An employee quit while owing the business money small business |
- An employee quit while owing the business money
- A customer called and said she had the coronavirus. What do we do?
- Single-Member LCC Income
- How to import from China the correct way.
- I have permanently closed my cafe due to state-mandated pandemic shutdowns and restrictions, and now my landlord is suing me for the balance of my lease payments. Anyone else?
- Looking for Advice on Talking Prices
- Is it worth it to get an LLC or stay a Sole Proprietor in my case and can I switch later?
- Wave's ACH fees are 1% - Anyone know what Xero's ACH fees are?
- Need Good Book(s) Recommendations
- How to Pay Yourself?
- Question for HVAC, Furnace People
- The reason you need a social media manager
- I have an idea/product with demand. Do I continue to refine it or pull the trigger and get the ball rolling?
- Restaurant Phone System Help and Advice
- Salaried employee filed a wage claim after caught stealing
- lawsuit question?
- Looking for banks to finance my used car sales
- "when" would you open a second store?
- Which marketing tactics would you pay for, and which ones would you rather do yourself?
- Confusion about resale certificate?
- Plumbing Spiffs
- How to make working for urself feel like work
- Can a US-based LLC operate overseas?
| An employee quit while owing the business money Posted: 27 Aug 2020 06:42 PM PDT Hello all. I'm in need of some opinions and advice. My wife and I own a business selling baked goods. We had a meeting on Wednesday with our employees about opening and closing for the day: procedures, sweeping, mopping the kitchen, etc. we didn't point any one employee out because they have all had some issues with skipping certain steps in our procedures. Like not turning on the open sign, opening the money drawer. Little things like that. After the meeting was over, we asked one of the employees to stay back so we could talk to them. We mentioned that they hadn't finished closing the night before and asked them to please try to get everything done on the list. Shortly after that, this employee went to lunch. About 30 minutes after they left, I get a text that basically said thanks for the opportunity but this is no longer a good fit for me. I immediately texted them a few times to see what they were talking about and they won't answer back. We've tried calling also and it goes to voicemail. Here's the problem: several months ago, this employee moved into an apartment and needed a loan to get their lights turned on. I lent the employee $500 cash. We also just bought them shirts to wear with our company logo. Those were around $150 or so. This employees last paycheck would be paid next week and totals about $520 before taxes. Can I legally keep their paycheck to pay back the money owed? [link] [comments]  |
| A customer called and said she had the coronavirus. What do we do? Posted: 27 Aug 2020 12:16 PM PDT Hello, we run a business in New York. A customer from a few days ago just called that she had the virus. What do we do? Do we have to all shut down and quarantine? Thank you [link] [comments]  |
| Posted: 27 Aug 2020 06:20 PM PDT Hi small business owners! This year I started a small business that rents items to other people for a very short period of time. I registered as a single-member LCC in Colorado which I understand the IRS considers that the same as a sole proprietor (i.e. income/loss reported on personal 1040...please correct me if I'm wrong). So, let's say I make $1000 in net profit this year. How do I "pay myself" with that money both from an operational standpoint and a tax standpoint? Thank you! [link] [comments]  |
| How to import from China the correct way. Posted: 27 Aug 2020 08:35 PM PDT Hi, I've been buying vape products and atomizers for my store from China and since then friends have been asking about them (other store owners) and I've been selling to them wholesale. The Chinese suppliers never asked for my tax id or anything and I'm thinking of expanding and import a much larger quantity of product but I don't really know the legality of importing these items some of which do contain nicotine salts. [link] [comments]  |
| Posted: 27 Aug 2020 02:06 PM PDT This is an independent, self-funded cafe opened in 2016 in PA with a 5-year lease. LLC has zero assets. [link] [comments]  |
