[PINNED] Promote your business, week of July 29, 2019 small business |
- [PINNED] Promote your business, week of July 29, 2019
- [PINNED] In this post, share your small business experience, successes, failures, AMAs, and lessons learned. Week of July 29, 2019
- Removing a slacking family member
- Are my employees stealing? What should I do?
- Need help setting up manufacturing business
- Ignoring publication requirement for new LLC in NY
- LLC or Non-Profit?
- Looking for a checklist application for windows/mac for client items.
- Buyer's Guide for a Good ERP Solution
- 18 and looking to start a small business
- Beach Towels (made from plastic bottles) - Shopify Site Review
- Quickbooks is hard to use. Anyone know of an app that sits on top of it to more easily categorize expenses?
- Coworking Space in Bangalore/ Bengaluru, Shared Office Spaces in Bangalore/ Bengaluru
- A company from another country has stolen my company's logo and name selling a similar product
- How do you get paid from clients?
- Need some advice
- Managing social media
- Hot water in a restaurant/cafe..
- Creating Websites
- Branding vs Photography for business
- Phases(change in tones) in a business?
- Becoming a business owner (long post warning but any information or advice is appreciated)
- Need to fire an employee—medical issue involved
- [Long] Tutoring side gig took off. Here is an informal business plan and why I think it WON'T work.
- Creating S-corp advice
- Starting a business... advice?
| [PINNED] Promote your business, week of July 29, 2019 Posted: 28 Jul 2019 06:05 PM PDT Post business promotion messages here including special offers especially if you cater to small business. Note: To prevent your messages from being flagged by the autofilter, don't use shortened URLs. [link] [comments]  |
| Posted: 28 Jul 2019 06:07 PM PDT This post welcomes and is dedicated to:
/r/smallbusiness is one of a very few subs where people can ask questions about operating their small business. To let that happen the main sub is dedicated to answering questions about subscriber's own small businesses. Many people also want to talk about things which are not specific questions about their own business. We don't want to disappoint those subscribers and provide this post as a place to share that content without overwhelming specific and often less popular simple questions. This isn't a license to spam the thread. Business promotion and free giveaways are welcome only in the Promote Your Business thread. Thinly-veiled website or video promoting posts will be removed as blogspam. Discussion of this policy and the purpose of the sub is welcome at https://www.reddit.com/r/smallbusiness/comments/ana6hg/psa_welcome_to_rsmallbusiness_we_are_dedicated_to/ [link] [comments]  |
| Removing a slacking family member Posted: 28 Jul 2019 08:22 PM PDT Hey guys, so I'm currently in college and then hopefully going to help my father and grandfather run the family business (between 50-100 workers in size) after school. One of the biggest issues currently facing the company is...my aunt. Now, as a bit of backstory, my father has worked his way up to being the de facto president/he runs the operations day to day. My aunt, on the other hand, is there simply because of nepotism. She knows it, my dad knows it, everyone knows it. But it doesn't stop there. She's loud, obtrusive, and complains when she actually has work. She disappears from her cubicle for hours at a time and distracts people who actually have things to do. She is too touchy with me (a problem my brothers and I have had with her outside the office before) and is an overall nuisance. Everyone knows it's an issue, but my grandfather seems to think when my dad tells him this it's just a sibling thing. It's not, it's much much more than that. Other people such as the CFO have talked to my grandfather, all to no avail. Now, I love my grandfather and he is possibly my biggest role model, but this is one area I don't agree with him in (though I hav eyes to address it with him—not sure if I'm in the position to yet or not). My aunt needs to go for many many reasons, but she is also family and my grandfather stands in the way of any decision. Has anyone ever faced anything similar and how did you deal with it? Any input appreciated! TL;DR my aunt works for the family business but has no right being there and needs to somehow be removed. [link] [comments]  |
