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Doug, It looks like you received an adequate answer to your posting.  There are hundreds of companies out there with accounting programs of one sort or another. Please allow me to make you an offer you won’t see anywhere else.  My company, A-Systems Corporation, has been doing accounting software for a quarter of a century.  We predate many companies including Microsoft’s purchase of QDOS from Seattle Computer Products in 1980. We focused on the construction industry for over two decades.   Underlying our powerful job costing software was a bulletproof general accounting program that was used by a number of non construction companies.  In early 2003, we started shipping that general accounting program.  The Small Business Advantage (SBA) is the version that will probably meet all of your needs.  Under an agreement with the Unites States Small Business Administration (US SBA), we do not sell the software for its list price, we give it away.  We ask $25 to cover the cost of burning each unique CD and shipping it to new clients via USPS Priority Mail.  If you want you can go to your nearest SBA office and see our construction accounting version.  A copy is available at every SBA office in the nation. The CD also includes over 50 sessions of multimedia training.  One of those sessions is an introductory course in accounting processes and terminology.  In addition, the SBA version has a "Wizard" to help new users set up their own company. This software probably has what you need, so if the $25 price is not too much of a shock, you might do well to own it.  You can order it toll free at (800) 365-6790. Thanks, Arnold – Hide quoted text — Show quoted text – Can someone please point me to a decent online resource which will help me decide which software package would be best for my small business (freelance consulting, income real estate, and very limited product sales)?  I have been doing Goggle searches and not coming up with anything but product sponsored pages or web price search engine type pages. Thanks in advance, Doug

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Can someone please point me to a decent online resource which will help me decide which software package would be best for my small business (freelance consulting, income real estate, and very limited product sales)?  I have been doing Goggle searches and not coming up with anything but product sponsored pages or web price search engine type pages. Thanks in advance, Doug

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Can someone please point me to a decent online resource which will help me decide which software package would be best for my small business (freelance consulting, income real estate, and very limited product sales)?  I have been doing Goggle searches and not coming up with anything but product sponsored pages or web price search engine type pages. Thanks in advance, Doug

I don’t think you will find independent software review like "Consumer Reports" but  some "low end" accounting packages like quicken, quickbooks, peachtree, MYOB, etc. can handle your needs.  Your best bet is to talk with a local accountant as there are tax considerations as well as bookkeeping concerns with a business, this can save you money in the long run, (the initial consultation is usually free)

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Every time you speak, you prove there is nothing more ignorant than a low life muslim. Fuck your pedophile mohammad and his moon god ahley. – Hide quoted text — Show quoted text – In the Name of Allah, Most Gracious, Most Merciful. Press Groups React Angrily To Cameraman Slaying WASHINGTON, August 18 (IslamOnline.net & News Agencies) – Palestinian Journalist Syndicate has called Monday, August 18, for forming an international committee of journalists to sue those responsible for killing reporters. "We call upon all Arab journalists as well as international journalists to take the stand and resolutions through which U.S.-Israeli recklessness can be stopped. We call for the formation of an international committee to bring those responsible for such crimes to fair international prosecutions," the syndicate’s communiqu

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I’ve had the sorry luck to have used an outfit known variously as Accountants Referral Network or Accountants Referral Services.  This organization is owned by a person known either as Lise Buscher, though she may introduce herself as Ann. This shadiness should be a warning.  This organization, by whatever name used, is unreliable, unproductive and a waste of money.  In my experience, they do not provide quality referrals.    Of the countless appointments I went on, only ONE became a financially viable client.  Most of the others were in search of  free advice so they could steer their present accountants in the correct direction. Two were so bad off that insolvency or bankruptcy were their only remaining options. I’m passing this along to keep others from learning a tough lesson. — Michael E. Blount, CPA Managing Director Blount & Company, LLP 888.984.1040 www.blountcpa.com

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I’ve had the sorry luck to have used an outfit known variously as Accountants Referral Network or Accountants Referral Services.  This organization is owned by a person known either as Lise Buscher, though she may introduce herself as Ann. This shadiness should be a warning.  This organization, by whatever name used, is unreliable, unproductive and a waste of money.  In my experience, they do not provide quality referrals.  Of the counteless appointments I went on, only ONE became a financially viable client.  Most of the others were in search of free advice so they could steer their present accountants in the right direction.  Two were so bad off that insolvency or bankruptcy were their only remaining options. In addition, I’ve been contacted by the US Postal Inspectors Office to follow up on mail/wire fraud charges levied against this organization. I’m passing this along to keep others from learning a tough lesson — Michael E. Blount, CPA Managing Director Blount & Company, LLP 888.984.1040 www.blountcpa.com

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Question:

Greetings WHat are the accounting transactions during a share revaluation? Scenario: COmpany A invest $100 in Company B.  Company B is operating at a loss, its shares are not devalued, hence company A has to change the shares on their books. What is affected in this transaction? Is the income statement affected? Is their an IAS rule to cover this? Cheers

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– Hide quoted text — Show quoted text – Greetings WHat are the accounting transactions during a share revaluation? Scenario: COmpany A invest $100 in Company B.  Company B is operating at a loss, its shares are not devalued, hence company A has to change the shares on their books. What is affected in this transaction? Is the income statement affected? Is their an IAS rule to cover this? Cheers

according to us gaap i believe it would depend upon whether you have a controlling stake in the company. if so, you would account for the investment under the "equity method" where the investment is marked to market… a less than controlling stake would allow you to maintain the investment at cost and revalue (i.e., hit the inc stmt) it only when an "other than temporary" impairment exists… hope this helps. toto

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True, but not liking someone is okay, because we all have a vote.  Have you actually listened to this guy speak?  He makes up words, sounds like he is on a high school debating team (and a poor one at that).  He is extremely conservative on almost every issue that comes up, and I can predict his stance on almost any issue.

And Gore never made anything up?  Thanks to him, we all have this lovely forum in which to express our opinions  You could also probably predict any politician’s stance just by looking at what party he was a member of.  I don’t like "extreme" anything, be it conservative or liberal, but I would have a hard time classifying GWB as "extremely" conservative.      And I am not "prejudiced" against people of wealth and privilege.  I just think that they don’t make the best presidents because they have a hard time relating to people like me.  Bill Clinton had a very modest upbringing, yet went on to become a Rhodes Scholar, a lawyer, and a president who presided over eight of the most peaceful and powerful years of our country.

