what you would do in this scenario? You own a construction consulting company that you started two years ago by creating an LLC and funding it with $20,000 from your savings. You initially worked from an office in your home and have used the investment money plus profits to pay for office expenses, a company car that you leased for use only in the business, related auto expenses and travel expenses when you are out of town. You now have $40,000 in Retained Earnings. Each year, you have taken $100,000 in personal draws. The company owes $550/month for the 18 months remaining on the three-year car lease, spends about $600 each month for related car expenses, $6,000 average per month for travel that is fully reimbursed by the client, and has $30,000 cash. The company leases space in a flexible office space location for $1,000 month (5-year lease, you have 4 years remaining; it includes all office equipment and supplies) and you hired a personal assistant who is in the office Monday through Friday. The company pays your assistant $5,000/month plus spends $3,000/month their payroll taxes, medical insurance, disability insurance and worker’s comp insurance. The company also pays your medical insurance premium of $600 per month and funds your IRA each month with $200. Answer

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ANS WER The company should continue to make the monthly lease payments on the office space as well a... View the full answer