| Are my employees stealing? What should I do? Posted: 28 Jul 2019 05:02 PM PDT Hey guys, I am at a loss and need advice. Think one of my employees may have stole a very expensive clothing item but am not sure how to approach this situation. BACK STORY: I own a dry cleaner. The wire in the fur trim of a Moncler coat ($$$) seemed to have been slightly wrangled in the process of cleaning. We did not even notice any damage until the customer brings it back for us to feel. We show her the care label where it says it is machine washable as well as dry cleanable and that we have followed care instructions, the garment is still wearable and not even noticeable of damage since the fur covers the wire. The customer is livid and unreasonable. Customer demands that we buy another Moncler fur trim of her liking, she would then like to feel the touch of the trim once it arrives, then we are to attach it to her coat. So we then buy a used Moncler coat with similar trim. It arrives 2 months later from Russia. All the meanwhile, we keep her coat for the purposes of giving to the tailor once the new trim arrives. The coat from Russia arrives 2 days ago. I call the customer yesterday to come in as she pleases to approve the new trim. She says she will come in the next couple days, and will call ahead of time to make sure I am available when she comes in. I observed the coat last night sometime between 5 - 7:30 pm before leaving to make deliveries, just to make sure the new trim is hanging with the coat. I come into work at 11 am today and decide to give her coat and the new trim another look to make sure they fit and everything is in correct order incase she decides to come in today. The coat is now nowhere to be found. It has been in the same spot for the past 2 months, and now the coat has disappeared. Let's backtrack: We have been having issues with the cleaners being too hot since the AC is not working. We end up having to keep the back door open so the heat can escape. The customer's coat has been hanging near the back door in the same spot for the past 2 months. We have had 0 issues of anyone trying to sneak using the back door. However I was 100% sure this morning that someone came in and stole this coat. What else could it be? It was sitting amongst other garments that were cleaned and ready to be given back to customers (we hang them in this spot because they are long dresses and would not fit properly on the conveyor belt). While all the other garments were wrapped in plastic and hanging on a rack, the coat was the only garment not wrapped in plastic, and was hanging off a metal hook that hung on the rack. The metal hook had the customer's information. It was clearly an unfinished item. The metal hook, the paper with the customer's information, as well as the coat and both trims have all disappeared. I contact the building management team since our back door leads into a garage where there is a camera that is pointed in the direction of our store. This means that anyone coming in or out would be caught on this camera. I am convinced that someone came in and stole this coat (even though that also seemed weird if they just come in to take this one coat and nothing else, and in the process take the metal hook and the customer's information -- just seems like too much work when breaking and entering). Management has now confirmed that there has been no suspicious activity recorded on the camera between the hours of 6-8 pm last night and 6-9 am this morning. Our business hours are 7-8 pm, however I have employees that come in at 6 am to set up shop before the store opens. I would never have thought my employees would steal from me, but now I'm not really sure what to think as the camera footage shows no suspicious activity and the coat has disappeared. This coat that has been sitting here for the past 2 months is now nowhere to be found. It is a $2000+ coat. My husband and cousin both say it may be an employee, but I'm not even sure how to approach them. What do I do? How do I approach my employees? Do I fire them? Do I play it like I am understanding so that if one of them did take it they would feel comfortable to bring it back? Did one of them steal it? Where is the coat?! What do I tell the customer? I JUST called the customer yesterday after 2 months telling her that the trim has finally arrived, and now her entire coat as well as the new trim is gone. Do I tell her the truth? Do I make something up? Even if I make up a story and write her a check for $2000, I assume she will still want her coat back. WHAT DO I DO?! [link] [comments]  |