Most peaceful?  Just because there wasn’t an all-out war doesn’t mean it was peaceful.  Having spent most of those 8 years in the US Army, I can attest to the fact that there were more deployments and more "peacekeeping" actions during that era than in any other.  Clinton wasn’t exactly living in a hovel as a child.  While probably lower-class by other region’s standards, it wasn’t considered to be so in that area.  I would argue that being a lawyer, Rhodes Scholar, and governor make it harder for someone to relate to the little guy.  Heck, just being President means you aren’t really in contact with John Q. Public. — Todd Stephens

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As a matter of fact, yeah, I am.  Oh, I’ve dropped a few grand in the market ~ 50% of my portfolio, but who’s counting.  You have to remember, a bulk of

For US stocks to keep rising the next 10-20 years, the profits of US corporations woudl have to keep rising. That can only happen in industries not susceptible to decentralization by information technology and outsourcing/restructuring. It can only happen in industries that keep growing revenue faster than the natural growth of compensation and costs of aging workforces.  It can only happen in industries that are somehow entwined in US markets that are not so vulnerable to lowcost imports… and it can anyways only happen if directors and officers make the conscious decision, year after year to hand over dividends to passive investors instead of spending excess cash flow on everything from capital investment to acquisitions to executive compensation. Finally, the only scenario that supports growth in US corp profits is either a continuation of domestic growth, suburban sprawl, more highway lanes and miles, etc. or, an unprecedented growth in exports, which is equally improbable, almost laughable IMO, In conclusion the bubble is over, get over it, sell your stocks and do something useful for humanity.  Get back to local indigenous business (i.e. working for a living, providing real services, real products, to each other within a sustainable economy that does not depend on constant growth, immigration, sprawl, etc.) Above all — do NOT let New York and Washington DC use this market collapse to increase their command-and-control system over America, which is only designed to transfer wealth to NY/DC. Todd – Hide quoted text — Show quoted text – The classic question is "Are you better off now than you were four years ago?". As a matter of fact, yeah, I am.  Oh, I’ve dropped a few grand in the market ~ 50% of my portfolio, but who’s counting.  You have to remember, a bulk of the stock markets overvaluation happened during the Clinton years (not that he was to blame for that), as well as the corporate fraud that was happening many years ago.  It just so happened that the bubble burst in these years. Oh what would you say about Gore if he were elected?

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Bill paid $50,000 to somebody else for the operating system which he licensed to IBM [his father is one of the top lawyers in Seattle so law suits are a major product from the day he left home to go to Harvard.] Microsoft "borrowed" the concept of Windows from Xerox Palo Alto Research Center and/or Apple, stole the compression software written by Stax [Microsoft lost a multi billion dollar lawsuit on that one]. More of such stuff at http://www.aaxnet.com/topics/msinc.html – Hide quoted text — Show quoted text – The more thorough the regulatory regime becomes, the more desperate everybody becomes outside those industries.  We are a nation of winners and losers. For example in Seattle you need to work for the Microsoft monopoly, which completely depends on police protection of software copyrights invented by Gates in the 1980s.  Or military contractors like Boeing.

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I, for one, would not have been blaming Gore for the current market/economic conditions.  Presidents have almost nothing to do with it

RIGHT The fact is that Clinton didn’t create the "bubble", and Bush didn’t break it.  It just happened.  Clinton* (*impeached) will get credit for a great economy from now on, however.

Presidents are approximately as relevant as those pictures of lion and tigers painted on B29 bombers during WW2. Or the symbols used by sports teams to excite the competitive urges of the crowd… What really matters is the continous stream of law and regulation delivered in your thousands of pages of daily legal and tax reports from CCH, BNA, etc. As the legal industry shifts into high gear you need software just to play the game http://www.reallegal.com/ etc. There are really no businesses that pay a dividend anymore, unless they are the beneficiaries of regulatory protections. The more thorough the regulatory regime becomes, the more desperate everybody becomes outside those industries.  We are a nation of winners and losers. For example in Seattle you need to work for the Microsoft monopoly, which completely depends on police protection of software copyrights invented by Gates in the 1980s.  Or military contractors like Boeing. If you work for the protected industries, you are going to make the good, living wages, up above $40,000.. everybody else is scrabling to operate a restaurant or dry cleaners, to serve these fortunate employees. So, keep an eye on those CCHs as our masters in New York and Wash DC churn the rules.  Who knows, among all the things constantly being ruled illegal, there might be a few gems of new "legislated opportunities" for you "subservient entrepreneurs"… TOdd

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Just because, for example, we weren’t DEFENDING OURSELVES against IRAQ (who threw out the weapons inspectors to facilitate future terrorism and attacks against us) doesn’t mean the years were "peaceful". We are having to threaten IRAQ today because Clinton* (*impeached) failed to act against them, as he should have, when the ejected the inspectors.  So, now that Bush is having to clean up Clinton’s mess, Clinton was a peacetime president and Bush a wartime one. Talk about a simplistic view of foreign policy!  It’s like on inauguration day all other nations in the world say, "Ok, new president in the US.  So we’re starting over; we’re not continuing our grudges; we’re going to restart our military affairs".

– Hide quoted text — Show quoted text – True, but not liking someone is okay, because we all have a vote.  Have you actually listened to this guy speak?  He makes up words, sounds like he is on a high school debating team (and a poor one at that).  He is extremely conservative on almost every issue that comes up, and I can predict his stance on almost any issue. And Gore never made anything up?  Thanks to him, we all have this lovely forum in which to express our opinions  You could also probably predict any politician’s stance just by looking at what party he was a member of. I don’t like "extreme" anything, be it conservative or liberal, but I would have a hard time classifying GWB as "extremely" conservative.      And I am not "prejudiced" against people of wealth and privilege. I just think that they don’t make the best presidents because they have a hard time relating to people like me.  Bill Clinton had a very modest upbringing, yet went on to become a Rhodes Scholar, a lawyer, and a president who presided over eight of the most peaceful and powerful years of our country. Most peaceful?  Just because there wasn’t an all-out war doesn’t mean it was peaceful.  Having spent most of those 8 years in the US Army, I can attest to the fact that there were more deployments and more "peacekeeping" actions during that era than in any other.  Clinton wasn’t exactly living in a hovel as a child.  While probably lower-class by other region’s standards, it wasn’t considered to be so in that area.  I would argue that being a lawyer, Rhodes Scholar, and governor make it harder for someone to relate to the little guy.  Heck, just being President means you aren’t really in contact with John Q. Public. — Todd Stephens

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I, for one, would not have been blaming Gore for the current market/economic conditions.  Presidents have almost nothing to do with it, except for what can be accomplished through use of the bully pulpit. The fact is that Clinton didn’t create the "bubble", and Bush didn’t break it.  It just happened.  Clinton* (*impeached) will get credit for a great economy from now on, however. I WOULD be blaming Gore for the foreign policy mess, as it would be ten times as bad as the one we now have.  The Clinton/Gore foreign policy team was comprised of total and absolute amateurs.  I think nearly everyone breathed a sigh of relief that Gore wasn’t in office on 9/11. – Hide quoted text — Show quoted text – As a matter of fact, yeah, I am.  Oh, I’ve dropped a few grand in the market ~ 50% of my portfolio, but who’s counting.  You have to remember, a bulk of the stock markets overvaluation happened during the Clinton years (not that he was to blame for that), as well as the corporate fraud that was happening many years ago.  It just so happened that the bubble burst in these years. Oh what would you say about Gore if he were elected?

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For those  few who don’t know this, the Democratic Party is committed the the principle that tax increases improve the economy as they drive people to work harder.

That would depend on where the tax increases were.  If they increased the tax on, lets say fishing bait, I’d work instead of go fishing. As usual, it’s all politics. — Paul A. Thomas, CPA Athens,  Georgia http://www.pat-cpa.com

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But he sets monetary policy? Sure, courtesy of uncle Milton. He sets monetary policy by deciding how much to print, influencing how much money is spent (pocket veto) and on what, and a host of other administrative decisions affecting how our money is traded overseas.

