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give a sense of how you are doing accounting now? i m not really. how do you track stuff? i don t, i have money coming in and pay my bills and i see what is in my business checking account and that s it. you are starting to blow my mind. how do you pay taxes? i pay sales tax, but for my 2011 taxes, i just guessed. you guessed? i guesstimated, and sent in an amount. i hope you guessed high, because that s a technical foul we call it. shall we go and look at the books. show us where we are. literally, we want to see it. this is the office? yes. glad to see you have accounting records. okay. this is the previous
news. small companies create about 2/3 of all new jobs. small businesses are not expanding to borrow more money, to purchase mr. capital equipment, and, property, and plant and and that has implications for the entire economy. in other small business lending news the nation s second largest bank, jpmorgan chase announced a new small business lending program to give small companies a break on interest charges if they hire new employees. the bank said it will lower the interest rate on the line of credit to a small business, by up to 2 percentage points, if it hires up to 3 new workers, and opens a business checking account. other banks and the federal government have also announced new efforts to increase small business lending. that is it for this edition of the small business report, in washington, peter barnes, fox business network. the fourth of july weekend, barbecues and fireworks, of course but a time to remember just how our freedom was won.
dawn is a local accountant that specializes in quick books financial software. give dawn a sense of how you re doing your accounting now. i m not really. how do you track stuff? i don t. i have money coming in and i pay my bills and see what s in my business checking account. that s about it. now you re starting to blow my mind. how do you track your taxes. i pay my sales tax but for my 2011 taxes, i just guessed. you guessed? guestimated an amount. i think i guessed high. that s a technical foul, we call it. let s go look at the books. show us where they are. literally. i want to see it. this is the office? yes. this is where it all happens. i m glad to see you have accounting records. those aren t mine. that s the previous business
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