| Need help setting up manufacturing business Posted: 28 Jul 2019 04:51 PM PDT So I have a design for a medical mobility device. Objectively, I have absolute confidence in my design. Additionally, I see a great need for the product in it's niche. I have zero experience in operating this type of business. I currently work 3 jobs and go to school part-time for CAD so I can get specific dimensions on parts to get them machined. I'm using my spare time to study the legal side of setting up the LLC, business practices, etc. I have bad credit (550), no extra income (I have two kids, and am still rebuilding my house after Florence), I have limited accounting knowledge (just got an accountant and learning), and have one debt on file from an auto loan defaulted on. What I want: to learn as much as I can. Should I order custom parts or get a CNC? How do I secure start-up funding? Are there any legitimate grants? Should I rent a location here, or are there states that offer benefits for manufacturing companies? What's the deal with angel investors... Are they like the unicorns of start-ups? I want to bring a finished product to the market as soon as possible, could someone point me to the information I need to make that happen? Edit: a little extra information - a close friend of mine is a mechanical engineer, he specializes in post-incident fault analysis, and has been my consultant through the design process thus far. He is also a quadriplegic and the reason I started on this journey. I'd like to add that I appreciate every bit of information and advice offered here. [link] [comments]  |
| Ignoring publication requirement for new LLC in NY Posted: 28 Jul 2019 05:50 PM PDT Any NY business owners who have ignored this requirement? I eventually will do this but don't want to spend the money to run an ad for 6 weeks. I heard the only implication is I can't sue anyone in NY. Any other reasons why I should do this now rather than later? [link] [comments]  |
| Posted: 28 Jul 2019 05:22 PM PDT I think this may be the best place to post this. I may cross-post to r/nonprofits Long story short, I have a company right now that is for-profit filed as an LLC. However, as I've been growing this company, I came across a way to potentially help non-profits bring in more money and items, but it relies on some donations, even though it would theoretically make the non-profits more income. My main question is: do I switch to a non-profit in order to appeal more to other non-profits to partner with or is being for-profit still okay? I want to stress that this isn't to take advantage of these non-profits in any way. I see an opportunity to help them bring in more money and increase income for non-profits I partner with, but I will also need to capitalize off of it in some way in order to keep my business afloat. I just want to know if I should approach them as another non-profit or if being a for-profit LLC is okay. I could care less how much money I make from the business so long as I can make enough income to live. Thanks in advance! [link] [comments]  |
| Looking for a checklist application for windows/mac for client items. Posted: 28 Jul 2019 03:28 PM PDT Hi. [link] [comments]  |
| Buyer's Guide for a Good ERP Solution Posted: 29 Jul 2019 02:07 AM PDT Organizations that are powered by the digital competence of a good ERP solution are definitely bound to have the prerogative to be among the market leaders in its walk of business and entrepreneurial capacity. But, how could one identify a good ERP solution? To gain the mettle to determine the veracity of an ERP solution's tenacity, businesses have to deduce an informed consensus on the following quality and composition of the ERP product: Scalability: The software, without any snag, should be seamlessly extendable to adapt to any business demand dictated by market conditions. The solution should be based on a robust, multi-tiered, and adaptable IT platform, like Oracle, which provides access to specialized technology and advanced computing resources, thereby giving precious scope for innovations. Further, the ERP vendor should offer reliable support in keeping the software up-to-date at all times. Integration: The ERP system should bring together the internal functions of each business unit and also interlink the units that have mutual interests in order to allow each unit to efficiently execute its functions by gaining access to the information it needs from other units. This aspect is to ascertain that the business process is smoothly streamlined without any glitches. Common Data Repository: The solution should provide a centralized data storage facility, from where real-time data could be accessed and used by the management and staff of businesses. This will rule out all communication gaps and ensure the provision of uniform information through the entire hierarchical rung as defined by the role-specific scope granted for each user. Data Security: The ERP should be built and be supported to ensure that there is 100% compliance in restricting data access, and to confirm maximum Information Security by implementing the best practices to protect the data in the process of being accessed by various internal and external resources of the organization, and by providing continuous and adequate training to the stakeholders on data usage and system operations. Versatility & Affordability: The system should have a proven track record for having provided 'Ready' and 'Custom' Fit solutions for over 50 industry types, and