| Looking for Advice on Talking Prices Posted: 27 Aug 2020 08:59 PM PDT TLDR: Bride wanted an antique dress remade, I wasn't aware of the extent of work needed and said I'd work with her $200 budget. Do I take the loss or try to charge her more? I have a very small alterations business I run out of my home. It's a side hustle and I've only used it as extra income in the past. Of course with COVID, this year I've been depending on it more as income. I had someone contact me about a wedding dress they had purchased from an antique store that they wanted altered for them. They had thought they would do the alterations themselves, but were running out of time. I can't remember exactly how she phrased it over the phone, but I thought it would be just to alter it to fit her. She asked to stay within $200 and I said that would be doable (like an idiot). When I see the dress it's all seam ripped into pieces and she told me she wanted a different fabric but wanted to keep the lace. I said I would do it since her wedding is coming closer and I can't seem to say no to people, or tell them it's going to cost more than the initial quoted price. I've been working on it and I've spent close to 20 hours on it, so I should be charging her at least $500. It's been made to fit her precisely and I've done all the things she has wanted me to. Generally I don't do custom sewing because I don't know what to charge and, in my experience, people can be difficult when it's a custom item. I'm not a confrontational person at all, but I did go to graduate school to learn how to do all the intricate things I'm doing so I know I should be telling her it's going to cost more. Basically, I guess I'm asking do I stick to the initial quote? Or do I tell her it will be more because it ended up being more work? [link] [comments]  |
| Is it worth it to get an LLC or stay a Sole Proprietor in my case and can I switch later? Posted: 27 Aug 2020 06:02 PM PDT I've been doing Ecommerce and Arbitrage at home and I do have stock brokerage accounts, but beyond that I'm single and quite literally don't own any real estate nor car. I have almost no paperwork and have just been doing this for a while now and from my understanding an LLC simply protects you from assets if you're rich. In that case, is it really worth it for me to get an LLC? Can I switch over later on from a sole proprietor to an LLC if I end up registering my business and actually trying to get licenses and documents with it later on? Add-on question, will going between an LLC or Sole Proprietor influence how I do my taxes, since right now I write off many of my expenses that I spend individually, not sure if it makes it more confusing if I now have to divide them up? [link] [comments]  |
| Wave's ACH fees are 1% - Anyone know what Xero's ACH fees are? Posted: 27 Aug 2020 10:22 PM PDT I am looking into an online accounting service for a digital marketing agency. The main features I'm interested in will be general accounting an expense tracking, and more importantly, invoicing. Since it's just the beginning, I'm not too worried about all the excess features of the service. Wave being free is great, and seems like it has added a ton of new features and works really well to start, but accepting online payments for invoices sent to clients charges a 2.9%+$0.30 fee for debit/credit card charges (which I believe is typical for card charges regardless of service, correct?) and a 1% fee on ACH payments direct from a bank account. I feel like this amount could add up quickly. I was curious what Xero's ACH online payment fee was, if anyone knows? I wasn't able to find it anywhere. I know Quickbooks Online via Essentials or Plus or etc plan charges $1.50 per transaction for ACH payments, along with 2.9%+$0.25 for debit/credit card payments (if anyone uses QBO and disagrees with that or believes I'm wrong considering their experience, pls lmk), which would end up being a lot less than 1% for basically anything over a $150 invoice. And while I may not be super interested in excess features at the moment, I do think it may be in my interest to pick the better (subjectively) service off-the-bat, rather than picking 1 then switching later. TLDR; What's Xero's ACH online payment fee? is it a set percentage like Wave (1%)? or more like a steady set fee like Quickbooks Online ($1.50)? Thanks! [link] [comments]  |
| Need Good Book(s) Recommendations Posted: 27 Aug 2020 10:19 PM PDT I am in the process of opening an ABA clinic with my wife who is a BCBA. I've never personally owned and operated a company before so I know little about the business taxes, HR, Insurance, Payroll, and legal side of things. I'm looking for book recommendations geared towards those areas but I'm having a hard time finding ones I like. I prefer books that are practical and applicable. Not interested in entrepreneurship style books like E-Myth or 40 hour work week. I read through Profit First recently which I loved and plan on applying. Disclaimer: I don't plan on doing all of these tasks myself so I'm not looking to be an expert in the area but at least understand the basics and what I should know as a new business owner. For example, I am planning on using Gusto to outsource payroll. [link] [comments]  |