I think that monetary policy is a function of the federal reserve and its chairman, not necessarily the POTUS. Had to study it in my econ and international accounting classes. Remember how Reagan indulged Milton Friedman by making money growth grow at a consistent rate in the early 80’s, by restricting its growth, and we ended up with 18-20% interest rates and massive layoffs? That’s when that johnny paycheck satire came out with "…wish I had a job to shove.."

I seem to remember the double-digit interest rates occurring in the 78-82 timeframe.  That would have actually started in the Carter years and ended in the Reagan years.  One of the prime reasons Carter did not get re-elected (plus the whole Iran fiasco). — Todd Stephens

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It doesn’t bother you a bit that Clinton broke the law?  The Rich pardon doesn’t make you think twice about Clinton?  Do you give Clinton for the current economic conditions, since clearly, the economic "bubble" was created under Clinton? Does it not bother you that the fine leadership under Clinton was puncuated by an impeachment?  Doesn’t it concern you at all that even Robert Byrd stated that Clinton was "clearly guilty of high crimes and misdemeanors" (even though Byrd fell in line voting against impeachment)? As Ann Coulter put it, when Clinton was in office, the weather was good.  So what?  Bush is in office and the weather is bad.  Did Clinton BRING us the good weather, did Bush BRING us the bad weather?  Of course not. – Hide quoted text — Show quoted text – I don’t like this current President.  He is too conservative, and he is in bed with big business, and is a child of wealth and privilege. Showing bias or predjudice against someone just because he "is different" or "doesn’t think like you" is not a good thing. Neither is discrimination based on a person’s economic status or birth situation. Irv True, but not liking someone is okay, because we all have a vote.  Have you actually listened to this guy speak?  He makes up words, sounds like he is on a high school debating team (and a poor one at that).  He is extremely conservative on almost every issue that comes up, and I can predict his stance on almost any issue.      And I am not "prejudiced" against people of wealth and privilege.  I just think that they don’t make the best presidents because they have a hard time relating to people like me.  Bill Clinton had a very modest upbringing, yet went on to become a Rhodes Scholar, a lawyer, and a president who presided over eight of the most peaceful and powerful years of our country.

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The classic question is "Are you better off now than you were four years ago?".

As a matter of fact, yeah, I am.  Oh, I’ve dropped a few grand in the market ~ 50% of my portfolio, but who’s counting.  You have to remember, a bulk of the stock markets overvaluation happened during the Clinton years (not that he was to blame for that), as well as the corporate fraud that was happening many years ago.  It just so happened that the bubble burst in these years. Oh what would you say about Gore if he were elected? — Paul A. Thomas, CPA Athens,  Georgia http://www.pat-cpa.com

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- Hide quoted text — Show quoted text – I don’t see where Clinton’s actions caused the options problem. He doesn’t have the capacity to pass legislation. But he sets monetary policy? Sure, courtesy of uncle Milton. He sets monetary policy by deciding how much to print, influencing how much money is spent (pocket veto) and on what, and a host of other administrative decisions affecting how our money is traded overseas.

The central bank doesn’t exactly print it, they issue debt and adjust the bank loan rate.  They do have to monetize the $6 plus trillion of national debt though.  Treasury accounting is a world on to itself. Almost all accountants who haven’t worked for the Treasury don’t understand it. Had to study it in my econ and international accounting classes. Remember how Reagan indulged Milton Friedman by making money growth grow at a consistent rate in the early 80’s, by restricting its growth, and we ended up with 18-20% interest rates and massive layoffs? That’s when that johnny paycheck satire came out with "…wish I had a job to shove.."

The 19-20 was during the Carter Administration.  Remember, Democrats consider inflation good, Republicans consider inflation bad.  It is one of those rules of life.  I once had a Senior Auditor spend two hours explaining to me why a condition of no inflation was bad for the economy.  Van Morrison would have made more sense. — *             Ronald Lee Todd M.B.A., C.P.A.                  * *  Unemployed for six years, mistake of being an accountant.  * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

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I don’t like this current President.  He is too conservative, and he is in bed with big business, and is a child of wealth and privilege. Showing bias or predjudice against someone just because he "is different" or "doesn’t think like you" is not a good thing. Neither is discrimination based on a person’s economic status or birth situation. Irv

True, but not liking someone is okay, because we all have a vote.  Have you actually listened to this guy speak?  He makes up words, sounds like he is on a high school debating team (and a poor one at that).  He is extremely conservative on almost every issue that comes up, and I can predict his stance on almost any issue.      And I am not "prejudiced" against people of wealth and privilege.  I just think that they don’t make the best presidents because they have a hard time relating to people like me.  Bill Clinton had a very modest upbringing, yet went on to become a Rhodes Scholar, a lawyer, and a president who presided over eight of the most peaceful and powerful years of our country.

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I don’t think so. It’s the republican party been pushing spending and raising the debt limit, just like it did during Reagan’s years. That increases the amount of money going to bonds and makes them more attractive than equity’s, which are relatively cheap for obtaining loans as opposed to bonds.

? Debt usually carries a lower cost of capital than equity, especially with interest rates at their current levels. — Todd Stephens

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I don’t see where Clinton’s actions caused the options problem. He doesn’t have the capacity to pass legislation.

But he sets monetary policy? — Todd Stephens

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- Hide quoted text — Show quoted text – I think the public accountants were just going along with Bill’s ‘it depends on what you mean by "is" ‘ I think the two years that were lost in the impeachment fiasco will come back to haunt us for years to come. The partisans on both sides are already engaged in a verbal civil war of sorts. Great post, BTW,  Pat D. I agree. I’d like to ask if you remember a news announcer on CNN saying just before he Repubs took over Congress in 1995 saying they might try to get back at the dems for Watergate, sort of tit for tat.

Maybe he had insider info pd wpf

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… Remember, options were the result of Clinton’s ‘92 tax actions. Options existed long, long before this.

Yes, but not the growth in the use of options to the point that happened after ‘92. It was that growth that caused the present symptom and the cause was the ‘92 act. As far as the corporate actions, the CEO’s were just following Bill & Al’s leadership. Oh, really???  Did you read this in a poll somewhere?

No, I think the behavior is apparent and obvious.  Most of our "prominent people" are not leaders these days, they are high priced lemmings.  They are extremely sensitive to others and rapidly adjust their behaviors to follow the "opinion leaders." I think the public accountants were just going along with Bill’s ‘it depends on what you mean by "is" ‘ I don’t like this current President.  He is too conservative, and he is in bed with big business, and is a child of wealth and privilege.

I imagine you dislike a lot of people.  Heck my two Democratic Senators hate just about everybody in the state. Boxer doesn’t even feign liking us.  We all trash to here highness.  The dislike of all us common people seems to be a requirement to be a member of the Democratic party these days, after all that is where all the better people are. Bush is not conservative.  That is why you have that Education Bill that won’t educate and Election Reform which won’t, plus the rest of the marxist inspired garbage. The only people who would consider Bush conservative are the marxists. — *             Ronald Lee Todd M.B.A., C.P.A.                  * *  Unemployed for six years, mistake of being an accountant.  * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

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Uh…. You are not either prejudiced nor discriminating against them because you don’t like them. You are only discriminating in a legal sense if you deny them equal opportunity. You cannot discriminate against politicians or entertainers. They put themselves out there to be liked or disliked. To express an opinon as mr or mrs miller did about our esteemed (Hack-Hack) CEO in Chief is all that IS GOOD with America.