must be devised to be implemented in both On-Premise and On-Cloud options. The solution should be priced best in its class despite its availability as a full-suite ERP, including customization and support. User-friendly Interface & End User Training: The ERP should be a User Friendly application involving a very short learning curve for the staff of any business to get trained to use it. The training curriculum should include systematic practice exercises to synchronize training at all levels, that even entry level staff, within the scope of their liabilities, should be able to handle the software with ease. Uniqueness: The ERP vendor should be unique from amongst their peers in terms of high-quality and dedicated service, quick response to the clients' needs, domain proficiency, operating methodology, and flexibility in working with the clients. Roadmap ERP conforms to all the aforementioned requisites that are required of a good ERP solution and crowns such features with its time tested implementation methodology. Roadmap ERP's implementation schema is designed to understand the needs and purposes of the client's business processes through the Roadmap Business Process Reengineering (BPR) approach. After acquiring complete knowledge of the business process Roadmap's BPR experts work alongside the Core Team of the client to successfully marry the business process, organization structure, and the Roadmap ERP. [link] [comments]  |
| 18 and looking to start a small business Posted: 28 Jul 2019 04:55 PM PDT As the title says I'm 18 and I want to start a small business. Unfortunately on the side of business I leave in November to serve a LDS mission in Mexico. Fortunately it's what I want to do so no way around it. But I have 2 questions; 1. What would be a good small side hustle with low money to get started? And 2. I have an idea to replace head/tail lights for people in the town I live in for $40 per light, problem is the liability is high which I don't want to risk before I leave. So my question is if there's anyway I could write a legal waiver to protect me from that liability? [link] [comments]  |
| Beach Towels (made from plastic bottles) - Shopify Site Review Posted: 28 Jul 2019 09:52 PM PDT Hey guys - I posted the same post to /r/reviewmyshopify and got some good advice so i'm hoping for the same here. Our product is a multi-purpose towel (beach, yoga, travel) made from recycled plastic bottles. Our site is brand new so there isn't much info I can provide in terms of analytics that might help. But essentially we don't have any traffic except the odd redirect from IG. Website: beachpls.com IG: beachiesoriginal I guess my question is mostly if there's anything from a UX or design perspective on our site that needs some attention. We used the theme showcase but made some code edits to have a fixed header menu for our desktop version. Everything else is native to the theme. I've tried to keep the site as simple as possible. We only have one product (4 designs) so that wasn't hard to do. The towels are made from 85% recycled plastic bottles and a big part of our mission is to create a sustainable product. The manufacturing process adheres to GRS standards. The next step is to drive traffic through paid social (fb/IG) so any recommendations to the site to help with conversions there would be great. Please let me know if there's something my site is missing that would improve the customers shopping experience or just general advice and feedback on the site. Thanks [link] [comments]  |
| Posted: 28 Jul 2019 09:51 PM PDT |
| Coworking Space in Bangalore/ Bengaluru, Shared Office Spaces in Bangalore/ Bengaluru Posted: 29 Jul 2019 12:53 AM PDT Coworking Space in Bangalore/ Bengaluru, Shared Office Spaces in Bangalore/ Bengaluru Share office solutions provides coworking space shared office space in bangalore private workstations office space for rent small office space commercial office space virtual office in bangalore private workstations high speed Internet conference rooms power backup printer,scanner,cafe etc everything you need at a click of a button. call us on +91 9739966778 Enquire now. [link] [comments]  |
