Are you losing joint ventures?

What are some of the situations that people don’t realize, that if some people are doing business with you or joint ventures, or in the area of government contracts or even any kind of bidding, they actually may check out your Dunn and Bradstreet score in your company. That may be a deciding factor if they do business or joint venture or recommend you.

The Real Importance of Your Dunn & Bradstreet Credit Profile!

It used to be, before the current credit crisis, that 100 people would go into a bank to get a business loan, and probably 90 of them would get turned down for a straight business loan. They would steer them into something else, a second on their house, equipment leasing, a personal loan, something else. And 10 out of 100 would get a business loan.

That was before the credit crisis. The banks didn’t tell you that we’re going to pull your Dunn and Bradstreet credit profile and take a look at that. Now, you take the same 100 people that go in, probably 100 are going to get turned down, rather than 90.

It was bad before. Government statistics show that it was bad for a straight business loan and credit lines before. But it’s gotten worse, the last year especially.

It’s even more important now, if they’re going to pull that credit profile. You could have gone in 3 years ago, even if you didn’t have a full credit profile, and got $15,000, $20,000 if you had decent personal credit.

That isn’t the case anymore. The banks will pull that credit profile. If it doesn’t exist, they’re going to turn you down.

Like I say, the statistics were high before. It’s almost 100% now.

If you have that credit profile there and it’s deep enough and it’s set up and you have the ratings and the scores, then you can get the lines of credit. But very, very few people that are going to go into a bank are going to have that in place.

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Scott Letourneau is the CEO of Nevada Corporate Planners, Inc and Fast Business Credit, Inc. and has helped thousands of people beat the credit bureaus and increase their trade credit! Click the business credit builder link for powerful details!

 

Scott LeTourneau, president of Nevada Corporate Planners in Las Vegas, has helped thousands of small business owners start their businesses and then has helped them implement the strategies necessary to make those businesses thrive in this tough economy. His firm helps companies throughout America incorporate in the most tax-efficient and legal way to help the business owner protect his assets. Scott also conducts regular webinars and seminars to help business owners avoid the most common mistakes that cause most businesses to fail.

Find out more about his services at www.businessanswerstoday.com or by calling 1-877-627-5555. In this interview he describes the right steps to incorporate your business and make the right moves to help it thrive!

Want to know the #1 secret of Credit Bureaus?

Credit Bureaus Are in Business to Make Money.

Every one of the major credit reporting agencies or credit bureaus; TransUnion, Experian and Equifax, are independent businesses. They are, at their core, the largest list broker services in the nation; which means that they sell consumer information, and not just in the case of credit reports. They sell qualified lists. They’re the largest list brokers in the nation.

Isn’t it amazing that you can call up any one of the 3 credit bureaus and request that documentation? They will sell you that information that qualified list. And nobody whose name is on that list needs to be asked if it’s okay with them, because that’s the business that they’re really in.

A credit report is nothing more than taking the same information they already have on all of us and putting it into a package that we call a credit report, and then selling it.

Here’s another secret:

Credit Bureaus Are in Business to Make Even MORE Money.

Another way credit bureaus make money and one that most people don’t realize is, they get paid by the creditors. The creditors actually pay to report information.

Not only does it cost them money to compile it, but they also have to purchase the software system that integrates with the credit scoring companies or the credit bureaus themselves, TransUnion, Experian and Equifax, they have to pay for that and they have to pay to report every line that they report on consumers.

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Scott Letourneau is the CEO of Nevada Corporate Planners, Inc and Fast Business Credit, Inc. and has helped thousands of people beat the credit bureaus and increase their trade credit! Click the business credit builder link for powerful details!

First make sure, you work with the right company when utilizing a merchant account cash advance!

On a good month, the money is paid back a little bit faster. But in a slower month, it will be paid back a little bit slower.

You will be required to switch to a designated credit card processor prior to being funded. This is for the benefit of the customer, because when lending money out and buying people’s receivables, a very important part is how fast can the money get to the customer when they’re doing their business again?