– Hide quoted text — Show quoted text – I don’t like this current President.  He is too conservative, and he is in bed with big business, and is a child of wealth and privilege. Showing bias or predjudice against someone just because he "is different" or "doesn’t think like you" is not a good thing. Neither is discrimination based on a person’s economic status or birth situation. Irv

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I don’t like this current President.  He is too conservative, and he is in bed with big business, and is a child of wealth and privilege.

Showing bias or predjudice against someone just because he "is different" or "doesn’t think like you" is not a good thing. Neither is discrimination based on a person’s economic status or birth situation. Irv

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– Hide quoted text — Show quoted text – Maybe…What I can’t understand is why so many people voted for this C-student rich boy.  He obviously got everything he has because of his father, and his father wasn’t great.  I remember Bush the 41st as "War and Recession", and now we’ve got "War and Recession" with Bush the 43rd. No matter what a president did or didn’t do, he’s going to be remembered for what happened during his watch.  The classic question is "Are you better off now than you were four years ago?".  With Bush the 41st, that question for most was answered "No", and I feel it’s going to be answered the same way when this Bush’s four-year tenure is over. He’s a product of wealth and privilege, and both he AND VP Cheney were businessmen dealing with oil.  They love big business and the wealthy, as is evidenced by their attempt to repeal the estate taxes.  He comes across as very conservative, and I have a feeling if he had his way every Supreme Court Justice would be a clone of Scalia.  I didn’t like Bush the 41st either, but at least he didn’t make up words, as I recall. I think most voted because they understood exactly what the Gore program was, and is. Remember, options were the result of Clinton’s ‘92 tax actions.

Options existed long, long before this. As far as the corporate actions, the CEO’s were just following Bill & Al’s leadership.

Oh, really???  Did you read this in a poll somewhere? I think the public accountants were just going along with Bill’s ‘it depends on what you mean by "is" ‘

I don’t like this current President.  He is too conservative, and he is in bed with big business, and is a child of wealth and privilege.

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– Hide quoted text — Show quoted text – Maybe…What I can’t understand is why so many people voted for this C-student rich boy.  He obviously got everything he has because of his father, and his father wasn’t great.  I remember Bush the 41st as "War and Recession", and now we’ve got "War and Recession" with Bush the 43rd.  No matter what a president did or didn’t do, he’s going to be remembered for what happened during his watch.  The classic question is "Are you better off now than you were four years ago?".  With Bush the 41st, that question for most was answered "No", and I feel it’s going to be answered the same way when this Bush’s four-year tenure is over. He’s a product of wealth and privilege, and both he AND VP Cheney were businessmen dealing with oil.  They love big business and the wealthy, as is evidenced by their attempt to repeal the estate taxes.  He comes across as very conservative, and I have a feeling if he had his way every Supreme Court Justice would be a clone of Scalia.  I didn’t like Bush the 41st either, but at least he didn’t make up words, as I recall. I think most voted because they understood exactly what the Gore program was, and is.

Well the facts are that most people voted for Gore. Remember, options were the result of Clinton’s ‘92 tax actions.

Clinton did not become president till sometime in January 1993 As far as the corporate actions, the CEO’s were just following Bill & Al’s leadership.

I don’t to sound like a democratic party mouthpiece  but all the deregulation that made it all this mess possible was advocated mainly by republicans in the "Contract with America". Several democrats most notably Lieberman also went along. All the following were republican initiatives: the securities litigation act, which Clinton vetoed btw, the elimination of CFTC oversight of energy trading companies, the repeal of Glass Stiegel, the underfunding of the SEC,  blocking attempts by the former SEC chairman Levine. I think the public accountants were just going along with Bill’s ‘it depends on what you mean by "is" ‘

I think the two years that were lost in the impeachment fiasco will come back to haunt us for years to come. The partisans on both sides are already engaged in a verbal civil war of sorts. – Hide quoted text — Show quoted text – *             Ronald Lee Todd M.B.A., C.P.A.                  * *  Unemployed for six years, mistake of being an accountant.  * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

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The bush stock market crash continues… Dow is down 406 for the day…. George Bush is now successfully destroying the US ecomomy…..

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The bush stock market crash continues… Dow is down 406 for the day…. George Bush is now successfully destroying the US ecomomy…..

Were you going to give him credit if the market went up? I’ve never determined that any sitting President had a significant impact on the stock market.  Stocks are down for a variety of reasons, one being that they were more inflated than Clinton’s…..errrr…..ego. — Paul A. Thomas, CPA Athens,  Georgia http://www.pat-cpa.com

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Maybe…What I can’t understand is why so many people voted for this C-student rich boy.  He obviously got everything he has because of his father, and his father wasn’t great.  I remember Bush the 41st as "War and Recession", and now we’ve got "War and Recession" with Bush the 43rd.  No matter what a president did or didn’t do, he’s going to be remembered for what happened during his watch.  The classic question is "Are you better off now than you were four years ago?".  With Bush the 41st, that question for most was answered "No", and I feel it’s going to be answered the same way when this Bush’s four-year tenure is over. He’s a product of wealth and privilege, and both he AND VP Cheney were businessmen dealing with oil.  They love big business and the wealthy, as is evidenced by their attempt to repeal the estate taxes.  He comes across as very conservative, and I have a feeling if he had his way every Supreme Court Justice would be a clone of Scalia.  I didn’t like Bush the 41st either, but at least he didn’t make up words, as I recall.

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The bush stock market crash continues… Dow is down 406 for the day…. George Bush is now successfully destroying the US ecomomy….. Were you going to give him credit if the market went up? I’ve never determined that any sitting President had a significant impact on the stock market.  Stocks are down for a variety of reasons, one being that they were more inflated than Clinton’s…..errrr…..ego.

I still say, that if Daschel hadn’t blocked the tax relief that Bush proposed, the market would still be in growth mode. For those  few who don’t know this, the Democratic Party is committed the the principle that tax increases improve the economy as they drive people to work harder. — *             Ronald Lee Todd M.B.A., C.P.A.                  * *  Unemployed for six years, mistake of being an accountant.  * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

Response:

– Hide quoted text — Show quoted text – Maybe…What I can’t understand is why so many people voted for this C-student rich boy.  He obviously got everything he has because of his father, and his father wasn’t great.  I remember Bush the 41st as "War and Recession", and now we’ve got "War and Recession" with Bush the 43rd.  No matter what a president did or didn’t do, he’s going to be remembered for what happened during his watch.  The classic question is "Are you better off now than you were four years ago?".  With Bush the 41st, that question for most was answered "No", and I feel it’s going to be answered the same way when this Bush’s four-year tenure is over. He’s a product of wealth and privilege, and both he AND VP Cheney were businessmen dealing with oil.  They love big business and the wealthy, as is evidenced by their attempt to repeal the estate taxes.  He comes across as very conservative, and I have a feeling if he had his way every Supreme Court Justice would be a clone of Scalia.  I didn’t like Bush the 41st either, but at least he didn’t make up words, as I recall.

