is dictated. The divorce decree will name those responsible for the debts incurred by the couple during the marriage.

He will often give details about decisions regarding child support, custody, and visitation. The divorce decree will state which parent receives custody and what the noncustodial parent’s visitation rights are. Sometimes a couple will use a separate state social services agency to handle the collection and disbursement of child support. If this had already been established during the separation and before the divorce, the divorce decree may mention the existence of this arrangement.

Usually, a divorce decree is not issued until all the terms of the divorce have been resolved. Occasionally, the divorce decree conflicts with government action, such as the collection of taxes by the Internal Revenue Service in the United States. The IRS reserves the right to collect back taxes from one spouse, even if a divorce decree states that the tax bill is the responsibility of the other spouse. In that and other similar situations, the aggrieved spouse has the option of returning to divorce court to recover the lost funds. They may also have the ability to take your ex-spouse to court to try to get the money back.

Once a divorce decree is filed and issued, the divorcing parties are free to remarry. Some states have laws that require a waiting period after the divorce decree before the parties can remarry. The divorce decree is legally binding. If either party to the divorce fails to meet their obligations set forth in the divorce decree, the other party has the right to take legal action to rectify the situation. The aggrieved party may take the other party back to divorce court or small claims court.

$10,000 Bad Credit Loan: It Can Be Done!

During the financial crisis that the nation has been experiencing for several years, more and more people have found themselves unable to pay their bills. Mortgage payments, because payments and, for business owners, payroll have become increasingly difficult to pay. As a result, many people have turned to short-term loans, revolving lines of credit, and consolidation loans to help them financially. However, for those with bad credit, getting a loan may seem impossible. Fortunately, however, even someone with bad credit can receive a $10,000 loan by following a few simple rules and familiarizing yourself with all possible options to decide the best move.

What to do when in need of a large loan

Today, it is not surprising that many people, especially business owners, need large loan amounts of $10,000 or even more. Although this is understandable, if you are one of these many people, it is important that you take a step back and think carefully about why exactly you need a loan of this amount and how you plan to pay it back. If you spend significantly more per year than you earn, or if you’re currently unemployed, it’s probably a good idea not to borrow more money to avoid sinking deeper into debt. Ideally, the only type of person who should get a very large loan is someone in transition. If you were recently offered a job but won’t start your new job for a few months, you may need a large loan to keep up with your expenses until you start working. Otherwise, those considering a loan of $10,000 or more should probably focus on managing their debt rather than creating more.

With that in mind, even once you’ve decided that getting a large loan is in your best interest, it’s highly recommended that you eliminate some of your larger expenses and payments. For example, it might be smart to post your car lease online so someone else can take over. A lavish lifestyle and accumulating debt don’t go hand in hand, so make sure you get rid of excess. Once you have decided on the loan and feel confident that you will be able to pay it back, the following potential options are open to you:

signature loans

Signature loans are exactly what they sound like: loans guaranteed by a signature. Designed for those with excellent credit, getting an exclusive loan will typically require a steady job and a relatively high credit score. Also, they tend to have high interest rates of 11% or more. For those with bad credit, a signature loan is probably not your best option.

auto loans

If you have a car that has been paid off, an auto loan may be your best option if you don’t have exceptional credit. As long as your car is currently reserved for more than $10,000, it is quite possible to use your car as collateral for the $10,000 loan.

Home Equity/Mortgage Loans

If your home currently has equity or has been paid off in full, it will probably be fairly easy to secure an equity loan or mortgage on the money. If you have bad credit, it would be a good idea to save a good down payment, and eventually it’s important to refinance as soon as possible to avoid spending massive amounts of excessive interest rates.

private loans

If the loan types above don’t seem like smart options for you, you may want to consider private loans. While private loans aren’t the easiest to obtain, you can start by turning to family members, who will likely lend to you even if you have poor credit. Although this may sound embarrassing, it will be worth it in the end. As long as you take responsibility for getting rid of other excess spending and are proactive about getting back on track financially, family members will see that you’re serious about paying back.

Personal loans

Often when people refer to personal loans, they mean exclusive loans. As mentioned, it is difficult to guarantee these loans with bad credit because the banks consider it high risk. To get a bad credit personal loan, you’ll need to find a co-signer who can use your credit to help you secure the loan. The best people to ask to sign with you are family, friends, and spouses.