There is an additional delay by setting up a lockbox, which can be done in some circumstances if somebody’s tied to it, but the faster I can get the money, the less money I have to give that merchant to have the same impact on their business. If there is 3-day delay on somebody and they have $100,000, I could have given that same merchant $90,000 and would have the same impact on their company.

Merchants who submit the merchant information form, the last 12 months of credit card statements can be approved and funded in 5 to 7 business days.

The automatic repayment method of the merchant’s daily Visa/MasterCard receipts really streamlines the repayment process. It really assists in those bad months.

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Scott Letourneau is the CEO of Nevada Corporate Planners, Inc and Fast Business Credit, Inc. and has helped thousands of people get access to merchant account cash advance lending! Click the merchant account cash advance lending link for powerful details!

Most people know their credit report determines the quality of loans and trade credit they get. Do you know banks and other financial institutions will use tricks of the trade to make you pay more in fees! Here’s some secrets they don’t want you to know! 

Secret: Banks and Other Financial Institutions Prefer you to Have Low Credit Scores.

Financial institutions make more money on people who have what we would consider to be low credit scores. Not necessarily a bad credit report, just missed any payment. One missed payment can lower your score as much as 100 points. The lower your score the higher the rates they can charge.

Secret: When Writing Loans, the Higher the Interest Rate, the More Money We Make, the Better the Yield.

This is why they’ll lower your score if they can. A tiny difference in interest can result in thousands of dollars (if not more) in profit for the bank.

Secret: The Mystery of the Credit Scoring Formula!

Today, you want to find out how your credit score is actually determined. Good luck with that one, because that is intellectual capital that is owned by the credit scoring systems like Fair Isaac, and they’re not going to tell anybody how that works.

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Scott Letourneau is the CEO of Nevada Corporate Planners, Inc and Fast Business Credit, Inc. and has helped thousands of people get access to merchant accounts with great rates! Click the merchant account link for powerful details!

What are Merchant Account Cash Advances?

It’s the Hottest Source of Lending Today!

Does Your Business Have VISA/MASTER CARD Sales Every Month? If so, this May be Your Solution!

The New Kid on the Block:
Merchant Account Cash Advance Lending.

• Banks turn down 7 out of 10 small business applications.
• Banks focus almost exclusively on the entrepreneur’s credit rating.
• Instead of credit scores, this program focuses on cash flow generated by credit card transactions!
• Credit scores look at the struggle of the business and cash flow you look at the success of a business!

For the first time in about 17 years, the American public can’t simply overspend, overcharge their credit cards then go refinance their house in 3 years from now and get back to zero and start over again.

What about Merchant Account Cash Advance Lending?

Merchant account cash advance lending purchases people’s future Visa/MasterCard receipts at a discount. They are paid back by deducting a fixed percentage of the merchant’s daily Visa/MasterCard credit card sales from the processor.

In essence, there isn’t a fixed payment on the merchant and they come to an agreed amount of percentage that they are going to take back from the merchant.

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Scott Letourneau is the CEO of Nevada Corporate Planners, Inc and Fast Business Credit, Inc. and has helped thousands of people get access to merchant accounts ! Click the merchant account link for powerful details

Can you get help from the SBA?

The Small Business Administration, (SBA loans) is for people that actually have secured assets, including some equity in their house or inventory receivables in their business.

About 8 months ago, the Small Business Administration, at the government level, looked at their portfolio and was not happy with the performance of the portfolio. What they did was they closed the pipeline that’s been open for the last 15 years to these small businesses that needed access to capital.

The government guarantees 90% of these loans. The local banks guarantee 10%. But SBA lending has really dried up. It’s available to very few people right now. That funding has dried up and quite honestly, they’re not going to help you until you’ve been in business for 2 or 3 years anyway.

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Scott Letourneau is the CEO of Nevada Corporate Planners, Inc and Fast Business Credit, Inc. and has helped thousands of people get access to business credit! Click the business credit link for powerful details!

Looking to form a S Corporation?