I think most voted because they understood exactly what the Gore program was, and is. Remember, options were the result of Clinton’s ‘92 tax actions. As far as the corporate actions, the CEO’s were just following Bill & Al’s leadership. I think the public accountants were just going along with Bill’s ‘it depends on what you mean by "is" ‘ — *             Ronald Lee Todd M.B.A., C.P.A.                  * *  Unemployed for six years, mistake of being an accountant.  * *   Students, when someone tells you of your great future as  * *       an accountant, ask him to show you the job.           *

Response:

Question:

Hey guys, I wasn’t sure where to get advice for this so I thought I’d pester you guys I’m a new business owner (as of late Sept) and am preparing to take on my first batch of inventory, and I’m not sure how to record it, especially in regards to COGS, in the books. When I put the cost down, does the cost of shipping get included into the cost of the item somehow? Or do I record the cost of the shipping and the inventory as separate items? Any advice you could give would be helpful. Thanks!

Response:

Hey guys, I wasn’t sure where to get advice for this so I thought I’d pester you guys I’m a new business owner (as of late Sept) and am preparing to take on my first batch of inventory, and I’m not sure how to record it, especially in regards to COGS, in the books. When I put the cost down, does the cost of shipping get included into the cost of the item somehow? Or do I record the cost of the shipping and the inventory as separate items? Any advice you could give would be helpful.

My advice is that you hire a local accounting/tax professional who specializes in small businesses. A CPA would be ideal. There are many issues besides recording inventory that you need to address BEFORE the end of your first tax year. Regards, Bill

Response:

- Hide quoted text — Show quoted text – Hey guys, I wasn’t sure where to get advice for this so I thought I’d pester you guys I’m a new business owner (as of late Sept) and am preparing to take on my first batch of inventory, and I’m not sure how to record it, especially in regards to COGS, in the books. When I put the cost down, does the cost of shipping get included into the cost of the item somehow? Or do I record the cost of the shipping and the inventory as separate items? Any advice you could give would be helpful. My advice is that you hire a local accounting/tax professional who specializes in small businesses. A CPA would be ideal. There are many issues besides recording inventory that you need to address BEFORE the end of your first tax year.

As best I can recall without doing any research,  the cost of inventory can include the cost of inbound shipping (landed cost). I strongly agree with Bill.  You need a small business accountant. — Jim Hudspeth, CFE, CPA http://survivalworks.com Washington, USA

Response:

"DITTO" Peter

Response:

Peter has the right idea, for simplistic sake.  I tend to expense freight, but put it as a COGS "expense" part of the income statement.  but as everyone else has mentioned, if you are having issued with this, you are in for some very long nights if you try to do this alone with little or no bookkeeping background. andrew accountant

Response:

Question:

I would agree with your CPA that incorporation to limit liability is a wise move.  If you own several properties then your risk increases for each property owned.  If someone is injured on your property they can, (and unfortunately probably will), sue you for damages.  It could be something as simple as falling on the ice at 3 am after drinking at the bar.  Don’t laugh they could actually win.  In cases like this they would sue everybody to cover their bases.  For example someone that falls at the mini mall will sue the store, the mall owners, etc.  They sue to find the deepest pocket and because they don’t know who has the responsibility for keeping the drive way and walks paved.  By suing everyone they get access to the contracts discussing these arrangements and then go after the deepest pocket by finding any loophole in those contracts. Because they will sue everyone simply having the Corp rent the property from you and then re-renting it would still not protect you from this specific liability.  My recommendation is to move all of the property into the company and divide the shares of the company between you and your mother in a fashion equal to your current equity holdings.  In addition I would also recommend evaluating an LLC versus a Sub-S.  The LLC is much newer and has become very popular for real estate holdings.  They both provide the same tax and liability benefits.  Check with your CPA and attorney for more details on the differences between the two.  The cost to prepare the LLC papers should be $500 to $1,000 at most.  You accounting fees should not go up substantially as a result because the CPA is already preparing your returns based on your current holdings. I feel strongly that you may wish to give this serious consideration and discuss it further with your CPA and mother. HTH Don Regards, Donald A Haney, MBA Emergency Care Specialists, PC "Learning occurs in the mind, independent of time and place." – Plato

– Hide quoted text — Show quoted text – I have quite a few rental properties that I jointly owned with my mother.  This year when our CPA did our return, she suggested us to incoporate in S-Corp to limit personal liability.  She said we could just use s-corp as a simple pass-through entity.  Have S-Corp rent the real properties from us, then S-Corp rent out these properties to tenants.  I though I understood at the time, but later on when I thought about it, I am not very clear on this strategy.  I will have a meeting with her again to discuss this more, but I would like to get a second opinion on this pratice.  She explained how to handle income (rent), but how do we handle expenses, salary, and other distribution? How would that impact our personal tax and S-Corp tax. Thanks, JQF Before you buy. My first thought on something like this the old saying "if it ain’t broke, don’t fix it". Are you concerned about personal liability and have you been expressing this to your CPA. Also what is the general risk level in this business and your specific risk. Have you talked with a lawyer about you concerns and explored other avenues for limiting your risk (particularly insurance)? The S Corp may be the best solution but it will come at a cost to you. There will be cost to set up the Corp, cost to prepare the annual corporate tax return (that will usually be more than the cost of you current return) and in some states you will pay corporate and/or franchise taxes that you don’t pay now. Also you will need to maintain stock records, have meetings and maintain minutes of those meetings or run the risk of losing the liability protection you may be looking for.

Response:

To add to Karl’s excellent advice:  If you have debt related to those properties and the debt is in your name (or your monther’s or both) then you might consider an LLC in lieu of an S corp.  With an LLC, which the Feds will treat as a partnership, the debt on those properties would be included in your basis.  Not so with an S corp.  At least that is my understanding. This is something to discuss with your CPA anyway. Dick K.

– Hide quoted text — Show quoted text – I have quite a few rental properties that I jointly owned with my mother.  This year when our CPA did our return, she suggested us to incoporate in S-Corp to limit personal liability.  She said we could just use s-corp as a simple pass-through entity.  Have S-Corp rent the real properties from us, then S-Corp rent out these properties to tenants.  I though I understood at the time, but later on when I thought about it, I am not very clear on this strategy.  I will have a meeting with her again to discuss this more, but I would like to get a second opinion on this pratice.  She explained how to handle income (rent), but how do we handle expenses, salary, and other distribution? How would that impact our personal tax and S-Corp tax. Thanks, JQF Before you buy. My first thought on something like this the old saying "if it ain’t broke, don’t fix it". Are you concerned about personal liability and have you been expressing this to your CPA. Also what is the general risk level in this business and your specific risk. Have you talked with a lawyer about you concerns and explored other avenues for limiting your risk (particularly insurance)? The S Corp may be the best solution but it will come at a cost to you. There will be cost to set up the Corp, cost to prepare the annual corporate tax return (that will usually be more than the cost of you current return) and in some states you will pay corporate and/or franchise taxes that you don’t pay now. Also you will need to maintain stock records, have meetings and maintain minutes of those meetings or run the risk of losing the liability protection you may be looking for.