| A company from another country has stolen my company's logo and name selling a similar product Posted: 28 Jul 2019 11:53 PM PDT Hi all, Kind of freaking out right now and I don't know exactly what to do. I've also posted on /r/business but I thought I'd post here as well. I own and run a company based in Australia. It is registered with a government body and we have company registration materials to prove it. We also utilised the use of a graphic artist through Fiverr to make a custom design for our logo which we paid good money for. This logo, along with the name, has been stolen by another company who is a direct competitor of ours. They've started attaching our logo to their product (previously had their own logo but with our company's name) and have been passing it off as their own. They've also gone by other brand names but now have resorted to using our company's name very recently. I've researched frantically on what I can do but at the moment I am overwhelmed and a lot of the steps to take apply either to US based companies only or for situations relating to Australian based companies only. I have tried contacting legal companies but I haven't got a response from them so far. This other company has no social media, only an address to a place in Florida and a contact number. They have privacy on their WHOIS address so I can't even email or contact the person responsible directly. Is there any way for me to solve this issue without forking out money in registering for an international copyright or taking legal action? Any help or guidance is much appreciated. They also have video footage of a woman modelling their product using their old logo with the same name on YouTube. Don't know if this is relevant in any way but I can see the uploaders name/photo on their YouTube page. [link] [comments]  |
| How do you get paid from clients? Posted: 28 Jul 2019 11:05 PM PDT How do they pay you? I'm starting a small business and was wondering how small business owners generally get paid. Do they take cheque? PayPal, or something like that? How do online customers pay you? [link] [comments]  |
| Posted: 28 Jul 2019 02:13 PM PDT Hi guys, My family's originally from the middle easy so I grew up drinking a lot of tea. There's this new style of tea that's all the rage now in the middle east but not in the US, so I wanted to take advantage of the trend and launch my own business selling bottled tea brewed in that style. I've already taken care of the naming and trademarking process, but having difficulty in supply/production, and a reasonable outlook into potential performance. Currently, the cheapest price per unit I've been able to put together is around $1.50. I understand that as I grow, the cost will reduce as I can buy in larger quantities. But is $1.50 reasonable? How much should I be selling each unit for (I plan to sell to restaurants and grocery store, not to the end consumers)? How much profit can I reasonable be making off this in the near future? Thanks for the advice [link] [comments]  |
| Posted: 28 Jul 2019 10:40 PM PDT Hi small business owners, I wanted to ask you all a few questions, particularly about how you tackle social media. Quick survey—should only take a few seconds: https://forms.gle/vDz6XA74dfWk4HkL9 Thanks so much! Hoping to gain a clearer understanding about this space. [link] [comments]  |
| Hot water in a restaurant/cafe.. Posted: 28 Jul 2019 09:10 PM PDT So I have a cafe.. Yay! Curious what do you use for a water system? My husband is wanting on demand gas hot water system for the whole building.. Is this even possible? [link] [comments]  |
| Posted: 28 Jul 2019 08:53 PM PDT Hello everyone! I'm considering a new business venture creating websites for local businesses using wordpress/wix. I have a background in design, particularly logo design, but I have created a few websites in the past using website builders. I think I could sell the websites for a profit of around $150. I think it would easiest selling to service based businesses because they could give online quotes and show their previous work. The problem I'm running into is the fact that it costs $25/month to even be able to install plugins and build the website on wordpress. This means the upfront cost would be ~$450 instead of the $150. This looks much less appealing and I'm sure they would understand the $300 is not going to me, but rather to host the website. I'm extremely cheap so maybe this is why this sounds like a ridiculous amount of money for a website to me. Let me know what you guys think. Is this a business I should get into? [link] [comments]  |
| Branding vs Photography for business Posted: 28 Jul 2019 06:23 AM PDT Why photographers can charge $100 per hour to take pictures for small caffe place for example, but when graphic designer says he/she charges $100 per hour to create logo (something your brand will be based on), then owners are often like WTF - why would I pay you that much, it's just a simple logo. (This was a long ass sentence). I would like to see a discussion about this. What you as a business owner think about this? [link] [comments]  |
