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    Thursday, January 25, 2018

    How does the tax reform of 2017 affect small businesses? small business

    How does the tax reform of 2017 affect small businesses? small business


    How does the tax reform of 2017 affect small businesses?

    Posted: 24 Jan 2018 03:17 PM PST

    So I hear and read to different voices, one that focuses on corporations paying a lot less in taxes and another that describes individual tax filers. But what about those in between? LLCs etc...?

    submitted by /u/mead8899
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    My Client is Lying, Should I Call Him Out On It? Please help!

    Posted: 24 Jan 2018 04:44 PM PST

    Situation:

    I have a large custom project that a client requested to enlarge even further. The client was supposed to pay me a substantial amount of money on 1/5/18 to fund the project but he failed to do so, which stuck me with flight/travel costs. He disappeared for two weeks, and then emailed me again because he has other work pending from me that is paid for but isn't finalized. He never came through with the funds and now states that he's "in the hospital" due to being hit by a drunk driver but refuses to provide evidence that he is actually in the hospital. His IP address is the same so I know he's lying, he also lies about when he opens my emails, as I have an email tracker that tells me when my clients open my emails. He opens them almost immediately but claims he doesn't open them for days. He doesn't know that I know he's lying.

    Should I call him out on his BS? I feel like if I do it might make things worse... but another part of me wants to take him to court because he cost me money. He would hate a lawsuit because his projects are very personal in nature and he would want to keep them private.

    Any advice would be appreciated - just trying to get a client to pay what we agreed upon to finish his project. Not sure if I should continue with the soft ball or if hardball would get better results at this point.

    submitted by /u/MrProducer666
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    19 yr old starting lawn care in a couple of months

    Posted: 24 Jan 2018 02:46 PM PST

    I'm thinking of starting a little lawn care business, just the basics, to make some extra money. I'm pretty sure I'm overthinking this, but I want to be sure...do I need to actually file this as a business for taxes? Or how do I pay taxes on my revenue?

    submitted by /u/ahh_mino
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    When is the best time to follow up with clients?

    Posted: 24 Jan 2018 10:37 AM PST

    On Monday I sent a link via email for two galleries of photos for a recent headshot client. These are my first paying clients ever & I need to know a few things.

    1. Is it appropriate to send an email a couple of days after the email with the gallery information making sure the download worked correctly and that they're happy with the product?

    2. If I send that email when is the right day ?

    3. When I follow up is it okay for me to send the invoice or should I send the invoice in a separate email?

    Any advice is appreciated.

    submitted by /u/Jessica_Iowa
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    Why don't business checking accounts yield interest?

    Posted: 24 Jan 2018 12:44 PM PST

    We have a business checking account with Wells Fargo. We have ~$80,000 coming in monthly and keep a balance of ~$50,000.

    The services they provide for us are:

    • Process EFTs (~30 per month)
    • Send checks (~10 per month)

    This is very similar to my personal checking account. The only difference is that CapitalOne 360 pays me 1.3% interest.

    Am I a sucker for working with Wells Fargo? Is everyone a sucker that uses business accounts?

    submitted by /u/fulldecent
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    Utilities - Home Office & Short Term Rental

    Posted: 25 Jan 2018 12:18 AM PST

    2017 Tax Question:

    I own my house and have a sole LLC and I also do rent out my spare bedroom through Airbnb.

    I'm claiming a portion of my utilities as an expense under short-term rental, can I also claim it as a portion of a home office?

    submitted by /u/financialthrow948
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    Merch

    Posted: 24 Jan 2018 04:42 PM PST

    Hey, We just submitted paperwork to lease a building, which is making it all very real!!

    I'm wondering if any of you have a website/retailer that you'd recommend for merchandise.

    Tee Shirts Pint Glasses Growlers

    That kind of stuff. Thanks for your advice.

    submitted by /u/Loveswine
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    Do you think I could get a 5k business loan for investing in ads?

    Posted: 24 Jan 2018 12:12 PM PST

    Long story short:

    I sell t-shirts utilizing platforms such as Etsy.com and Amazon Merch. I started my Etsy shop in August 2017 with 4 orders, totaling $60 and 195 visits. As of today, January 24th, my shop has a total of 11,277 views and 6,724 visits. 66 orders have been placed with a total revenue of $1,418.69. This revenue was used to pay my t-shirt manufacturer, Printful, and that totaled to $940. My profit since then is approximately $400.

    In regards to Amazon Merch, I've earned $2.94 in July 2017. As of now, my Amazon Merch account has earned approx. $1,430 in royalties.

    I'm a freelance graphic designer as well. I specialize in graphic design, website design, video design and more! My various projects completed totaled up to approx. $1,000 in 2017.

    With a small business line of credit, I would like to:

    1. Invest in online advertising to increase my sales heavily
      1. Facebook Ads
      2. Etsy Promoted Listings
      3. Pinterest Ads
      4. Promote 2 Instagram pages
    2. Separate personal from business
      1. Acquire a LLC
      2. Business Credit
      3. Phone Number (Business cellphone)
      4. Address (PO BOX)

    Edit: Thanks for the comments everyone!

    submitted by /u/vivawired
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    How to buy a company that's not in operations any more

    Posted: 24 Jan 2018 10:14 PM PST

    A few years ago, I started a LLC with 5 other friends to work on a big mobile app development contract work. I wrote the proposal and won the work. Each of us had ~17% share of the company. When the contract ended, everyone burned out and my friends don't want to pursue any further contract work any more. We want to dissolve it but instead of just dissolving the company, is there any way I can buy it for like $1 or something? I really want to bring that initial contract work under my portfolio - I have my own digital marketing agency now - so I can use it to pursue further contracts. I don't think my friends would really care. If I want to buy it for $1, do I need to talk to a lawyer or would this be something I can do on my own?

