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    Tuesday, July 9, 2019

    Does buying a new car for business purposes at the right price effectively make it "free"? small business

    Does buying a new car for business purposes at the right price effectively make it "free"? small business


    Does buying a new car for business purposes at the right price effectively make it "free"?

    Posted: 08 Jul 2019 03:47 PM PDT

    I'm looking to purchase a new car that will be used primarily for business purposes (75% business, 25% personal). I've been doing some research on various types of cars and want to check my math to make sure I'm thinking about it correctly. Does the scenario below make sense if I were to own the car for 3 years and then sell it?

    Cost of car ownership:

    • A new 2019 Chevy Bolt can be purchased for approx. $18k after dealer incentives and tax rebates
    • I will put down $3k down, and finance the remaining amount at 2.75% interest for 36 months with my local credit union
    • After 3 years, the approx. resell value of the Chevy Bolt will be $15k (conservative estimate that assumes less than 20k miles and car in good condition)
    • Net cost will be $3k + interest on loan = approx. $4000 total

    Now, here's how the business use of the car factors into the cost:

    • Each year, I should be able to write-off approx. $4k in taxes ($2700 in depreciation via MACRS method and assumes 75% usage and $18k purchase price, $900 in insurance, and $400 for miscellaneous registration, gas/electricity, etc.)
    • Assuming a tax rate of 33%, that would come out to a $1320 savings per year in taxes. Over 3 years, that would equal $4000 in savings

    Net cost of ownership after tax savings:

    • $4000 cost of car ownership - $4000 in tax savings = $0 cost

    Am I missing anything major here in my thought process? In case it makes a difference, I am a licensed real estate agent and will be using the car primarily for my business. I considered just using the mileage write off ($0.58 per mile) since that's a heckuva lot easier, but I don't think I'll drive enough miles for that to make sense ($4000 in write off would require 7000 miles per year).

    submitted by /u/ospreyintokyo
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    Feasibility of starting an aluminum can collection business on a college campus

    Posted: 08 Jul 2019 11:13 PM PDT

    I recently had an idea that doesn't seem quite possible, but just possible enough for me to dwell on. I go to school at a Big Ten university (~40,000 students) and can't help but notice the number of aluminum cans (especially beer cans) that college students go through. I am looking for critiques, comments, or suggestions regarding this idea.

    Rough business idea:

    1) Provide campus apartments with their own recycling bin that is strictly intended for aluminum cans 2) Incentivize tenants to actually put cans in the bin by paying them a certain $ value /lb. 3) Work with apartment complexes to allow tenants to put bins outside of door biweekly or monthly for collection 4) Bring cans to a local scrap metal recycler and receive $0.30/lb

    I realize there are a number of hoops to jump through to make this happen, including:

    1) Working with landlords to allow me/others in the building to collect cans 2) Significant start-up costs including vehicle and recycling bins 3) Need to create an effective marketing plan to encourage tenants to actually recycle the cans 4) Must scale quickly

    This might be a long shot, but I appreciate any comments on this idea.

    submitted by /u/NobleDegenerate
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    How do you balance work vs home life?

    Posted: 08 Jul 2019 04:11 PM PDT

    How to you separate work from home life especially if you operate out of your home and/or have a family? What do you prioritize? How do you balance everything?

    submitted by /u/JunkyardKitty
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    In-Home Tutoring business having trouble retaining quality employees

    Posted: 08 Jul 2019 03:02 PM PDT

    Hello all,

    My family runs an in-home tutoring business. It has been thriving for the last few years, but one consistent problem that we have has been recruiting quality tutors and retaining them.

    The tutors have a hand in making their schedules and being sent out on assignments that match their skill set. They are paid $21-$24/hr, depending on their experience, the grade level they teach, and the subject matter they handle.

    Has anyone had similar issues retaining hourly workers? How did you solve them?

    submitted by /u/automatic365
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    Recommendations for a simple hosted CRM platform?

    Posted: 09 Jul 2019 01:15 AM PDT

    I'm looking for a hosted CRM solution to get started on. It's just me and one sales guy, but I'd like a good way to keep track of when a customer was emailed, add notes, set follow up remainders.

    I am keen to find something simple since it seems like many platforms are fairly complex and require a bunch of time to learn.

