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What are the most common small business tax mistakes?

The last thing you want to do is make a tax mistake as it relates to your small business. Not only can this cost you a lot of money, but it can also take time to get things back in order.

While most small business owners find it impossible to understand every aspect of the tax code, there are a few key details you can pick up on that can help you avoid trouble in the future.

Does your business plan have a marketing component?

When creating a business plan, it's imperative that you focus on all the most important details. This includes a marketing strategy that will help you get your message out to your target audience.

Your marketing strategy must suit your company, so don't copy what your competitors are doing. Stick with the things that you are most comfortable doing, all with an eye toward reaching your goals.

Real estate closing delay: Don’t let this happen to you

Imagine this situation: You are all ready to close on your home, but at the last second you find out that the process can't move forward for one reason or another. There are not many things in life more disappointing than this.

Although it sounds farfetched, this happens more times than many people realize. Since you don't want to go through this, it's important to prepare for your closing as far in advance as possible.

Dealing with commercial evictions in Florida

If you rent property to a commercial tenant in Florida, you should prepare yourself for a variety of eventualities. If you ever face the necessity of considering eviction proceedings against a business, it can be helpful to know some basic concepts.

The circumstances surrounding any eviction case can affect the way the law may apply. An experienced attorney can assess the facts and advise you as to how you can best meet your objectives.

How to avoid commercial real estate lease disputes

If you are a landlord of a commercial property in Florida, it is important to understand landlord/tenant laws. Making a misstep could cost you a lot of money and time. One of the most important aspects of your landlord/tenant relationship is creating a solid lease. Many times the issues that come about in commercial real estate are related to lease disputes. To avoid these, you have to be sure you write a comprehensive lease that spells everything out. However, you also have to make sure it follows the law. The Lake County government states your commerical real estate lease should be in writing because oral agreements can be difficult to maintain and enforce.

When it comes to the length of the lease, you must state specifically how long the lease will last or state law dictates it is the period of the rent. For example, if your tenant pays rent every month, then the lease would be considered valid for one month only, if you do not state a length. If you will require deposits, these need to be outlined in the lease. You must inform the tenant if a deposit is not refundable.

Are you familiar with these business plan mistakes?

Creating a business plan is one of the most important steps you will take as you launch your company. With this in hand, you'll find it much easier to make all the right decisions in regards to the future of your business.

Unfortunately, it's entirely too common to make mistakes when creating a business plan. Here are some of the many things you need to avoid:

  • A poorly-constructed business plan. Not only can this lead you down the wrong path, but it won't work in your favor if you need to present the plan to someone else, such as a bank or potential business partner.
  • Incomplete business plan. It's easy to get excited about creating a business plan. It's just as easy to give up halfway through and turn your attention to other details.
  • Lack of detail. Your business plan should be full of details, all of which are meant to provide guidance in the future. Don't be vague.
  • The business plan includes too many assumptions. Your plan should be based around facts, not things that you hope will happen in the future.

Florida man issues guilty plea in real estate scam

A Florida man issued a guilty plea, therefore waiving his right to be indicted, in a real estate scam that swindled millions of dollars from investors in Fairfield County, Connecticut. The man, 74, entered the guilty plea on Sept. 11 to wire fraud charges. The man, who is from Vero Beach, worked in the commercial real estate sector.

The defendant's work in Fairfield County involved arranging the purchase and subsequent development of multiple commercial properties. These included hotels and residences with multiple tenants. The defendant had multiple business partners and they all operated using various entities. Those entities included Seaboard Properties Group LLC, Seaboard Stamford Investment Group and Seaboard Realty LLC.

Consider all necessary upgrades when making an offer on a home

You're going to make an offer on a new house. It's an exciting time, and you're anxious to get it in writing before someone else makes a better offer.

Don't go too quickly. It's important to consider all necessary upgrades. You can often work them into the offer price.

Do you understand the expenses of buying your first home?

As you begin to shop for your first home, it's only natural to focus some of your time and attention on the financial side of things. Like many, you turn your attention to the actual price of the property. You know how much you can afford to spend, and you do your best to stick with this number.

However, some people make the mistake of overlooking the many expenses of buying a home. For this reason, they are surprised when they make their way to the closing table.

How to avoid contract disputes in your Florida small business

A common source of litigation for small businesses is contract disputes. This can entail arguing over the terms of the agreement or breaching the contract, whether partially or completely. Whatever the reason, resulting lawsuits can be expensive and detrimental to your business. 

Although the only guarantees in life are death and taxes, you can take these steps to reduce the risk of finding your small business in a contract dispute. Some situations you are in control of preventing.

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