• Breaking News

    Tuesday, May 12, 2020

    Fully funded small business

    Fully funded small business


    Fully funded

    Posted: 12 May 2020 05:23 AM PDT

    Signed docs 5/10 Funded early this morning 5/12 I can finally breathe I'm taking a break from all of this and wish everyone the best of luck App # 330009XXXX yours is coming stay calm

    submitted by /u/ManyDrawer7
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    WHO THE HELL APPROVED ME FOR A PPP LOAN

    Posted: 11 May 2020 11:10 AM PDT

    FOLKS...1 Lender tells me I was rejected because I was approved by another Lender. Trouble is: I cannot locate or find out who this mysterious lenber is. Any suggestions on how to find out who the SUPPOSEd Lender is?

    submitted by /u/SemperFiJB
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    Starting a Business with 40k

    Posted: 11 May 2020 10:04 PM PDT

    A family friend has recently gotten a lump sum of about 40k and really doesnt want to spend it and instead make it grow. They've always dreamt of starting a small business to make ends meet as he's approaching 56 with no assets, retirement and has just been a driver his whole life (cab, uber)

    He's ran restaurants back in the day but doesnt cook. Anything he would start, I would help set up but for this amount, I honestly dont know what would be the best bang for his buck to build something sustainable and manageable. Just looking for ideas i guess. If you could start over what would you do? What is in demand right now? thanks!!!!!!

    submitted by /u/millionairemaro
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    Registering LLC as active duty military in state of residence but no permanent address

    Posted: 12 May 2020 02:48 AM PDT

    In my preliminary research into registering an LLC in Florida, I see they require a mailing/street address and same again for the registered agent. I am an active duty resident of Florida, but currently stationed in the UK. I have an APO address, and a local UK address, but no permanent address in FL. It's my state of residence as shown on my LES and voter registration... has anyone else gotten around this problem when having no physical presence in the state?

    submitted by /u/anotheruser1972
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    Pandemic’s Effect on Businesses (survey)

    Posted: 12 May 2020 05:07 AM PDT

    Hi all,

    If you're able to spare 15 minutes to reflect, I've got a friend who's looking for some participants in their survey.

    Thanks in advance.

    The Survey

    submitted by /u/Anton-sugar
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    Probono | Volunteer Professionals Helping Small Businesses Navigate An Economic Crisis

    Posted: 11 May 2020 08:34 PM PDT

    Checkout Probono. We're working with volunteers to offer free professional services, like strategy & marketing, to small businesses that have been impacted by Covid-19. Check out our website www.probono.consulting. If you're interested in joining us as either a volunteer or a small business, apply on our website. We're rooting for you small businesses :)

    submitted by /u/probonoconsulting
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    Best way to sell gift certificates while business is closed for quarantine?

    Posted: 12 May 2020 04:58 AM PDT

    Hello, my small business is in the personal service industry which has been forced to close due to the covid. Our state is lumping us into a later tier for reopening so it could still be a while for us. Many of our clients are asking about buying gift certificates, and we normally hand write them, and sell them in our shop. Since there's a demand, and we're likely going to be closed for at least another month I'm wondering what you guys have found to be the most efficient way to sell gift certificates online? I was thinking of linking cash app to our bank and just writing and mailing them out? I'm wondering what would be the most efficient way you guys have found to do this for a low tech business with no online store. Thanks!

    submitted by /u/kungpaochicken12
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    Can a admin message me

    Posted: 12 May 2020 05:13 AM PDT

    Why was my entire process and experience about my PPP loan deleted ? Your kinda messed up. I'm a real person and account just because I'm new doesn't mean I'm a troll and because it's Kabbage I know this sub feels a sorta way about them. Also I'm not new I've been locked out of my old account from a domain I stopped renewing from a old business been here for 12 years ! Thanks for wasting my finger power !

    submitted by /u/just-cruising610
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    CREDIBLY - anyone funded?? Please alert all of us?

