From the monthly archives: June 2007

We are pleased to present below all posts archived in 'June 2007'. If you still can't find what you are looking for, try using the search box.

Most Small Business Acquistions are Asset Sales

Do you buy the stock of the company or the assets? This is a very important decision. If a business is set up as a corporation, the owner may want to sell you the shares of the business. This is called a stock sale. Sellers like this type of deal because their profits get taxed at capital gains rates instead of income tax rates which is often higher. An asset sale on the other hand is a sale in which you buy the underlying assets of the business. For example if you are buying a restaurant you would buy all the equipment, assume the lease on the property, the business name, recipes, or purchase the building if that is an option. So what’s the big difference to you - the buyer? Buying stock not only transfers the assets, but it also transfers the liabilities. If someone slipped and fell two days before you buy the stock you would still be on the hook for the liability. Another benefit of an asset sale is you get to depreciate all the assets by class. This can be tax-advantageous. If you do a stock pur ...

Read the rest of entry »

Houston is the Ultimate Dynamist City - Open for Business

Houston is Booming -- It's Not Only the Weather That's Hot Down Here. And it is "blooming" as well. As a further testament to the greatness of Houston and its buccaneering nature, read this Chronicle Op-Ed article by Tory Gattis. Viewpoints, Outlook Section Houston Chronicle June 10, 2007 BLOOMTOWN HOUSTON Ours is an opportunity city with a style uniquely its own. Let's quit wishing we were something else and let Houston be Houston. By TORY GATTIS Houston is at a turning point. With a boost from noted urbanist Joel Kotkin, our city has begun recasting its national reputation from "that ugly, sprawling, weird city without zoning" to the exemplar city for "Opportunity Urbanism," a compelling new paradigm for cities in the 21st century. This paradigm asserts that the fundamental (but recently forgotten) core mission of cities is to accelerate the upward social and economic mobility of its inhabitants. This may sound obvious to the average person, but in the wonkish world of urban policy and plan ...

Read the rest of entry »

Small Business Ownership - The Path to Millionaire Status?

Something interesting happened at the bank yesterday. Sadly, it wasn’t that I noticed an extra $100,000 in my account. I was at the teller window and the young guy next to me was probably in his mid twenties, with his little toddler in tow. He was inquiring about the best way to set up regular $25,000 deposits. After a few minutes, he left and the middle aged woman who was the next customer at the window wanted to put $75 from her credit card into her checking account. I would assume this was to avoid bouncing a check. This dichotomy was very interesting to me. These two individuals were obviously at very different places in their financial lives. It brilliantly illustrates the importance of proper financial health. The young man was, from outward appearance, not much different economically from the woman. In fact, the woman was more nicely dressed than the man was, yet was seemingly a gnat’s whisker away from financial disaster, living paycheck to paycheck. The other person however, was explor ...

Read the rest of entry »

Texas Is No. 2 Place For Retiring Baby Boomers

Watch out, Florida! Texas has emerged as the No. 2 retirement mecca in the country. The Lone Star State has vaulted over Arizona and California and is gaining on the Sunshine State. The North Carolina Center for Creative Retirement, which is nationally known for tracking retirement migration trends, studied 2005 data from the U.S. Census Bureau on the number of Americans who move out of state to enjoy their golden years. "Older Americans who are looking to relocate upon retirement continue to move to sunny climes, but Texas has gained an edge over other Sun Belt states," said Bill Haas, the study's author. "Texas' lower living costs give it a distinct advantage." Texas' economy is among the better state economies in the country. In fact, Houston is No. 3 Business-Friendly City in the Nation. It has benefitted from the State's pro-growth policies, including no state income tax. Texas' natural attributes also appeal to boomers who plan to move when their first careers are over. Boomers are looking for war ...

Read the rest of entry »

International Business Brokers Association - 45th Semi-Annual Conference This Week

The International Business Brokers Association is having its 45th Semi-Annual Conference this week, June 3 through June 9, at the Memphis Cook Convention Center in Memphis, Tennessee. The International Business Brokers Association® (IBBA®) is the largest international non-profit association operating exclusively for the benefit of people and firms engaged in the various aspects of business brokerage and mergers and acquisitions. Today, the IBBA has more than 1,800 cooperative business brokers and intermediaries across Canada, Mexico, Asia, Europe, Australia and the United States. The association represents professional, ethical and practice standards by which its members operate. This semi-annual event is seven days of professional development and top-notch education and networking. Educational and Workshop courses number close to 100 and include such topics as: Up-to-date legal and tax issues that impact business transfer transactions Analyzing and recasting financial statem ...

Read the rest of entry »