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Banking & Business Transactions Archives

We help those in Tennessee undertaking business transactions

As some people in the business world may say, "You've got to spend money to make money." And, in fact, the strength of the economy in Tennessee is in part dependent upon people being able to obtain business loans. The lending of money allows businesses to grow and thrive, so that they not only ultimately pay back the loan plus interest, but also increase their own profits.

Utilizing a write-off when trying to recover debts

Financial institutions by nature take on a risk when issuing a loan, but most of the time this risk pays off when the borrower pays back the loan plus interest. In fact, loans like these, whether they are mortgages, a business loan or other type of loan, are an important part of the economy in Tennessee. However, when a borrower fails to pay back the loan, it is necessary for the lender to take steps to recover the debt.

Initial considerations when liquidating business assets - II

Once a business owner arrives at the monumental decision to exit their enterprise, they will find themselves confronted with an entirely new set of questions to consider. Should they pass it on to the next generation? Should they sell it to the highest bidder? Should they merge with a competitor? Should they just call it quits?

Initial considerations when liquidating business assets

The decision to exit a business is never easy, as most business owners have invested considerable time, money and sweat equity into trying to make their operation successful. However, the reality is that sometimes things just don't work out, or the business owner simply can't do it anymore.

How to make this year's National Small Business Week one to remember

Ask any small business owner about their schedule on any given day of the week and chances are good they'll tell you they're swamped. Indeed, there's always inventory to check, books to balance, delivery schedules to keep and cash registers to operate.

Who must pay business tax in Tennessee?

Now that Tax Day 2017 is officially in the rearview mirror, it's understandable if people want to take a bit of a break from this subject. After all, they might have had to race to complete their forms, race to their accountant's office and race to the post office to get their returns mailed on time.

Decisions, decisions: Should you buy or lease business equipment?

As we've discussed in previous posts, once an entrepreneur has laid the foundation for their new operation -- selecting an entity, drafting a business plan, hiring employees, etc. -- there is still a significant amount of work that needs to be completed. For example, office or commercial space will need to be found, and new business equipment secured.

Report: Tennessee number one for job growth in small businesses

It's understandable why people in certain regions of the nation would prefer to avoid any and all discussions concerning the Great Recession, which took an incredible toll on not just homeowners, but employers and employees alike. However, the chances of encountering such reticence are considerably less here in Tennessee, which not only weathered the economic storm remarkably well, but has since seen considerable growth.

Considering the purchase of an existing business? Proceed with caution

While most people think the initial issue that all budding entrepreneurs must decide is the selection of a business entity, meaning whether they wish to organize as a sole proprietorship, corporation or limited liability country, this is not actually the case.

What's the right business entity for you? Examining sole proprietorships - II

Last week, we began discussing how budding -- or perhaps even accidental -- entrepreneurs may want to consider organizing as a sole proprietorship, one of the most popular business structures.

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Spragins, Barnett & Cobb, PLC
312 East Lafayette
Jackson, TN 38301

Phone: 731-300-1592
Fax: 731-424-0562
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