    Posted: 11 May 2020 03:55 PM PDT

    CREDIBLY PPP

    Has anyone received emailed promissory note from Liberty/Celtic/Credibly? Has anyone been funded yet?

    submitted by /u/huckfatersclothing
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    I made a customer feedback tracker

    Posted: 12 May 2020 12:37 AM PDT

    When building our last product we made a big mistake that we didn't listen to our customers enough. Then last year we build a product using no code to track the feedback of customers and it helped a lot. ( It won Product Hunt makers festival tools for teams ). Later talking to other founders we found this as a common mistake. Hence we build this ground up a platform to collect feedback from customers. Please give it a try.

    Anyone who signs up gets the product for free for the base plan. Please give it a try and let us know if this helps you https://www.featuremonkey.com/

    submitted by /u/gauthamz
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    Traditional IRA and S-Corp

    Posted: 11 May 2020 06:01 PM PDT

    Hello,

    Mom owns 100% share of the S-Corp she runs. She got paid $65k last year as part of her "officer compensation." She contributed $7k to traditional IRA.

    If her S-Corp had a net profit of $100k which will be rolled into her individual income, then her income becomes $165k.

    Then will her traditional IRA contribution no longer qualifies for tax deductions? If it does not qualify for tax deduction, then how can she ensure that she does not pay double tax on traditional IRA when she withdraws it?

    Thank you.

    submitted by /u/jwsa456
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    UK - What to do about an order with a company which is refusing to reopen

    Posted: 11 May 2020 01:47 PM PDT

    We ordered a delivery before lockdown. It is essential for us to complete the works for a client.

    This company happens to be the only trade company in this industry I can find which is still closed.

    We previously took a credit note for an order at the beginning of lockdown which another client was not happy to wait for (as most other people were still open). Current clients were happy to wait so we said thats fine.

    We still have no answer from the company and need to move forward and order from another company.

    This whole problem with this company has really hit our cash flow.

    Are we being unreasonable to ask for a refund rather than another credit note?

    submitted by /u/StipaIchu
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    Employee Retention Credit – do owner's wages count?

    Posted: 11 May 2020 05:44 PM PDT

    The IRS's FAQ on the topic of wages qualified for the ERC addresses the question, "Are wages paid by an employer to employees who are related individuals considered qualified wages?" It spells out that wages paid to people with certain relationships to the employer, such as siblings, parents, children, etc., cannot be used for the ERC.

    I can't find any mention here of whether or not the owners themselves can claim this credit on wages they pay themselves, just that "self-employed individuals are not eligible for this credit for their own self-employment earnings." My assumption is that in this context, I am not self-employed nor am I receiving self-employment earnings, I am an employee of the S-Corp receiving W2 wages.

    However, in searching for answers to this question, I've come across a few different blog posts / articles by CPAs that specifically state that an owner's wages CANNOT be used to claim the ERC. But I've also found several similar articles that say such a person's wages CAN be used with the ERC.

    Does anyone have a definitive answer on this?

    submitted by /u/macphoto469
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    Anyone else in the Janitorial Industry?

    Posted: 11 May 2020 01:50 PM PDT

    I own a small Janitorial Company. We focus on comercial spaces. I am interested in speaking to owners of other Janitorial Companies to share information about how to manage a Janitorial Service during this time.

    submitted by /u/Janitorialcmpny
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    Tier 2 phone number no longer???

    Posted: 11 May 2020 01:17 PM PDT

    Has anyone tried to call the Tier 2 number for EIDL today 1-877-641-8202? Looks like that number is no longer a Tier 2 number....puts you on hold and then after a bit tells you what caller you are...I was 136. Guess I won't be calling that number any longer.

    submitted by /u/tsantacruz1969
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    Doing Payroll In-house

    Posted: 11 May 2020 09:03 PM PDT

    I'm looking to do my payroll my own. Does anybody have any recommendations on the proper tools to assist me?

    submitted by /u/PimpDaddyDwarf
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    Need Website Criticism and Suggestions

    Posted: 11 May 2020 06:35 PM PDT

    I have begun to set up a website for my future (couple of months from now) IT Support business.

    http://wintechcomputing.com/

    I would love some of you to have a look and let me know what you think, or where you think I could improve! Thanks in advance!

    submitted by /u/Winticles
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    My friend asked for suggestions for his company name, transporting and recovering motor vehicles as well as doing house moves.