Response:

I think your accounting adviser ought to have referred you to an attorney specializing in corporate structure. I attended a CPE class last Fall in which this was discussed. Since there may be estate tax implications as well as corporate implications, a macro-strategy is required. Plus, respondents are correct in suggesting that no impenetrable corporate-veil exists. Unless it is legally substantive, simple re-organizing debits and credits from one set of books to another has no meaning, and would easily be "pierced" by any contingent-fee attorney who knows his business. So consider ANY suggestion only after the largest of over-views, keeping in mind that the cumulative tax burden extends-alas!-sometimes beyond this life to our estates.

Response:

A lawyer would be more able to cover and explain any ramifications. If appropriate in your state and your circumstances, using a LLC or LLP would be simpler and possibly a better alternative. Usually, insurance and adequately written leases suffice to provide the comfort you seek. – Hide quoted text — Show quoted text – I have quite a few rental properties that I jointly owned with my mother.  This year when our CPA did our return, she suggested us to incoporate in S-Corp to limit personal liability.  She said we could just use s-corp as a simple pass-through entity.  Have S-Corp rent the real properties from us, then S-Corp rent out these properties to tenants.  I though I understood at the time, but later on when I thought about it, I am not very clear on this strategy.  I will have a meeting with her again to discuss this more, but I would like to get a second opinion on this pratice.  She explained how to handle income (rent), but how do we handle expenses, salary, and other distribution? How would that impact our personal tax and S-Corp tax. Thanks, JQF Before you buy.

Response:

I would agree with the other responses. An S-corp. would not limit your liability if the building was not also transfered to the S-corp. If this is the type of liability you are concerned with I would say adequate insurance would be your answer. If the liability you are referring to is creditors/suppliers then an S-corp would be one solution but I don’t think it would be the best. If your properties are throwing off losses you may end up with a basis problem in the S-corp. Also an S-corp. has very strict distribution rules that may not fit into your planning. I would suggest an LLC which would limit your liability but allow for much more flexibility. I do however disagree with a point made on a previous response in that your tax fees will not increase. Your tax fees will increase as both an S-corp or an LLC requires an additional return to prepare. Hope this helps. – Hide quoted text — Show quoted text – I have quite a few rental properties that I jointly owned with my mother.  This year when our CPA did our return, she suggested us to incoporate in S-Corp to limit personal liability.  She said we could just use s-corp as a simple pass-through entity.  Have S-Corp rent the real properties from us, then S-Corp rent out these properties to tenants.  I though I understood at the time, but later on when I thought about it, I am not very clear on this strategy.  I will have a meeting with her again to discuss this more, but I would like to get a second opinion on this pratice.  She explained how to handle income (rent), but how do we handle expenses, salary, and other distribution? How would that impact our personal tax and S-Corp tax. Thanks, JQF Before you buy.

Response:

I have quite a few rental properties that I jointly owned with my mother.  This year when our CPA did our return, she suggested us to incoporate in S-Corp to limit personal liability.  She said we could just use s-corp as a simple pass-through entity.  Have S-Corp rent the real properties from us, then S-Corp rent out these properties to tenants.  I though I understood at the time, but later on when I thought about it, I am not very clear on this strategy.  I will have a meeting with her again to discuss this more, but I would like to get a second opinion on this pratice.  She explained how to handle income (rent), but how do we handle expenses, salary, and other distribution? How would that impact our personal tax and S-Corp tax. Thanks, JQF Before you buy.

Response:

- Hide quoted text — Show quoted text – I have quite a few rental properties that I jointly owned with my mother.  This year when our CPA did our return, she suggested us to incoporate in S-Corp to limit personal liability.  She said we could just use s-corp as a simple pass-through entity.  Have S-Corp rent the real properties from us, then S-Corp rent out these properties to tenants.  I though I understood at the time, but later on when I thought about it, I am not very clear on this strategy.  I will have a meeting with her again to discuss this more, but I would like to get a second opinion on this pratice.  She explained how to handle income (rent), but how do we handle expenses, salary, and other distribution? How would that impact our personal tax and S-Corp tax. Thanks, JQF Before you buy.

My first thought on something like this the old saying "if it ain’t broke, don’t fix it". Are you concerned about personal liability and have you been expressing this to your CPA. Also what is the general risk level in this business and your specific risk. Have you talked with a lawyer about you concerns and explored other avenues for limiting your risk (particularly insurance)? The S Corp may be the best solution but it will come at a cost to you. There will be cost to set up the Corp, cost to prepare the annual corporate tax return (that will usually be more than the cost of you current return) and in some states you will pay corporate and/or franchise taxes that you don’t pay now. Also you will need to maintain stock records, have meetings and maintain minutes of those meetings or run the risk of losing the liability protection you may be looking for.

Response:

Question:

I’m not going to lecture you on academic ethics and usenet:  I’ll assume that this post is equivalent to brainstorming with your fellow students, but your study technique sucks:  if this is an exam question there MUST be a section in your standard textbook or a lecture dealing with the issue at this basic level, which will tell you exactly what the examiners are after. I’ve listed some points below. The extent of difference will depend on what country you’re in.  You should have told us that instead of us having to deduce UK from your message headers. You’ll probably get more value out of your review if you look at the second part of the question first, because that’s in some part, WHY the accounting processes are different.

Hi, i am just going thorugh some exam papers and need some help, i am really gratefull if you can help me, any pointers at all the questin is: 7 (a) Discuss the extent to which public sector accounting differs from private sector company accounting

statutory basis different accounting standards accrual vs cash crown indivisible/capital asset valuation/accuracy provisions revenue/treatment of revenue   (b) ‘in profit oriented organisations the amount of profit provides a ready made measure of performance. In many public sector organisations, however the absence of suitable output measurements make performance evaluation much more difficult." Discuss

On one level, I disagree:  you do performance measurement and performance evaluation in commercial corporations because mere financial performance is an inadequate basis for planning and development, and inadequately informs proprietors about the well-being and prospects of the corporation. The question also implies that profit is the only ’suitable output measurement’, or else that, somehow performance measures for government programs are difficult or impossible to produce.  While many interested parties have a stake in challenging performance measures, they can be produced and validly and reliably interpreted. Also note that even for commercial entities, profit is not the only financial that is relevant:  capital growth and/or share value are increasingly recognised as vital bottom line measures But the conventional answer would include these considerations: *    multiple ’social goods’ produced, which may be ‘public goods’, but which in any case can’t all be reliably reduced to monetary value     –    valuation problematic     –    valuation excessively costly to perform     –    in any case the valuations of the goods aren’t ‘commensurable’, that is they can’t validly be aggregated by simple addition, or balanced against one another or against the inputs/costs *    highly complex policy interactions can produce unintended consequences or disbenefits which should be accounted for, but aren’t because of:     –    difficulty of measurement     –    political unacceptability of acknowledgment of their existence *    civil servants and government resists quantitive reporting that will make them accountable Regards John

Response:

Hi, i am just going thorugh some exam papers and need some help, i am really gratefull if you can help me, any pointers at all the questin is: 7 (a) Discuss the extent to which public sector accounting differs from private sector company accounting   (b) ‘in profit oriented organisations the amount of profit provides a ready made measure of performance. In many public sector organisations, however the absence of suitable output measurements make performance evaluation much more difficult." Discuss Thank you

