Q Is there a simple way to calculate the APR of some of these complex financing and capital realization offers that are on the market?

Knowing the true cost of financing is difficult enough for people involved in the financial world. Every restaurateur should have teammates who understand all the costs involved in financing. While a restaurateur should have a basic knowledge of the cost of financing, it is important to have a relationship with a bank or other financial institution as well as an attorney and accountant who can help the restaurateur sort through and understand the various options available and the cost of each.

The information given is provided for general, non-specific educational purposes only, and should not be relied upon as advice relating to your specific circumstances. For company-specific advice, consult directly with your tax advisor.

James Conniff is the Managing Partner at Bacall & Conniff, P.C., a full service CPA firm that provides industry specific accounting solutions for restaurateurs. Their services include: Weekly flash reports, Monthly financial statements, Web-accounting, Optional bookkeeping & payroll services, and Comprehensive tax & advisory services. They can be reached at 617-367-3250.

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