    Posted: 12 May 2020 12:28 AM PDT

    "Looking for a new name for the business. I've got recovery trucks and vans so I'll be doing house moves and transporting goods cars and vans with the trucks too." His surname is Quinn.

    Please suggest away and I'll send them to him. 👍🏼

    submitted by /u/huamanticacacaca
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    Dead Link

    Posted: 11 May 2020 04:50 PM PDT

    Anyone experience something similar to me? So I am SBA Application No. 36000xxxxx.

    So I got the link to "Create your SBA Economic Injury Disaster Loan Portal Account" which leads to a screen to create a password and afterwards you get EIDL Docusign.

    The problem is when I click on link, it asks me to LOGIN as if I already have an account. I don't have one, and also the reset password option doesn't work (no reset email sent).

    I called SBA twice and got two answers (1) I created two separate apps back in April which jammed my application (2) Other agent said false emails were sent asking to "Create your SBA Economic Injury Disaster Loan Portal Account " and valid ones would be sent soon.

    submitted by /u/kramiohc
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    Knight Capital just asked for a voided check and income docs for the 3rd time.

    Posted: 11 May 2020 03:35 PM PDT

    I got an SBA approval number on 4-16. I got an email saying they were sending me to customers bank a week ago. I submitted docs and a voided check weeks ago.

    This experience has been so beyond laughable that honestly I don't even know what to say or do anymore at this point. How is it even possible to be this incompetent.

    Are they just stalling? I just dont get it.

    submitted by /u/beyondreason1980
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    Any input on my EIDL status? How long is the wait?

    Posted: 11 May 2020 01:44 PM PDT

    A friend suggested I post some info here and see if anyone can enlighten me on how long I should wait. I applied March 31st My credit was pulled April 19th I called April 26th and the lady said there was no tier 2 to talk to and since I had received the "Dear Applicant" email, I just had to be patient and wait. My application confirmation number (first six digits) 360020 I have not received my grant or any loan offers. Anyone here have any suggestions.

    submitted by /u/Cucumber_Pie
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    Silence from SBA on EIDL?

    Posted: 11 May 2020 11:42 AM PDT

    I applied for assistance on 4/1 through the SBA quick form on their website. I haven't heard anything on the status of my application. I did receive a check on my credit on 4/24. But still no advance or communication on the loan process. Has anyone had any success after a long wait? SBA only tells me "it is in process." And refuses to look into it further. My app # starts with 3301.

    submitted by /u/M_SunshineCreative
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    small Business pop/vs unemployment

    Posted: 11 May 2020 06:14 PM PDT

    Im a small business with 8 employees and 3 locations. I was approved for the PPP loan.I can't open my doors because I am not considered essential. I just sent a letter to all my employees offering them back their jobs. I must use 75% of this loan to be forgiven. I have 2 key full time employees who make more money on unemployment and don't want to get paid by me! I understand why. question.. How do I use my PPP loan for payroll if I can't pay 75% of it to payroll? They are good employees and I would probably hire them back BUT what do I do in the mean time if i can't use the money? Believe me, I want to! yes I can use some for my rents and utilities .Its not like I can hire new employees. Im NOT open yet. Im so frustrated I can't think

    submitted by /u/employeeMe2
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    Credibly removes SBA PPP Login

    Posted: 11 May 2020 10:05 AM PDT

    Credibly has removed the SBA PPP login from its website and you can no longer check the status of your PPP application.

    submitted by /u/Prometheusmaximus23
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