How to Write a Business Plan

98 | HOW TO WRITE A BUSINESS PLAN

Personal Financial Statement

ANNUAL EXPENSES

Real Estate Loan Payments or Rent

Mortgage Holder/Landlord Rent or Own? Annual Payment

Bank of Centerville, 1st deed on residence, monthly Own $ 10,740

payment $895

Abner Small, 1st deed on unimproved lot, split $380 Own 2,280

monthly payment with my mother, co-owner

Total Real Estate Loan Payments or Rent $ 13,020

Property Taxes and Assessments

Property Taxes/Assessments Annual Payment

Winchester County real estate taxes $ 1,250

Total Property Taxes and Assessments $ 1,250

Federal and State income Taxes

Description Annual Payment

IRS $ 3,000

State 898

Total Income Taxes $ 3,898

Other Loan Payments

Creditor Annual Payment

VISA (Bank of Centerville) $ 1,600

American Local 290

Total Other Loan Payments $ 1,890