Before you start a business, be sure to do your homework. Hire a professional to help you through the process, review the advantages and disadvantages of each type of business, and establish business lines of credit so that you can have sufficient capitalization for your venture.

The first step is to take off your do-it-yourself hat. If you want to be successful in business, it’s important to surround yourself with others who can guide you through the process and avoid costly mistakes. That’s why you’ll want to hire a professional to take care of matters that you’re not familiar with. Before you file the paperwork, hire a professional business advisor who can walk you through the process and will be available to help you in the early stages of your business. Ideally, the company you seek does more than just form the S corporation. As you know, 80-95% of business owners fail within 5 years. The key is for that company to provide you resources to help grow your business to the next level!

There are several advantages to forming an S Corporation. Here are just a few. Check with a professional business consultant for a full list of advantages:

You won’t pay corporate taxes. This means that you won’t have to pay the double taxation penalty that corporations must pay. This means huge tax savings for the owner(s) because it passes through your personal income taxes. However, you’re expected to pay yourself a reasonable salary by industry standards. Your salary is taxed at 15.3%, the same amount as self-employment tax. The IRS keeps an eye on businesses that pay unreasonably low salaries in order to avoid taxes, so be realistic when you determine your salary to avoid the IRS red flag.

You’ll have heightened liability protection. While you won’t be protected for everything, for the most part, you personal property is protected when you’re dealing with creditors, liens, and lawsuits. Become familiar with the liability protection that is available (and not available) by forming an LLC taxed as an S corporation vs. just an S corporation.

Taxable gains are reduced. If you should ever decide to sell the business, you may pay less on taxable gains than you would with a corporation.

Once you’ve hired a consultant and have decided to move forward, you’ll have to file Form 2553 with the IRS to get started (keep in mind you may have to file a similar form at the state level also). Here are some of the requirements:

You cannot have more than 100 shareholders. If a husband and wife jointly form an S Corporation, they are considered as one shareholder. Certain trusts, estates, and individuals qualify as shareholders in the S Corporation structure, as long as they are American citizens. This is a problem if you are looking to have investors and you later realize that an investor may not invest into your S corporation as a Corporation, LLC taxed as a partnership or foreigner.

All shareholders agree to the S Corporation structure. Presumably you’ll all be in agreement but if you’re not, you cannot form an S Corporation entity.

You must form your domestic company within the United States. Please check with individual states because laws vary regarding business requirements.

Once you’ve filed the paperwork, be sure to plan ahead and establish business lines of credit. Credit is awarded according to the cash you have on hand, not your need for it. Stop using your personal credit cards and pay down the balances. The more responsible you are personally, the more likely you’ll be able to establish credit for your business.

Starting an S Corporation does not have to be a headache. Consult with a professional so you’ll avoid the costly mistakes that come with inexperience. Then you can focus on taking your business straight to the top of your market.

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Scott Letourneau is the CEO of Nevada Corporate Planners, Inc and Fast Business Credit, Inc. and has helped thousands of people to form a S corporation! Click the S Corporation link for powerful details!

If you want to form a Limited Liability Company that will be taxed as an S Corporation, you’ll want to know some basic information before you start a business. Many people choose to form their companies as an LLC but with the S Corporation taxation election. Why?

There are two parts involved, taxes and liability advantages. There is a tax advantage in most cases because having an entity taxed as an S corporation allows the owners to save on self-employment taxes (which are 15.3% up to $106,800 of earned income in 2009) on distributions of profits. It is very important to take a reasonable salary when you have either an S corporation or an LLC taxed as an S corporation.

The IRS does not like an owner of an S corporation to take only distributions that are not subject to SE taxes. A reasonable salary is the key. Second, point is that an LLC taxed as an S corporation has an extra layer of liability protection vs. just an S corporation. That is called the “charging order” protection.

These are the two main reasons it may be to your benefit to start a business and form an LLC, yet tax it as an S Corporation. Key point: make sure you file form 2553 federally with the IRS to make the S election in a timely manor (plus some states require a state form to be filed also).

