All Forum Posts by: Jeff Nash

You might check with @Stanley J Black.

Hi Daniel, congratulations!  As you noted, there is a benefit using this equity to your benefit at some point in time. I am a CPA and not an attorney, but would be happy to connect to learn more about your situation and goals and see if I can help or refer you to the right resource.  

Congratulations and good luck.  I have an O&G background on the accounting and tax side and know you put in hard work out in the field.  

I have a few comments - are you able to get any financial information from the existing or previous owner?  If so, did the owner prepare the financials or did a professional? This would provide you with a baseline and offer insight into the categories and amounts to some degree.  If you are investing in a foreign country you have to be aware of of the local rules and regulations and associated costs that might not be applicable or be different than in the US. The basis of accounting could also be different so that is something you would need to be aware of.

As far as projections go, those will rely heavily on the assumptions you use so you want to make sure they are well supported and reasonable and periodically update for new information and changes in facts and circumstances.  

As far as that template goes, it does not follow your basic US GAAP labels (or at least looks like it might be for a nonprofit or IFRS).  Do you currently use an accounting or tax professional?  If so reach out to him or her, and if not you might want to engage one for something like this.  It can be hard enough working on domestic matters but when you add foreign issues to the mix it adds another level of complexity.

This appear to provide some good information- https://www.theceshop.com/wash...

Since you are in multiple states and it falls under state licensing you would need to do a cost benefit analysis and see if the continuing licensing fees, brokerage, and time spent on CE would be less than the money you would save on personal deals or 3rd party deals. 

@Denver McClure maybe you can contribute?

You are knowledgeable and on the right track as far as needing income from self-employment.  @Dmitriy Fomichenko can address your fact pattern without any conflict of interest.

@Denver McClure would be a good resource for analysis.  

How much more do you need and what about leveraging your own financial resources?  Feel free to share or message me.

I am not sure about your overall financial and tax situation but can you borrow from yourself? I can expand on that with more information.  Feel free to message me if you would like.