Independence, desire to learn, initiative, are hard to find. Can you find another position better fitting his skill set?

It all evens up when you file next years income taxes and get a refund.

If you need, you can show taxes payable as a credit, not a debit.

You’re basically asking the NPV (Net Present Value) of a $200k/yr cash flow over, let’s say, 5-10 years plus a little for goodwill and less due to equipment replacement costs. I’d adjust the discount rate by 25%, allowing for risk, then use Excel.

I suspect 1-2x gross profit would be reasonable.

I’m assuming you’re talking about the type of account, business, or persona, not just the number of accounts.

I’ve been in a low transaction volume business for 20+ years using only personal accounts. I use one account for business and a second for personal expenses. Quicken is used to track each transaction for taxes & financial reporting.

Using personal accounts is less expensive and sometimes has better integration on bank websites. I.e. one login, all accounts accessible as opposed to separate personal & business logins and only business or personal accounts accessible.

Generally, such as your case, a business counts the income the day payment is received. The date you cash the check or the invoice date is irrelevant.