Your Questions About The Real Biz
Thomas asks…
How do I depreciate a business acquisition?
I purchased a business in 2006 that owns real estate. I have some good will and some equipment. Do I have to use 39 years for the building ? Does it make any difference that the building has already been in use for 10 years ?
I was thinking – if the biz purchase is 1m
150k land – no depreciation
600k is building – 39 years ?
50k is equipment – 5 years
200k is good will – 15 years ?
Can I break down the 600k and depreciate part of it faster ?
Does the fact that the owner depreciated it for 10 years already make any difference to me ?
Your help is appreciated
Jere answers:
For income tax purposes, you are required to use 39 years for the building. Age and prior depreciation makes no difference. Some of the equipment may not qualify for 5 year depreciation. You may need to use 7 years. You can take first yr Sec 179 write off on some of the equipment. You really need to see a local CPA for more advice. With a business purchase of this size, you will have other issues as well.
Linda asks…
Can you tell me what the most honest and best home-based biz?
There are so many scams, that it is hard to know in which direction to go.
I would like a way to earn money from home, but I want a fair compensation and a company of integrity.
Jere answers:
I am sure you have gotten a lot of responses, but let me share a quick story. I joined a home business in March. I thought it was a great concept and thought for sure everyone would want it, I knew they all would need it. In making my “pitch” I was missing something. I did not get the business and its real purpose. Now, I could go on and tell you we are traded on the New York Stock Exchange and that some states need a license, so we are legit, but when I heard the founder of this company talk, it made me realize, I was with a company, where the founder was actually in it to help people. All people. His story is incredible and when he spoke, it was right to me. If you do want to find a business where the founder believes in it and truly wants us to be successful and help thousands of people, I will share the information with you!
Lizzie asks…
Anybody out there know of any legit work from home opportunities?
Hi
I have been wanting to quit my crappy *** job for a long time, i have been searching for work from home business’s now for over 3 years. There seems to be so much crap out there its not funny. So i thought i would ask, if any real people out there have experienced a work from home biz op where you can make real money.
Real experiences preferable.
Jere answers:
If you are interested to work from home with cell phones, check out;
http://work-from-home-training.blogspot.com/
Here you can get the best training course how to work from home with cell phones and make a realistic $3000 a month;
Mary asks…
Do any users know of home biz opps,that are business verified or rated with the BBB ?
Hello I’m getting a list together,trying to narrow the field down for other users. Because of all the scams on the internet.
Jere answers:
Fraid not. Ask someone in authority in real life
Sandra asks…
What are the good “Sneaker spots” in Boston?
I’m headed on a flight to boston on tuesday. I wanted to buy some sneakers up there so do you guys know any GOOD sneaker spots in boston? I need a sneaker spot that sells REAL Nikes, Jordans, etc. Please and Thanks.
Jere answers:
200 Newbury ST
http://www.yelp.com/biz/niketown-boston
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