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To: AbolishCSEU

Separate bank accounts for the business with no mingling. The company account only pays for company stuff. He pays himself a salary from the business.
He’ll have to pay for items up front and hope the customer pays the bill so you will need a hefty cushion to cover. If he isn’t good with financial matters, you will have to do it. There is a good chance he won’t make a lot of money in the first quarter as he builds some equity. None of this “I need a new truck and some new tools”. You’ll know you are ready to go into business for yourself when you have the money to do it.

Like with all things, the first question will be “How will you pay for it?”.


10 posted on 03/07/2016 6:11:14 AM PST by AppyPappy (If you really want to irritate someone, point out something obvious they are trying hard to ignore.)
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To: AppyPappy

I used to do rental real estate and know about no co-mingling. I have a separate credit union acct for my amazon kindle book.

He is definitely NOT good with financial matters or paperwork. That would be my dept. Thinking of putting the biz in my name to avoid any issues with the ex-shrew—basically making hubs my employee.


14 posted on 03/07/2016 6:15:52 AM PST by AbolishCSEU (Percentage of Income in CS is inversely proportionate to Mother's parenting of children)
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