| Phases(change in tones) in a business? Posted: 28 Jul 2019 06:59 PM PDT Steve jobs said he always worked backwards. He looked at the end goal and worked towards the end goal. Making necessary changes but has a general vision to reach. And possibly changing vision/positioning if needed. Should what I want to make, a 'shoe company' have milestones to reach the end goal of 'luxury brand/innovative brand/community based brand'. Then put a few phases where the messaging gets a bit more distinct and aggressive. 100k annually then change to phase 2, 300k annually...., 600k annually. This was one of the things written in 'break through advertising' and a bit in 'story brand'. To ramp up the advertising tone, like the tone in a tv show. How should a business evolve to reach the end goal? [link] [comments]  |
| Becoming a business owner (long post warning but any information or advice is appreciated) Posted: 28 Jul 2019 06:15 PM PDT I'm not sure if this is the right sub to post this on but here it goes. My fiancé started her own online boutique about 4 months ago where she sells women's and children's clothing and jewelry. She has around 1500 members on her fb page and she's pretty much breaking even on her (my) money. An opportunity has presented itself to buy a storefront business in a developing part of Grain Valley, MO. The space is leased and I'm really not sure what comes with the business yet. We will be going over there tomorrow to ask the questions that we have. The current owner sells T shirts to the local schools and pretty much uses the rest of the store as consignment so that she can keep the place running. Some of the consignment businesses sell homemade lotions, candles, etc. so it is pretty much a boutique now. My fiancé also makes and sells shirts so that would be easy for her to continue. The lady has offered to show proof of all profits, sales, margins, anything that she has on the books of the business if we are interested. She's asking 28k for it. She says that she's really close to being able to live off of the money she's making with it (estimates over the next 2 years she will be able to) but that her husband is just done funding it. I am not a business owner but i have a minor in business management (I know this nowhere qualifies me to run a business or be considered an expert but I know the very basics). My questions are as follows: What are some things that we should look at specifically on her books to try to determine if 28k is a good price for this business? Is there an easy way to determine sales projections to see if there is actually money to be made here? Is there any helpful literature that anyone can recommend about what it takes to start a business and create and maintain a successful and profitable one? What are the laws on consignment in a business? Does it depend on individual contracts that the owner of the store has with each individual consignee or when the business is sold are those contracts void? Any information is appreciated and if there is a better place to post this please let me know! Thanks in advance. [link] [comments]  |
| Need to fire an employee—medical issue involved Posted: 28 Jul 2019 05:09 PM PDT Bob is incompetent and, for a few weeks now, unreliable. I have documentation for some of the unreliability, but not much of the incompetence. Bob informed me on Friday that he would be having a medical procedure on Saturday (yesterday). Turns out it was a major one, and he is now on bedrest for at least the rest of the week. I am a service business and run a small crew. It's our busiest week during our busy season. The rest of my staff is already maxed and cannot pick up any more shifts. Bob knew we needed all hands on deck. I am able to cover, but I have zero time this week to do any admin work. Next week will be the same if he calls out. The procedure probably could have waited until even a few weeks later when things were calmer (think something like bunion surgery—you've had it forever, it sucks, but a few weeks isn't going to make it significantly worse). When am I allowed to fire him, now that there is a medical reason for his calling out? He is part-time with no benefits. I am in MD. Thanks. Edit: name change Also: Bob told me about the procedure unprompted. I don't ask about medical history. I won't be firing for the medical leave or during the leave. As stated above, I have cause. If I'm still an asshole for firing him when he comes back, then I guess that's that. [link] [comments]  |
| [Long] Tutoring side gig took off. Here is an informal business plan and why I think it WON'T work. Posted: 28 Jul 2019 07:58 AM PDT Good day, TLDR I don't think it will be worth expanding due to economy of effort. I began offering tutoring services recently. It is taking off. I've been increasing my prices gradually for new students. Being incumbent of a full time job already, I'm getting to the point where I can't take on any more students. Now, I am attempting to expand but there are some major points of concern that I must address. This will be an informal business plan of sorts. I am hoping some of you could provide me with some insight. The current situation is as follows: Economy I reside in an oil town which also