| Posted: 27 Aug 2020 12:14 PM PDT A co-worker and I decided to branch out and start our own web design agency. We have been in business for a few months and have made a few sales. Both of us still work at the current company so we have left all of the revenue in our bank account because we weren't sure the best way to pay ourselves. We are an LLC and each own 50%. We charge for the original design/buildout and then a monthly reoccurring fee for SEO/maintenance/hosting,etc.. What is the best way for us to pay ourselves to minimize our taxes? Here is a link to our site in case the services we provide changes things: www.BrickHouseWebDesign.com Thank you for all your help! We have learned a lot from this sub. [link] [comments]  |
| Question for HVAC, Furnace People Posted: 27 Aug 2020 09:19 PM PDT I live in a community where there are lots of seniors. Can I offer them a service of merely replacing their Furnace Filters without me having any HVAC licenses/permits etc? My assumption is YES, considering that the homeowner can do it themselves without having any qualification. But will doing something like this on commercial scale require any permits/seals/insurances? [link] [comments]  |
| The reason you need a social media manager Posted: 28 Aug 2020 12:40 AM PDT Every business should be on a social media platform but not a lot of business owners understand the platform and it can be confusing. Thats were a social media manager comes in, he or she has the knowledge to navigate any social media network. They can ensure that your business will get the attention it deserves to bring customers to your store or website. They set up accounts for you and manage each account so you can focus on running your business. But bewared it can be pricey and they charge $ 50 to $ 70 dollars an hour to manage your account but rest assured if you get a good SMM it will be worth every penny. [link] [comments]  |
| Posted: 27 Aug 2020 04:53 PM PDT I am an electronics engineer who designs industrial controls. I know software, firmware, minor mechanical design, setting up production... etc... I designed something as a Christmas present for someone with a certain very popular hobby. Everyone I mentioned it to who has any interest in this hobby cuts me off before I finish describing it, "I want one!". Needles to say, I stopped telling people about it. It is novel, on the cutting edge of technology, solves a problem that costs people a fair amount of money over the years, etc... I have a working prototype and am at what you may call the 80% point. I could sell it as it is and people would buy it for sure. However, I haven't had a chance to buy parts in qty or even make minimal effort to reduce cost. Everything works but needs polish. I know the software, mechanical, electrical, etc... but would like experts in those areas to flush everything out (really more man hours). What do I do? I could build up 10 of these things and sell them now for a profit and go from there, or should I take time to refine it? If I built these in any fair quantity I could cut my materials cost by 1/2 at least. I've been wanting to start my own business for years and now I feel like I have something ready to take off. Do I form an LLC, get a lawyer and make sure I'm legal, find some talent w/ NDAs? Or just shoot from the hip? I need that initial point in the right direction. I may reach out to some family members that are successful business owners. I know this is a vague question but it is what it is. I oversee production of my own products at work so production is not a problem. I suppose I need to know, should I refine until things are perfect or get the ball rolling now? [link] [comments]  |
| Restaurant Phone System Help and Advice Posted: 27 Aug 2020 01:07 PM PDT Have a small family owned local pizzeria and we are looking to upgrade our current phone system. Currently, we have ATT UVERSE Business Internet and Phone. Our current system is just 1 phone number and line with a Cordless phone. Our internet speed is 25mbps. Business has grown and we would like to update our system. Currently, we have issues at Peak Hours where multiple people call and it goes to voicemail and we at times lose business due to this reason. I am currently looking to switch to another system or alternative so that we can keep customers on hold/park calls and have multiple lines. Priority is a good phone system (in which the speaker is loud as our ovens are running and it is loud at time), good customer service, and reliable phone service. Also affordability. Would love to hear some advice and feedback from others on systems you currently have and use (preferably in the restaurant business) and systems you do not recommend [link] [comments]  |