    Got any recommendations for cheap and simple platforms to get started on?

    submitted by /u/man_with_cat2
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    Former Business Partner owes me money

    Posted: 08 Jul 2019 04:59 PM PDT

    I'll go more into detail, but long story short my business partner owes me about $630 and is being shady about paying me back. This former colleague and friend of mine used to work together at a print shop. We hated the management there and felt like we weren't treated fairly. We decided to start a print company together because we're good at screen printing and we're both very artistic. I'm a graphic designer too so it's easy for me to work that side of things. Anyway, my vision (what I thought was our vision) was to be more of a boutiqu operation and instead of doing a bunch of commercial work (schools, landscaping companies, etc) we wanted to work with the artistic small and local businesses in our area. I am very well connected around here so getting jobs was not hard for me. I recently got a credit card and it allowed for 0% interest for 15 months. We needed some basic equiptment so after doing the math, I could purchase the equipment and we could pay it off with our first few jobs (that were already lined up). In total, I invested about $1100 in the business. Part of which was freelance money that had nothing to do with printing but I ran the job threw the company to help establish revenue and whatnot. We worked with an online invoicing program so most of the jobs were paid digitally by clients except for like 2 that were paid either in cash or by check. I was able to partially pay back my investment with the some of the cash/check money we got which was about $370. Well my partner got let go from her fulltime job and I was currently working freelance parttime on top of managing our print company. I was determined to use the opportunity for both of us to put all our energy into the business. After 5 months or so prior to her losing her job, I felt like I was the only one making an effort to network and get jobs for us which was getting frustrating. So we sat down and ran the numbers because we should've had enough in our account to pay me back now. At this point I was owed $730. I look at our invoicing account and was trying to figure out how to withdrawal the money. Well......back way we had our first job (7 jobs ago), she withdrew the payment to purchase merch needed for the job. Probably about half of that income was needed for the merch, the rest...who know where it went. Because she did that in the beginning, it set up the account to direct deposit to her bank account. All the money we made was going into her account as we received it. The whole time. When we both realized fhat while doing the numbers, she said she had no idea that was happening...supposedly she doesn't check her bank account often. In the moment I was like "If I freak out, that'll make matters worse. She'll pay me back and we'll keep building the business." This is a person who always verbally worries about not having enough money and how her bills are so expensive and she just lost her main source of income.. I told her that I wouldn't be using my credit card anymore the business. After a month she didn't find another job yet and was being pretty picky about jobs. I stopped doing anything for the business because I ended up getting a great job with great pay and benefits that I was really passionate about. Overall, she got to a point where she didn't care what jobs we did because she needed to pay rent. That's not my problem though and the business was never supposed to be a main source of income, but instead a cool way for us to print our own stuff and that of our small business friends while making some extra money..a side-gig. Two months later she finally gets two parttime jobs, cool fine. She owes me $730. She said she can only afford to pay me $100 a month until it's all paid. I'm a reasonable sympathetic person so I agree. She paid me $100 for the month of March and that's it. A few weeks ago, I text her about it and she says that she had to go to the hospital recently and now she has a huge hospital bill to pay but that she might get some print jobs and she'll use the money to pay me back..... Sounds like BS and an empty promise. It's weird that she didn't tell me upfront about it and at this point I'm tired of being taken advantage of and paying me back basically isn't a priority for her. She's off on a trip in Vegas visiting family right now. I'm annoyed and I don't know how to get her to pay me back. Her boyfriend makes more money than I do but it feels unethical to confront him about the problem. Any advice is appreciated. Also I'm 26, don't know a ton about business. I learned alot so please none of the "You're naiive" BS.

    TL;DR - Former friend/business partner had unknowingly set our income to direct deposit into her bank account. I invested $1100 and there was $730 that I was still owed. 5 months later we found out that was happening and she had been spending the money without realizing it and couldn't pay me back right away because she lost her job. Now has job and keeps putting it off beside paying back $100. Still owed $630...halp.

    submitted by /u/and-so-on
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    Website or Social Media first

    Posted: 09 Jul 2019 01:43 AM PDT

    So, this seems like a chicken and egg question from what I have researched.

    My partner wants to build a social media following first and I am thinking build a website first that the social media can drive the traffic to.

    We are going to be launching a Kickstarter project by the end of the year and want to build brand awareness and an email list.

    Both seem to have their pros and cons, but I wanted to hear from real people who have tried and tested it.

    Any info would be greatly appreciated.

    Cheers.

    submitted by /u/eastnole
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    Manufacturing business setup

    Posted: 08 Jul 2019 08:46 PM PDT

    Hi people. I run a business that produces a few products, my business partner was handling the establishment of costings, forecasts etc until he suddenly passed away recently.

    I have now had to pick up where he left off. Upon reviewing all the data that he'd set up I noticed that the costings and some other information is VERY light on and not very accurate.

    I now need to rework absolutely everything he has done to have an accurate account of what my business is doing and what we need to do to get where we want to be.

    I have no business management experience and was meant to focus on production only, obviously things have drastically changed and I am in damage control after seeing his shitty work and realising that it's all on me if we want to survive.