Response:

Time to do your own homework, bubba

– Hide quoted text — Show quoted text – Hi, i am just going thorugh some exam papers and need some help, i am really gratefull if you can help me, any pointers at all the questin is: 7 (a) Discuss the extent to which public sector accounting differs from private sector company accounting   (b) ‘in profit oriented organisations the amount of profit provides a ready made measure of performance. In many public sector organisations, however the absence of suitable output measurements make performance evaluation much more difficult." Discuss Thank you

Response:

Question:

Do not buy one unless your bank account can stand the pressure. They are a bit like boats, a bottomless pit for much needed funds and they keep you poor. Unless you do around 100 hrs per year, which is two hours every week, then you may find the cost of ownership is more than hiring when you need to. But buy one if you can afford it, everyone likes to talk to someone who owns a plane even an old dunger. A better status symbol than a BMW! – Hide quoted text — Show quoted text – The best advice that I can give is get something that is the right size for your needs.  If flying solo is your primary goal a Cessna 150 might be the answer, and I have found that the Cherokee 140’s to be a good route to go as well except that because they are a four seater, do not think that you can take four people.  It is very easy to overload the Cherokee’s.  ALWAYS before buying make sure that you get a pre purchase inspection done by a qualified Mechanic.  Second make sure that ALL of the TECHNICAL LOGs are complete right from the day it was put in the sky to make sure that all AD’s were done and that there is no damage history. Third take a look at the journey log to make sure that the plane has not sat for a long time without runing, as this is really hard on everything.  When it comes to engines adjust the price accordingly to the amount of time on the engine.  A plane with 200 SMOH is going to be considerably more than a plane that has 1900 smoh.  The plane with 1900 smoh is close to ready for a new engine costing up to the 15000 dollar range.  VERY IMPORTANT!! I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper. Any feedback would be appeciated, but here are some of the questions I have so far: Has anyone here ever bought a plane registered in Canada (never issued an N-number)? How does one find a reliable A&P mechanic outside their local region? How much stock should one place in the BlueBook value? What are some things one should look for in the logs? Any recommendations on a "how-to" book for finding a good used plane? Is it better to buy from a broker, dealer, or private owner? Has anyone ever made money/broken-even on a lease-back? Are there non-obvious costs associated with owning a plane (excluding insurance, fuel, engine reserves, annuals, tie-down fees)? How close can you normally get to TBO before you have to, well, overhaul. Are their any features a private owner should pay special attention to (STCs, NDH,  factory reman’d engine…)? Is it possible to bargain down from the list price? Should you try? Are there regions of the country you should avoid purchasing a plane from (due to weather conditions)…etc, etc… Thanks In Advance! Bill What type of flying are you planing on doing?  How many people do you plan on carrying?  Are you instrument rated?   The bottom line is you need to determine what how you use the plane and then get a plane suited to your needs. Jerry

Response:

One thing which might save you a few bucks, especially if the plane is out of state.  Tell the person who is doing the inspection to first do a quick one hour look around the plane.  That for sure will allow him/her to see if it’s basically sound.  I just spent over $250 and they listed every squawk they could think of.  I could care less about every squawk if the basic plane is sloppy, has oil leaks, etc.  If it looks OK in the first hour, then you can have them do the rest.  Most get paid by the hour, one hour or two minimum.  You may have to look at a few before you get the one you want.  And-trust me I have been there-spend a few thousand more to get what you need.  Avionics can add up to a good ten grand, and an engine overhaul is a good 10-15,000.  So, newer radios and low time on the engine, assuming a good overhaul is very much worth the extra bucks, even if you are streching a little.  You will get it back later. Good luck! – Hide quoted text — Show quoted text -All the other posts contain good advice. My one suggestion is after you have done all the research about types and models etc. and are ready to make a deal. Make sure that a complete annual inspection is done on the plane before you buy. You will need to negotiate with the seller who will pay how much for this service, but this is the only way to really find out what you are getting especially with the age of the aircraft fleet. A prebuy inspection is a good idea to see if you want to go forward with the annual. Take it from someone whose wallet was scorched by just doing a pre-buy. I have also had some experience with leaseback email me for moreinfo on that, Jim says… Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper.

Response:

The best advice that I can give is get something that is the right size for your needs.  If flying solo is your primary goal a Cessna 150 might be the answer, and I have found that the Cherokee 140’s to be a good route to go as well except that because they are a four seater, do not think that you can take four people.  It is very easy to overload the Cherokee’s.  ALWAYS before buying make sure that you get a pre purchase inspection done by a qualified Mechanic.  Second make sure that ALL of the TECHNICAL LOGs are complete right from the day it was put in the sky to make sure that all AD’s were done and that there is no damage history. Third take a look at the journey log to make sure that the plane has not sat for a long time without runing, as this is really hard on everything.  When it comes to engines adjust the price accordingly to the amount of time on the engine.  A plane with 200 SMOH is going to be considerably more than a plane that has 1900 smoh.  The plane with 1900 smoh is close to ready for a new engine costing up to the 15000 dollar range.  VERY IMPORTANT!! – Hide quoted text — Show quoted text -I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper. Any feedback would be appeciated, but here are some of the questions I have so far: Has anyone here ever bought a plane registered in Canada (never issued an N-number)? How does one find a reliable A&P mechanic outside their local region? How much stock should one place in the BlueBook value? What are some things one should look for in the logs? Any recommendations on a "how-to" book for finding a good used plane? Is it better to buy from a broker, dealer, or private owner? Has anyone ever made money/broken-even on a lease-back? Are there non-obvious costs associated with owning a plane (excluding insurance, fuel, engine reserves, annuals, tie-down fees)? How close can you normally get to TBO before you have to, well, overhaul. Are their any features a private owner should pay special attention to (STCs, NDH,  factory reman’d engine…)? Is it possible to bargain down from the list price? Should you try? Are there regions of the country you should avoid purchasing a plane from (due to weather conditions)…etc, etc… Thanks In Advance! Bill What type of flying are you planing on doing?  How many people do you plan on carrying?  Are you instrument rated?   The bottom line is you need to determine what how you use the plane and then get a plane suited to your needs. Jerry

Response:

I gained a great deal from a video prior to purchasing my Arrow.  It’s entitled:  Aircraft Buying Advice From The Experts.  It’s published by Lanier Media Video Productions, 315 S. Main St., Kannapolis, NC  28081.  I can’t remember where I bought it, but it was really informative.  I’m looking at the box right now, and it basically has the advice of 10 people, including operations, sales, appraising, financing, tax accounting, maintenance, avionics, documentation and insurance.  There was a short section on the tape by Phil Boyer, with the AOPA.  They might be a source to get the video. – Hide quoted text — Show quoted text – Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper. Any feedback would be appeciated, but here are some of the questions I have so far: Has anyone here ever bought a plane registered in Canada (never issued an N-number)? How does one find a reliable A&P mechanic outside their local region? How much stock should one place in the BlueBook value? What are some things one should look for in the logs? Any recommendations on a "how-to" book for finding a good used plane? Is it better to buy from a broker, dealer, or private owner? Has anyone ever made money/broken-even on a lease-back? Are there non-obvious costs associated with owning a plane (excluding insurance, fuel, engine reserves, annuals, tie-down fees)? How close can you normally get to TBO before you have to, well, overhaul. Are their any features a private owner should pay special attention to (STCs, NDH,  factory reman’d engine…)? Is it possible to bargain down from the list price? Should you try? Are there regions of the country you should avoid purchasing a plane from (due to weather conditions)…etc, etc… Thanks In Advance! Bill

Response:

All the other posts contain good advice. My one suggestion is after you have done all the research about types and models etc. and are ready to make a deal. Make sure that a complete annual inspection is done on the plane before you buy. You will need to negotiate with the seller who will pay how much for this service, but this is the only way to really find out what you are getting especially with the age of the aircraft fleet. A prebuy inspection is a good idea to see if you want to go forward with the annual. Take it from someone whose wallet was scorched by just doing a pre-buy. I have also had some experience with leaseback email me for moreinfo on that, Jim says… – Hide quoted text — Show quoted text -Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper.