houses a military base. About a third of the population is military. The vast majority of the workforce consists of blue collar workers, and the average household income is some of the highest in the country. The average age is quite low as well. Lots of young families with kids. Competition Low. When I brought up the fact that I am a tutor to an acquaintance who is a high school teacher, she lost her shit. She told me she'd put me in contact with the school counselors- apparently students have been asking left right and centre if the counselors knew anyone. Teachers can't privately tutor- conflict of interest, so they say. The few tutors around here are retired teachers. This restricts the number of available tutors significantly. The only people with higher education around here are teachers, medical personnel, lawyers, and military officers. Employees Being military myself, a significant portion of my social circle consists of military officers. Many intelligent individuals in highly technical trades- we have engineers, air traffic controllers, logistics officers, you name it. There will be someone available. Threats
a) Keep tutors happy b) Keep parents happy c) Make cutting me out inconvenient
Model/ Addressing Threats Threat fields 1 and 2 are of greatest concern to me. Here is a rudimentary system I have in mind in an attempt to remedy this. Keeping tutors happy and offering convenience will keep me relevant in this equation. This would mean paying them well, as well as doing things for them they would otherwise have to do themselves. I would offer: a) Scheduling b) Curriculum c) Handle pay Let's say I charge $40 an hour to the student. I shave $5 for myself before paying out the tutors. Each tutor teaches a conservative figure of 2 students, twice a week. Tutor visits student's residence. Teach for prescribed amount of time. Per tutor I would get 4 sessions x $5 = $20 A small cadre of tutors (conservative figures), let's say 3. So $20x3= $60 per week. I wouldn't make enough for the work to be worth it. The only way around this is increasing prices. But how much are parents willing to pay? Conclusion With economy of effort in mind, I don't think expanding would work. The numbers don't add up unless I begin charging an extreme premium on my services, which would incentivize parents reaching out directly to their tutors and undercutting me. If I kept prices lower, I wouldn't make enough to justify the additional work I must do in place. [link] [comments]  |
| Posted: 28 Jul 2019 01:54 PM PDT My wife and I are looking into turning her business into an S-corp and having me join her. Before we do, I was hoping you guys could help with a breakdown of taxes in a clearer way than other sites. Here's the situation: My company has agreed to let me quit to go let me work for my wife's (future) S-corp and be rehired through the new company at a higher wage. I'm currently working in Texas for an $18/hr salary. My plan is to be rehired as a contractor or consultant through our new company and bill $26/hr ($54k/yr). (They get to avoid taxes on their end and pay my company more) My wife works as freelance graphic design right now making roughly $30k/yr as a sole prop. My question is if you guys can give me a breakdown of what taxes we would owe if we were to reform as an S-corp and each take a salary of $27k/yr, leaving the remaining as dividend payments and expenses from her unsteady work. I know as an S-corp there are no self-employment taxes, but we'd have to pick up payroll taxes instead. Also, how do we go about ramping up our expenses to the point where we can get to as little federal income taxes as possible? Or am I mixing up corporation types? Does increasing expenses only effect income tax in sole props? Or maybe in an S-corp scenario we want to limit expenses as much as possible so we have more dividends to give ourselves? The literature is quite confusing and non-specific, so any help would be appreciated. [link] [comments]  |
| Starting a business... advice? Posted: 28 Jul 2019 01:39 PM PDT Me and my girlfriend are looking into starting up our very own mini-business selling perfumes/aftershaves etc.. We have found a decent wholesaler who we can make a little profit margin off when comparing prices of the products online at RRP such as Amazon & eBay. Does anyone have any advice for us when it comes to finding ourselves the best possible profit margins? We were planning on doing a price list and ordering the customers orders at the end of each weekly Friday (this helps us with the £200 basket issue if we do multiple orders in one go). One last thing - what's the best way to deliver multiple parcels nationally (UK) as again, it can cost alot if we post regularly. Thank you for any incoming advice [link] [comments]  |
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