Laura Day’s Top Ten List – Number 3: Operational Improvements

  There are some things we see over and over that are really not in your best interest.  Here’s why: #3.       Remember the Board Game “Operation?” I played Operation all the time, and remember the commercial jingle well, can hear it in my head right now.  The challenge of pulling out every little

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Laura Day’s Top Ten List – Number 4: Personal or Business?

There are some things we see over and over that are really not in your best interest.  Here’s why: #4.       Commingling Personal and Business I can’t tell you the number of businesses we see where the individual principals have used their personal credit cards for corporate expenses.  This is not a good idea

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Laura Day’s Top Ten List – Number 5: Cash Flow

There are some things we see over and over that are really not in your best interest.  Here’s why: #5.       You Think  that Cash is Not Your King Large businesses, small businesses, individuals.  One thing remains the same:  cash flow.  The majority of our clients do not have a thorough and accurate grasp

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Laura Day’s Top Ten List – Number 6: Valuation

There are some things we see over and over that are really not in your best interest.  Here’s why: #6.       Value/Schmalue All estimates of value are really opinions—opinions of the owner, opinions of the lender, and expert opinions of appraisers based on recognized appraisal methods.  At the beginning of the “economic crisis” in

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Laura Day’s Top Ten List – Number 8: “Friends and Family” Plans

There are some things we see over and over that are really not in your best interest.  Here’s why: #8.        The “Friends and Family” Plan Although the telephone advertising of the “Friends and Family” plan is enticing, it should not be used for creditors.  Either borrowing outright from friends and family

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Laura Day’s Top Ten List – Number 9: Withholdings

There are some things we see over and over that are really not in your best interest.  Here’s why: #9.  Changing your withholdings to generate more quick cash We sometimes see individuals who have changed their withholding taxes by increasing deductions so that there is more take-home pay, which new-found cash is used

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Laura Day’s Top Ten List – Number 10: Retirement

There are some things we see over and over that are really not in your best interest.  Here’s why: #10.  Using your 401(k) retirement funds for creditors  The IRS tells you it is perfectly OK to “borrow” from yourself out of your retirement funds and pay it back later, even though there will

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Welcome!

We are a Lexington, KY based law firm which focuses on workouts, bankruptcy, and commercial litigation. We are dedicated to helping Kentuckians resolve debt related issues. Whether you are a small business owner struggling to keep the lights on, an individual that has too many credit card or medical bills,

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Getting Started – Number 3

Thanks for coming back!  We know our business clients are put off by how much information we ask for.  We’re not looking for more paper to sift through, we have just seen how what we don’t know can jump up and harm our clients.  Here are a few more examples:

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