Small Business

You can get a free copy of the IRS Small Business TXA Guide'S via the internet from the IRS at http://www.irs.gov/businesses/small/article/0,,id=99083,00.html and click on the desired guide.

If you are filing a form without a payment, mail Form 941 to IRS Cincinnati OH 45999-0005. If you are filing a form with a payment, mail Form 941 to IRS P.O. Box 804522 Cincinnati OH 45280-4522

If you are filing a form without a payment, mail Form 941 to IRS Ogden, UT 84201-0005. If you are filing a form with a payment, mail Form 941 to IRS P.O. Box 105083 Atlanta GA 30348-5083

Your customers or target market is the group of people at which you aim all your marketing efforts. People with common characteristics set them apart as a group. The more statistics you have about a target market, the more precise marketing strategy you can develop.

A board of directors should be comprised of people who are interested in the development and the success of the business as well as community minded individuals. The board of directors shall constitute the selected governing body of the corporation. The initial board shall be appointed and afterwards elected by other members of the board. All operational and managerial authority regarding the corporation shall reside with the board of directors. Generally, the board of directors includes a president who acts as the CEO, vice president, secretary and treasurer.

Forecasting is a projection of the anticipated financial performance of a company. Forecasts typically include a projected income statement,a pro-forma balance sheet and a cash flow statement. In order to arrive at projected figures, extensive research should be done to including statistical information on the competition, product trends and client demographics. This information will help you obtain reasonable estimated sales amounts. You should also get quotes from suppliers and realtors to obtain estimated expense amounts. Projections are not a picture of what you would like to see happen to your company, but carefully calculated, realistic numbers. Speak to your local CPA to assist you in this process

Generally, it is not the type of business that matters, but the credit worthiness of the guarantors, the financial performance of the business and the collateral pledged. The real issue is that often service based businesses have very few hard assets such as inventory, equipment or accounts receivable to pledge as collateral, but banks and the Small Business administration require some form of collateral. Business owners often pledge personal assets to obtain a loan.

Your personal credit history is considered for a business loan because it gives the lender or bank a history of your personal money management, demonstrates repayment of debts and it lets the lender know of existing debts including delinquencies, bankruptcies, references, liens, student loans, etc. It is also important because if your business is a sole proprietorship or individual, there in no difference in credit history for loan purposes. Generally, if you business is a corporation, LLC, partnership, trade company, etc., then the bank or lender looks at the business history.

Your personal credit history is considered for a business loan because it gives the lender or bank a history of your personal money management, demonstrates repayment of debts and it lets the lender know of existing debts including delinquencies, bankruptcies, references, liens, student loans, etc. It is also important because if your business is a sole proprietorship or individual, there in no difference in credit history for loan purposes. Generally, if you business is a corporation, LLC, partnership, trade company, etc., then the bank or lender looks at the business history.