http://www.quiltingbusiness.com/buy-an-existing-quilt-shop-business/ How to Start a Quilting Business Tue, 06 Jan 2009 05:45:56 +0000 http://wordpress.org/?v=2.7 hourly 1 http://www.quiltingbusiness.com/buy-an-existing-quilt-shop-business/comment-page-1/#comment-157 MJ McCaghren Thu, 06 Dec 2007 01:56:40 +0000 http://quiltingbusiness.com/buy-an-existing-quilt-shop-business/#comment-157 As an accountant, you should talk to your accountant about tax issues. Having a three way discussion between the accoutant, you and the attorney can make sure you get the right business structure, insulation from liability, and the best tax benefits when paying uncle sam. They can also review the previous owners financial statements and help interpret them if you are a novice at reading financials. The balance sheet and income statement are usually pretty standard, but see if you can get a hold of the cash flow statement as well. The cash flow will truly show you where the money is going and help you plan. MJ As an accountant, you should talk to your accountant about tax issues. Having a three way discussion between the accoutant, you and the attorney can make sure you get the right business structure, insulation from liability, and the best tax benefits when paying uncle sam. They can also review the previous owners financial statements and help interpret them if you are a novice at reading financials. The balance sheet and income statement are usually pretty standard, but see if you can get a hold of the cash flow statement as well. The cash flow will truly show you where the money is going and help you plan. MJ

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