Because the owner of the LLC is self-employed, 15.3% of all earnings up to $106,800 in 2009 are subject to self-employment taxes. For instance, let’s say that you earned $60,000 last year in your LLC. You would pay $9,180 in self-employment tax. That money will go toward your Social Security and Medicaid payments. However, there is a way to earn a lucrative salary without taking a hit on all of the profits.

Let’s say that you formed an LLC taxed as an S Corporation. You earn the same amount of money but pay yourself a salary of $40,000. You’ll pay only $6,120 in self-employment tax. That’s a tax savings of $3,060. S Corporations can elect to pay the remaining $20,000 in earnings as a distribution from the company. As an LLC, you can also elect to split the profits in this manner, as long as you follow IRS guidelines. That’s where the tax savings comes into play.

If you want to form an LLC but want the tax advantages of an S Corporation, you’ll have to get permission from the IRS by filing Form 2553. Timing is crucial, however. This form is due by the 15th day of the third month of the tax year. If you formed your company in May, you’ll have until August 15 to file. Miss that deadline, and you will not be able to take advantage of S Corporation tax savings.

Keep in mind that an LLC taxed as an S corporation may not be beneficial to everyone. For example, in California a licensed professional cannot form an LLC so their best option may be a corporation. Because you have three months to file for S Corporation tax status, make it a priority to seek professional assistance before making the final decision. For many small business owners, however, the ease of management that a Limited Liability Company offers combined with the lower taxes of an S Corporation make this decision an easy one to make.

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Scott Letourneau is the CEO of Nevada Corporate Planners, Inc and Fast Business Credit, Inc. and has helped thousands of people to form an LLC taxed as an S corporation! Click the LLC/S Corporation link for powerful details!

 

 

Hi Everyone!

This message is extremely time-sensitive. If you don’t read this right now, you will miss out on the key strategies that could change your internet business forever!

Here’s the news:

The world’s biggest internet business event, World Internet Summit happens this weekend - Thursday March 12 through Sunday March 15, in the Gold Coast, Australia.

Tom Hua and Brett McFall are set to blow us all away with their slate of world-class experts ready to teach you their secrets for success. Everyone, I mean everyone, is excited and ready.

After the outpouring of emails from people who wanted to make it to the event but couldn’t, a decision has been made that means you can attend the event LIVE from your home!

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Just Switch On Your Computer And You’re In!!!
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Yep, it’s true. World Internet Summit Gold Coast is being filmed anyway. So right now the cables are being laid… the website is being designed so that you can watch the entire event LIVE over the internet.

It’s the next best thing to attending World Internet Summit Gold Coast in person!

Tickets sell for $997 to this event. Yet this broadcast gets you in for just cents on the dollar (for a whole 4 days!)

So if you too were disappointed that you couldn’t be here in the Gold Coast, Australia, now you can watch the entire 4 day event and get all the latest internet marketing secrets of the experts like:

Sean Roach
Debra Thompson Roedl
Matt Bacak
Dr. Mike Woo-Ming
Brian ‘Koz’ Kosobucki
Matt and Amanda Clarkson
Nikhil Parekh
Barnaby de Palma
Raymond Aaron
James Schramko
Scott Letourneau

Plus the famous World Internet Challenge! See how Sean Roach builds a web business from scratch and then gives the money made from it to someone in the audience!

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But There Is A Catch!!!
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If you want to watch the world’s best internet marketers LIVE on your computer, you need to go to this website and register immediately (Note: this registration form is only available for 48 hours and so if you don’t register now you’ll be locked out)

Join World Internet Summit Gold Coast at GotAccess or Cut and Paste this address below in your browser:

http://tinyurl.com/ScottWIS

This is an amazing opportunity to get the secrets you need to make it in this economy.

So this weekend, Thursday March 12 through Sunday March 15, get the edge that will change your internet future forever - watch World Internet Summit Gold Coast LIVE on your computer.

Join World Internet Summit Gold Coast at GotAccess!

Regards,

Scott