Response:

- Hide quoted text — Show quoted text – Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper. —- Snip —- Also consider contacting whatever owner & pilots’ clubs associated with whatever plane you are inrterested in. For example there is the Cessna Pilots’ Association at http://www.cessna.org/  They publish buyer’s guides for several popular models. I am sure that Piper, Mooney and others have user groups. Other web sites of interest are:

Before we bought the Navion we talked to A LOT of Navion owners and bought the booklet "How to buy a Navion".  I think we avoided a number of problems in doing so. Margy

Response:

First question to ask is if what you want is available for rent. Trust me, rentals represent pennies on the dollar as compared to owning. As the saying goes, "If it flys, floats of fucks, *rent it*."

Unless, of course, what you desire is not available for rent, or you choose not to share it with anyone with the rental fee!   John

Response:

Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper.

There is a good book you might look for called "Purchasing and Evaluating Airplanes" by Brian Johnson that goes into the kind of details that you are looking for.  It is probably available from the net or trade-a-plane if you look for it. Regards Tom

Response:

Greetings, I read this book cover to cover several times and found it invaluable. With it as my guide, and AOPA handling the details, I bought a Cherokee 180 — yesterday!   Just waiting for the ferry pilot and decent weather in Seattle! Good Luck! Rick – Hide quoted text — Show quoted text – Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper. There is a good book you might look for called "Purchasing and Evaluating Airplanes" by Brian Johnson that goes into the kind of details that you are looking for.  It is probably available from the net or trade-a-plane if you look for it. Regards Tom

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I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper.

Check out http://www.avweb.com Its an excellent site and has a section on buying used aircraft. Michael. Grumman Cheetah C-GRCC Michael Gillespie                                |  Voice/Fax 204.943.9000 —- No good deed will go unpunished. —– Standard Disclaimers Apply —

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Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper.

—- Snip —- Bill – Well, you’ve completed the first step: understanding that it is a complex problem and that you need help & advice. I am also looking for my first. I have gotten a lot of good information from the following book:         PURCHASING & EVALUATING AIRPLANES         by Brian M. Jacobson, 1997         Odyssey Aviation Publications         P.O. Box 785         Union Lake, MI  48387                 ISBN No.: 0-9653640-8-9                 $29.95 This is an easy to read book and it takes you through the entire process, including determining what kind of airplane is best suited to you, finding it, evaluating it, and all the inspection steps, paper work, etc., etc., etc. You probably have read Mr. Jacobson’s articles in Aviation Safety and Plane & Pilot. Also consider contacting whatever owner & pilots’ clubs associated with whatever plane you are inrterested in. For example there is the Cessna Pilots’ Association at http://www.cessna.org/  They publish buyer’s guides for several popular models. I am sure that Piper, Mooney and others have user groups. Other web sites of interest are: http://www.wingsonline.com/welcome.html http://aso.solid.com/ http://www.barnstormers.com/classify.html#index and of course the "bible":  http://www.landings.com Joiner Cartwright, Jr. Houston, Texas

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- Hide quoted text — Show quoted text – Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper. Any feedback would be appeciated, but here are some of the questions I have so far: Has anyone here ever bought a plane registered in Canada (never issued an N-number)? How does one find a reliable A&P mechanic outside their local region? How much stock should one place in the BlueBook value? What are some things one should look for in the logs? Any recommendations on a "how-to" book for finding a good used plane? Is it better to buy from a broker, dealer, or private owner? Has anyone ever made money/broken-even on a lease-back? Are there non-obvious costs associated with owning a plane (excluding insurance, fuel, engine reserves, annuals, tie-down fees)? How close can you normally get to TBO before you have to, well, overhaul. Are their any features a private owner should pay special attention to (STCs, NDH,  factory reman’d engine…)? Is it possible to bargain down from the list price? Should you try? Are there regions of the country you should avoid purchasing a plane from (due to weather conditions)…etc, etc… Thanks In Advance! Bill

First question to ask is if what you want is available for rent. Trust me, rentals represent pennies on the dollar as compared to owning. As the saying goes, "If it flys, floats of fucks, *rent it*." — Richard Glover –Watch the anti spam device! Get it?–

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Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper. Any feedback would be appeciated, but here are some of the questions I have so far: Has anyone here ever bought a plane registered in Canada (never issued an N-number)? How does one find a reliable A&P mechanic outside their local region? How much stock should one place in the BlueBook value? What are some things one should look for in the logs? Any recommendations on a "how-to" book for finding a good used plane? Is it better to buy from a broker, dealer, or private owner? Has anyone ever made money/broken-even on a lease-back? Are there non-obvious costs associated with owning a plane (excluding insurance, fuel, engine reserves, annuals, tie-down fees)? How close can you normally get to TBO before you have to, well, overhaul. Are their any features a private owner should pay special attention to (STCs, NDH,  factory reman’d engine…)? Is it possible to bargain down from the list price? Should you try? Are there regions of the country you should avoid purchasing a plane from (due to weather conditions)…etc, etc… Thanks In Advance! Bill

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– Hide quoted text — Show quoted text -Hello All, I am looking to buy my first plane and was wondering if anyone here has some advice for the totally clueless plane-shopper. Any feedback would be appeciated, but here are some of the questions I have so far: Has anyone here ever bought a plane registered in Canada (never issued an N-number)? How does one find a reliable A&P mechanic outside their local region? How much stock should one place in the BlueBook value? What are some things one should look for in the logs? Any recommendations on a "how-to" book for finding a good used plane? Is it better to buy from a broker, dealer, or private owner? Has anyone ever made money/broken-even on a lease-back? Are there non-obvious costs associated with owning a plane (excluding insurance, fuel, engine reserves, annuals, tie-down fees)? How close can you normally get to TBO before you have to, well, overhaul. Are their any features a private owner should pay special attention to (STCs, NDH,  factory reman’d engine…)? Is it possible to bargain down from the list price? Should you try? Are there regions of the country you should avoid purchasing a plane from (due to weather conditions)…etc, etc… Thanks In Advance! Bill

What type of flying are you planing on doing?  How many people do you plan on carrying?  Are you instrument rated?   The bottom line is you need to determine what how you use the plane and then get a plane suited to your needs. Jerry

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