    I'm after advice on how to arrive at a cost for products manufactured, how to forecast, how to set sales targets for the volume that we need to be a viable business and other general management systems.

    I know I need training in this field and have booked a short course initially.

    Has anyone got any advice for how I can watertight my ship? Any advice on costings and how to relate overheads to a unit factor? Any advice you guys have will be appreciated.

    Eli5 if possible please.

    Thanks

    submitted by /u/mikecheck211
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    PSD To Word Press Conversion Services - PSD To Word Press Company

    Posted: 09 Jul 2019 02:43 AM PDT

    We offer a great range of cost-effective PSD To Word Press conversion services and also create custom plug-ins with great support for graphical display

    submitted by /u/cherylmanve
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    Do small businesses use Zendesk/Freshdesk?

    Posted: 08 Jul 2019 05:05 PM PDT

    Hi, I'm trying to understand how popular the Zendesk software for customer service is among small businesses. Curious if you use this software (or any other customer service software like FreshDesk) and if so, what do you use it for in your business? Did you set it up yourself or have someone else do it?

    submitted by /u/thizy_rewind
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    Please guide to promote my newly started E-commerce site

    Posted: 08 Jul 2019 11:49 PM PDT

    Please can anyone guide how can I make first sale from my Indian E-commerce Site : Https://www.awesomelivingstyle.com , please provide any idea to promote my website

    submitted by /u/Awesomelivingstyle
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    I feel totally trumped by something that should be so simple—our damned landline phone!

    Posted: 08 Jul 2019 07:00 PM PDT

    We have a small business in town with a receptionist desk. This reception desk has one phone base with a handset. Recently we decided to hire a second receptionist for when the business gets extra busy so that the phones don't sit around unanswered while receptionist #1 tends to clients.

    When both receptionists are sitting around at the front desk, we would like for two calls to be taken at once. One call comes in, receptionist #1 answers, then the second call comes in, and receptionist #2 picks it up on line 2.

    We got a second phone number and set it up so that line 1 will rollover to line 2 but apparently our phone won't work with that function even though it has 2 lines. The phone company was no help when asking for recommendations.

    I feel like it's simple what we're asking for—to make 2 calls simultaneously, but we've been trying for 2 months to fix the issue to no avail. I feel absolutely defeated and like landlines will actually be the death of me.

    Do we actually just need 2 phone bases for the reception desk? Or is this what a phone with line 1 and line 2 are for? Do we just need a newer phone? I need advice from someone who knows better than I.

    Edit: we decided not to go with a voip because our internet is sometimes unreliable.

    submitted by /u/devilsho
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    Creating a LLC / Working with Off shore company

    Posted: 08 Jul 2019 10:12 PM PDT

    I will be creating a LLC in Texas. Most of the work will be done off shore. I will find /charge the clients here. Keep my share and pay the offshore company it's share. What are some of the tax related documents I should keep? What are some things to look out for? Do I need to have a contract with offshore for each project? are there any business laws I should be aware of. Any help / guidance is appreciated.

    submitted by /u/bahaw1024
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    Hubspot vs Salesforce

    Posted: 08 Jul 2019 12:18 PM PDT

    So we are a 20+ people company and we are always generating new leads to bring onboard with our business as clients. We've been using HubSpot mostly but were wondering what would be a better one to use in a long run. Should I continue to stick with HubSpot or change over to Salesforce?

    submitted by /u/EitherSecretary
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    Looking for businesses interested in pitching on shark tank style stream

    Posted: 08 Jul 2019 09:54 PM PDT

    I am looking for any businesses that would be interested in appearing on a shark tank style twitch stream. The pitch would roughly consist of a 5-10 min video describing the business (founders will be asked to prepare this beforehand), then the founders will do a live Q&A session with the investors, then the investors will make the founders offers.

    I have a few investors who have expressed interest in appearing on our first few episodes and I am looking for any businesses that are interested so that I can start scheduling the streams.

    Please pm me with a link to your website or a description of your business idea as well as an email or some kind of contact info if you are interested! I would also love to hear any thoughts people have on this show as well.

    submitted by /u/qrutledge
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    Selling on Amazon has been amazing in 2019. Any advice for someone new to S-Corps though? (Full breakdown on PF in post)

    Posted: 08 Jul 2019 04:38 PM PDT

    Keeping this short but happy to answer questions to clarify. Throwaway account since I have some friends who know my regular account. Wife and started a business on Amazon and have been kicking ass. We're set to profit around $350-400k this year.

    We've been operating as an S-Corp all of 2019 but paying ourselves very minimally as we needed to make sure we had plenty of cash liquid to purchase stock for Q4.

