Catherine Said:

If real estate is someone's source of income, what can be considered a business expense?

We Answered:

I claim everything. Since the rent you collect is income and you pay taxes on it you can claim most of your expenses....but not all.

Get yourself a good tax man, he will keep you out of trouble and help you make money.

Ricardo Said:

sample of internal assessment for IB Business and Management Studies, anyone?

We Answered:

assess output versus cost.

Zachary Said:

Can I start an non-profit org under my for-prof business?

We Answered:

It will take quite a while to establish a separate nonprofit entity, and it would have to be separate and completelly independent from your current business. You would have to register the organization as a nonprofit whose entire existence is to advance the purpose of the mission. You would not 'own' the nonprofit, it would be run by a Board of directors. To be eligible for grant or foundation funding, you would also have to apply for tax-exempt status from the IRS. You should take a look at the steps necessary to establish a nonprofit at The Foundation Center - foundationcenter.org - under the FAQS section of the "getting started' tab. As well, take a look at the IRS document, "Life Cycle of a Tax Exempt Organization, at the IRS website under the Charities tab.

However, the proposal states: NOTE: The required Learning in the Arts components may be provided in partnership with other organizations. The Arts Endowment strongly endorses the arts as a core academic subject area.

So find a school or academically based music related nonprofit in your area, and talk to them about partnering with them for this grant. It's your best (and possibly only) shot.

Dwayne Said:

is it possible to have an unwritten opportunity assessment but a written business plan?

We Answered:

Yes, it is possible, but not suggested. You would expect to see the opportunity assessment as part of a business plan. It details how your product or service meshes with the marketplace... for example, does the company offer something that the competition doesn't, does it offer a better product/service, is the marketplace underserved by your product/service.

If you plan to have others invest in the business, they will want to know that the opportunity actually does exist. You'd need to detail how you are certain that it does.