| Salaried employee filed a wage claim after caught stealing Posted: 27 Aug 2020 04:36 PM PDT Not sure if this is the right sub, so I apologize in advance if not. We had to let go of an employee because they were stealing from the company. We have no intentions of pressing charges, but we're a little surprised when we got a wage claim and a notice to appear in court. The employee claims he is owed overtime, vacation, and sick pay. We can obviously prove that this person is not owed that. He took multiple paid vacations within a year that was unapproved, has taken off as many days as they needed when they were sick or had to stay home with his children (all 100% paid). And is on salary and very rarely works overtime, and is exempt from overtime regardless. Just wondering what I should expect to happen when I go to court. Edit: this is in CA [link] [comments]  |
| Posted: 27 Aug 2020 04:14 PM PDT I work part time as an independent contractor for a small business owner along with a handful of other people. One of my colleagues was fired by this business-owner last year for violating a non-compete clause. He then went on to launch his own full-fledged competitive company. Now the owner of the small business I work for is suing this person and has asked me for a statement and to work with his lawyer (just by giving a statement I think and possibly sharing some communications I had with this person). I believe the other employee is in the wrong here because he stole clients, but am also worried about being involved in any kind of lawsuit. Just wondering if anyone has any advice for how to proceed? [link] [comments]  |
| Looking for banks to finance my used car sales Posted: 27 Aug 2020 04:05 PM PDT HI Reddit. I am starting a used car business and am looking for banks that will finance the used cars my clients will be purchasing. Any suggestions on the best banks for me, as a dealer, to use? I also want to explore the leasing of used cars to my clients [link] [comments]  |
| "when" would you open a second store? Posted: 27 Aug 2020 04:02 PM PDT We just opened a clothing store recently. As in on July 30th. Spent about 20k getting everything ready. From 7/30-8/27 we gross 13.5k. profit is around 50%. Rents not bad. I know this is a very short period of time to be of an example but the location of were we are is very nice. I don't need to advertise ( online or physical) as the location draws in a lot of attention. If you have this to go on how long would you wait till you open a 2nd store? I'm looking for any general advise. Thanks! [link] [comments]  |
| Which marketing tactics would you pay for, and which ones would you rather do yourself? Posted: 27 Aug 2020 12:13 PM PDT For example, would you rather run you own ads and get instructions or hire someone? What would you rather outsource to an expert? [link] [comments]  |
| Confusion about resale certificate? Posted: 27 Aug 2020 12:32 PM PDT I'm kind of confused about when this is needed? For example, if company Z is looking for product A and they are located in California. Do I need a resale certificate if I purchase product A myself after locating it and then have my supplier (aka the company that has product A) send it to company Z directly (after adding some profit myself to the initial cost)?? Company Z is technically buying it from me correct? Even though it is another company that is basically supplying the product. [link] [comments]  |
| Posted: 27 Aug 2020 06:00 AM PDT Hey guys, I'm looking to get a spiff program together for our plumbers on service calls. I don't even know where to start...can anyone point me in the right direction? These guys need incentives! [link] [comments]  |
| How to make working for urself feel like work Posted: 27 Aug 2020 03:23 PM PDT Hey I was wondering if anyone had any suggestions on how to make working for urself as streamlined and regemented as working for an employer would be. I have found that I really really struggle to get going on my own ideas in my room at home (still live with parents).I have worked many many jobs since I was 11. I am a great employee because being in the work environment makes me extremely productive. Just wondering if anyone went through something similar and could give suggestions on how to break through that mental barrier at home. [link] [comments]  |
| Can a US-based LLC operate overseas? Posted: 27 Aug 2020 11:02 AM PDT I formed an LLC in Delaware to to be able to serve my US clients. I develop software and occasionally import consumer electronics to my home country. I operate my business from the Philippines only. My concern is, can my LLC operate outside the US? For example, can it operate in other countries without additional requirements? If not, can I form small companies in those countries and make my LLC the owner of those companies? Another is, can my LLC own assets in the US without me being a US citizen? Thank you in advance! [link] [comments]  |
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