    2019: The first six months-

    • Each had a salary on target for $60k/year. (Minimal Reasonable Salaries as per our CPA)
    • Maxed Roth IRAs
    • Have been contributing to Vanguard Index Fund Admiral shares $800/month each person.

    2019: The next six months-

    • Set up individual 401k through Vanguard and max contributions this year for both of us.
    • Continue to invest extra into Index funds.

    Questions:

    -Any tax advantageous info for people like us who are the sole employees of our own S-Corp so that we can keep more of the money we earned? (For example, still researching but it seems like the S-Corp can match our 401k contributions.)

    submitted by /u/amazonworked
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    What to charge for Square POS setup

    Posted: 08 Jul 2019 12:26 PM PDT

    Have a client I work with that decided to replace his POS .. small ice cream and grill to Square.

    There are about 75 menu items and options, employees and basic config.

    What do you think would be a fair price to do this. Would prefer a flat rate. Needs to get done in the next 5 days.

    Ie switching from Harbortouch

    submitted by /u/blakeusa25
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    Total Beginner - Can Anyone Help With A Few Basic Questions?

    Posted: 08 Jul 2019 03:48 PM PDT

    Hey guys!

    So I was let go from my job a few months ago, and fortunately I did a good job at saving up while I was there. I've been taking this time off from work to really try and build what was once just a small side hustle to something a lot bigger.

    Basically it's just an online business of selling retro collectibles (vintage media, action figures, books, and also my own custom products, which I anticipate being a big seller).

    Right now I primarily sell through Instagram, eBay, and mercari. I'd like to make everything a lot more professional and turn it into something legitimate. So a few of my questions are:

    • Should I register as a sole proprietor? (I've been told that this would be more wise than registering an LLC)

    • If I register as a sole proprietor, would that also register the brand name legally as a small business or is that a totally separate process?

    • Do I need to be a legally registered small business in any form or fashion to set up an online store?

    I'm happy to answer any follow up question for more info, and like I said I'm a total beginner so I apologize if any of my questions sound ridiculous! Lol

    submitted by /u/-ThePathIsTheGoal-
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    How do businesses that buy jewelry from people make money?

    Posted: 08 Jul 2019 02:54 PM PDT

    We have a very heavily advertised cash for gold business named " Oliver Jewellery". The guy is giving his cash for people's gold and jewelry and there are quite a few businesses like that.

    I am just interested in how those businesses operate and how do they generate the income?

    For example, I sold then a $50 golden chain, how much profit would they make off that piece?

    Who runs those businesses? What are those people backgrounds?

    I have only got the interest in how the businesses works and how profitable that is, have no interest in joining the industry.

    submitted by /u/KLVLV
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    Online Marketing Content Strategy Survey

    Posted: 08 Jul 2019 01:54 PM PDT

    I am an internet marketer and I am collecting some information about how business owners/operators deal with content marketing for their websites. I created a 10 question survey that asks about what you, as a business owner/operator, do concerning the content you create, publish, and promote on your website. I'm going to use this information for a future blog post in my agency's blog. This survey does not collect any personal information except for your age. I would really appreciate any responses you could provide. Thank you!

    Website Content Strategy Survey

    submitted by /u/Blue_Steel_Skies
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    Robocalls on MY 800#

    Posted: 08 Jul 2019 01:44 PM PDT

    Has anyone else experienced this issue. About 20-30$ a month. Same 2 phone numbers. Phone provider says we can not block specific numbers on an 800 account. What to do?

    submitted by /u/gracefuli
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    Simple websites

    Posted: 08 Jul 2019 08:43 PM PDT

    I'm offering to help almost any business make a website for their need. I can make it for E-Commerce but will warn if you have hundreds of products it will not be a simple/quick solution to adding all of them unless they are already in Excel or CSV format! Otherwise a few products 20-30 will not be tooooo tedious to deploy.

    I can also make websites just to display information such as a description, contact info etc. The cost to make the website will be a $100 fee + any costs inquired by hosting + domain name (if you don't already own those but I would prefer to use HostWinds) I will be easily contactable to allow you to let me know of any changes you may need done etc. or allow you to make those changes yourself in a simple human form solution.

    Please feel free to message me explaining the type of business you currently own and what you would like done for it in terms of a website!

    submitted by /u/eurojdm
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    Do you, as a business owner/enthusiast, watch any content?

    Posted: 08 Jul 2019 05:31 AM PDT

    As the title says, I'm wondering if you watch any type of video content in your spare time or when trying to do research. If so, what type of content do you enjoy the most or find the most useful?

    submitted by /u/fjparravicini
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