    submitted by /u/seongbae
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    In need of CPA, Wyoming C-Corp

    Posted: 24 Jan 2018 10:13 PM PST

    Hi,

    I have a startup incorporated in Wyoming, and, am in need of a CPA to help with my federal/state tax filing. If you are able to help, please send me a PM/reply with info such as website/email/rates etc. Thanks

    submitted by /u/georgemp
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    Successful Marketing Campaign Stories

    Posted: 24 Jan 2018 10:07 PM PST

    As members of the marketing community, it is always interesting to hear how small business get their name into the world. Interested in hearing about marketing campaigns that were successful for you and your company. Thanks!

    submitted by /u/KogarashiFilms
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    Getting Loan Secured By Trust

    Posted: 24 Jan 2018 07:01 PM PST

    I'm looking for ways to buyout a partner and also gain access to some working capital. I have a trust worth approximately $1.5m that I would like to use as collateral to secure the loan.

    I want to avoid touching the trust to buyout the partner so I'm curious how I can approach getting a loan/ what type for this?

    submitted by /u/CKRuss
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    Tip: Create a Multireddit with all business-related subreddits involved, this way you can have times where you're just reading business information

    Posted: 24 Jan 2018 07:01 PM PST

    I'm looking for good marketing books

    Posted: 24 Jan 2018 06:38 PM PST

    Hi.

    I'm looking to get some recommendations about good marketing books.

    Something about social media, maybe.

    Can u help me?

    Thanks!

    submitted by /u/0932840983490-394-0
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    Side gig to full time job

    Posted: 24 Jan 2018 05:12 PM PST

    Who here has turned a side hustle into a full time job and what do you do? Want to hear some inspirational stories! I got a small nonprofit as an accounting client 5 years ago and now I just offer accounting services from home!

    submitted by /u/MarinaKov
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    How to prevent a price war?

    Posted: 24 Jan 2018 05:06 PM PST

    Say company 1 sells a product that costs $2 to make and they sell it for $10. Company 2 has the same product and costs but sells it for $8. Company 1 decides to lower their price to 7.50 and Company 2 lowers it to $7. Assuming they will keep going lower and engage in a price war, what are strategies to end the price war or prevent it altogether? Thanks!

    submitted by /u/BurnerSzn123
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    Checkout my new site and let me know what you think.

    Posted: 24 Jan 2018 04:17 PM PST

    In need of CPA, Virginia (LLC/S-corp) startup

    Posted: 24 Jan 2018 03:48 PM PST

    Need to get some basic filing information for a startup I run. LLC at state level, S-corp at federal level. Proficient with tax work, just need to review requirements with the two different entities at state & fed level. Please send info, website, etc for validation of your services so we can get a dialogue going. Thanks.

    submitted by /u/SpareTimeDreamer
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    I would like to know the experience of any LLC owners who elected themselves to be taxed as a C Corporation

    Posted: 24 Jan 2018 02:25 PM PST

    As the title implies I would just like to know somethings about LLC owners who elected themselves to be C corporation. Are you paying yourselves with dividends or are you using W-2? What type of business do you own and how is this advantageous to you

    submitted by /u/Lock142815
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    Looking for a mentor /or resources for my business.

    Posted: 24 Jan 2018 10:28 AM PST

    I've started a company and I'm having trouble structuring it's finance. We offer a service so the income is not a constant set. We commission work and contract our workers for the service. We pay by hour for the commissioned work and try to regulate it so there's profit, We're at a point where things are speeding up and we can be making a lot of money. I've not taken any money as I've invested it all back into the company up till now and I'm unsure of how to go about taking and structuring it all out. It's my first company, I'm currently 17 years old and am quite lost to be fair I've never done this. I was hoping amongst all the people on reddit I'd be able to walk away with some resources or advice.

    submitted by /u/Vialz_
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    ELI5 Amazon Vendor Express?

    Posted: 24 Jan 2018 01:16 PM PST

    I have been selling on Amazon for years, its a big part of my online business. I do some products FBM, and the main ones are FBA. I was looking into AMS (Amazon Marketing Services) to get better exposure, but to do that you have to be an "Approved Vendor". Apparently that means "Amazon Vendor Express", which is different than being a regular seller. I tried to figure out what the difference is, but its not clear, and I have a million other things to do. Can someone give me an ELI5 of this program?

    BTW, we are the inventors and manufacturers of our product, a tire changing tool. So we sell our Branded products on Amazon...and only we sell it. Is Vendor Express good for me?

    submitted by /u/LehighLuke
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    Should I work with clients before the Trade Name Application is approved?

    Posted: 24 Jan 2018 09:20 AM PST

    I sent in my Trade Name Application for my web design business to the Department of Assessment and Taxation two weeks ago. I gave them a call today to verify the status and the representative said it takes six weeks for the application to be approved. The problem is that a few clients I knew already approached me to work with them. I'm not sure if I should work with them since my business is still pending approval. But it's still four weeks away and I feel if I don't take the works I might lose them in the future.

    Should I turn them down now until my business is officially started? Or should I just work with them under my name instead of my business?

    submitted by /u/kingle01
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    Thinking of starting a mobile catering company

    Posted: 24 Jan 2018 05:20 AM PST

    Not really sure where to begin, still in research stages. Was hoping someone could point me in the right direction. Also how much would you need to take in per day to keep yourself afloat? (roughly)

    submitted by /u/strang13
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    paypal or square for startup

    Posted: 24 Jan 2018 12:48 PM PST

    No more than 300 transactions in a year and for amounts less than $250/each. Which one would you go with and why?

    submitted by /u/BravaCentauri11
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