Sentences with phrase «business debts you incur»

Here, each partner is personally liable for the business debts incurred by other partners.

Since no distinction is made between you and the business you operate, you have unlimited personal liability for any business debts you incur.

Not exact matches

«While no small businesses is looking to borrow $ 14 trillion, it can plan how much debt to incur,» notes the author.

We expect that the New Credit Facility will contain a number of covenants that, among other things, restrict SSE Holdings» ability to, subject to specified exceptions, incur additional debt; incur additional liens and contingent liabilities; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve itself, engage in businesses that are not in a related line of business; make loans, advances or guarantees; pay dividends or make other distributions (with certain exceptions, including tax distributions and repurchases of management equity); engage in transactions with affiliates; and make investments.

So if a silent partner has a 10 % stake in a business, for example, he or she would only be accountable for 10 % of the incurred losses and debts.

This reflects the outstanding capital you've lent to businesses, minus any bad debts you've incurred.

With 401 (k) business funding (also called Rollovers for Business Start - ups) you can use your retirement funds to buy a business or franchise without incurring tax penalties or taking on additionbusiness funding (also called Rollovers for Business Start - ups) you can use your retirement funds to buy a business or franchise without incurring tax penalties or taking on additionBusiness Start - ups) you can use your retirement funds to buy a business or franchise without incurring tax penalties or taking on additionbusiness or franchise without incurring tax penalties or taking on additional debt.

The Treasury says the proposed regulations generally do not apply to related - party debt that is incurred to fund actual business investment, such as building or equipping a factory.

When owners are personally liable for the effects of what the business does, and for paying the debts the business incurs, their relation to the business are much closer.

Us fans thought the business model was, A. whilst paying off stadium debt — achieve top four finish and reach last sixteen whilst not incurring more debt.

Bloomberg Business reported on Friday that «Abengoa Yield Plc's Mojave and Solana solar farms in the U.S. Southwest are both producing electricity and generating revenue to pay the debt incurred building them.

He lost a job, failed in business twice, was defeated in elections eight times, became bankrupt and incurred a debt which took nearly seventeen years to be repaid, suffered a nervous breakdown and was bed ridden for six months and he had to deal with the loss of the woman he deeply loved (Anne Rutledge).

When a business credit card account is opened, a personal guarantee is when an officer of the corporation designates himself and is bound by contract to be liable for all debts incurred on the new credit card.

Terms, defined.For purposes of the Credit Services Organization Act: (1) Buyer shall mean an individual who is solicited to purchase or who purchases the services of a credit services organization; (2) Consumer reporting agency shall have the meaning assigned by the Fair Credit Reporting Act, 15 U.S.C. 1681a (f); (3) Credit services organization shall mean a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides or represents that the person can or will provide any of the following services: (a) Improving a buyer's credit record, history, or rating; (b) Obtaining an extension of credit for a buyer; or (c) Providing advice or assistance to a buyer with regard to subdivision (a) or (b) of this subdivision; (4) Extension of credit shall mean the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal, family, or household purposes; and (5) Person shall include individual, corporation, company, association, partnership, limited liability company, and other business entity.

However, if you lose the principal, in addition to the said above you would incur the loss as a personal bad debt, and not business.

The obvious problem for the company who wants to do business with you is that they are going to have a real hard time accessing credit to pay off any debts that they incur with doing business with you.

By contrast, ownership by a sole proprietor or partnership carries unlimited personal legal responsibility for debts incurred by the business.

If you work in your own business, you are most likely to incur non-consumer debt.

Non-consumer debts are mainly those incurred for business or profit purposes, tax debt and tort debt.

John was trying to get his business off the ground and had incurred a ton of unsecured debt by doing so.

Business debt accumulates just like personal debt and if your business doesn't produce as much income as needed to meet your monthly payments, then you may incur in personal debt too either because you are a guarantor of the company's debt or because you take a loan yourself to fund your bBusiness debt accumulates just like personal debt and if your business doesn't produce as much income as needed to meet your monthly payments, then you may incur in personal debt too either because you are a guarantor of the company's debt or because you take a loan yourself to fund your bbusiness doesn't produce as much income as needed to meet your monthly payments, then you may incur in personal debt too either because you are a guarantor of the company's debt or because you take a loan yourself to fund your businessbusiness.

NENG's most recent 10K specifically sets out that it is not party to any special - purpose or off balance sheet entities created for the purpose of raising capital, incurring debt or operating parts of its business that are not consolidated into its financial statements.

Even if you can expense the debt forgiveness, you will incur tax liability on your personal taxes side, and in addition you'll be out of cash in your business.

My business would incur a loss but I wouldn't have to use personal after - tax dollars to pay off my debt.

A business owned 20 percent or more by a person associated with a different business that caused the government to have incurred a loss related to a prior business debt

By incorporating, you generally also protect yourself in the event the business encounters legal trouble or incurs any debt.

The owner will be liable for debts incurred by the business.

However, note that the protection isn't perfect, and in certain circumstances you may become personally liable for the debts incurred by the business.

At the time of the separation, Wife was employed and had substantially the same assets as when she entered the marriage, although she had a debt of $ 16,783 from a loss incurred due to the sale of her own business.

Of course, this has its disadvantages, as you are personally liable for the debts your business incurs.

You will be required to pay out of your own pocket for any debts incurred by your business.

You are responsible for any and all debts you incur in the name of your business, and someone could sue you personally for business - related incidents.

All the personal assets of the proprietor are exposed to all debts and liabilities incurred by the business

• Track record of developing highly successful business / product campaigns producing numerous qualified leads each month within multiple regions, successfully moved business from $ 500K to more than $ 5M in annual revenue, paid off 100 % of debt incurred with two acquisitions, and brought company to 20 % profitability in 2011.

So, you're going to sell an LLC that was filed 2 months ago, how do you know that LLC didn't conduct other business, told a few lies, incurred debt or obligations, that in 3 more weeks the LLC buyer has a law suit on their hands?

Businesses restricted from incurring additional debt by prior loan or bond agreements may be able to circumvent these limits by using a sale - leaseback.