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    Friday, October 30, 2020

    What office gadget can you not live without? small business

    What office gadget can you not live without? small business


    What office gadget can you not live without?

    Posted: 29 Oct 2020 08:10 PM PDT

    Getting ready to open an office. What gadgets make your life easier or surprise your clients when they come in?

    submitted by /u/zblaxberg
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    What happens if someone forms a company to solely make one big purchase and claim the loss as a tax deduction?

    Posted: 29 Oct 2020 11:20 PM PDT

    I understand if you incur losses 3 of the last 5 years, the IRS can treat your business as a hobby and disallow your business expense deductions.

    Someone asked me what's to stop them from creating a new business to make a big purchase (e.g., car) and claiming it as a business deduction one year and never touching the company again (i.e., report a loss only first year and $0 net income going forward)?

    He argued the chance of an IRS audit would be pretty slim among the millions of other people out there to audit. I hesitated to answer. Thoughts?

    submitted by /u/AccountingNutJob
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    How to end a business relationship with FedEx on good terms in a professional matter?

    Posted: 29 Oct 2020 06:34 AM PDT

    I am in charge of shipping at my company, and we have been using FedEx for a few years now.

    A couple of months ago UPS came by and asked if they could meet with me. I accepted and shared some shipping numbers with them. We negotiated for a couple of weeks, and we finally landed on a percent discount I was comfortable with that could save a few thousand dollars annually.

    We're set to start shipping with UPS next week, and I know our FedEx account rep is going to get alarm bells going off that our shipping dropped off a cliff.

    I was wondering what the best way to handle it is? I still want to remain on good terms obviously. Should I just say we've decided to try out UPS because of their rates, and I hope we can work together in the future? What's the most eloquent way of putting it?

    submitted by /u/JayKayne
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    I’m in the in-home senior care industry, and need to figure out what marketing agencies my competitors are using. How should I go about doing that?

    Posted: 30 Oct 2020 02:41 AM PDT

    I'm located in San Diego, California.

    submitted by /u/Weekly_Struggle3354
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    Where to start as a web developer?

    Posted: 29 Oct 2020 09:33 PM PDT

    Hello r/smallbusiness

    I have been lurking for years reading about incredible founders and businesses hoping that some day my time will come.

    I recently graduated college with a Computer Science degree and had a job lined up but lost the offer because of, well, you know what (also lost my graduation, spring break and much more but that's the topic of another post).

    Now that I am unemployed, I have the opportunity to work for myself and take my internship experience from college and apply it to real world projects.

    I'm looking to hear from those more experienced, possibly in my field. How can an unestablished web developer with high potential get their first client. I'm not looking to work for an agency or post on fiver/Upwork and I do have a small portfolio.

    For context, I recently moved into NYC and was thinking of walking into businesses such as restaurants hoping to get into contact with the owner to offer them my services. I have hesitated to do this because I feel that many other people do this and it's looked down upon.

    submitted by /u/CompEngineer2020
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    Is Twitter good for affiliate marketing?

    Posted: 29 Oct 2020 09:53 PM PDT

    I had a decent last 3 months in affiliate marketing. Planning to start on twitter so want to hear your thoughts on twitter.

    submitted by /u/browncows9
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    Try the SquareUp estimate/invoicing app and let's do a referral code swap

    Posted: 30 Oct 2020 03:47 AM PDT

    Hey all,

    Anybody else use Square Up estimates? I was upset with the service fees until I discovered this little estimate tool that works well for my very small business.

    Also, if someone signs up DM me and we can swap referral codes to get no service fees up to 1000 for the next 3 months.

    submitted by /u/JesusWasAgayMan
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    AITA: Full price for non-profits

    Posted: 29 Oct 2020 11:31 AM PDT

    I own a small I.T. business. We have a handful of non-profit customers. And another handful I know through networking groups that have courted us for services.

    I've never worked for or been directly involved with a non-profit, so I may have no idea what I'm talking about here.

    Every single one of them has asked us to give them stuff for free since they are a non-profit. I always say no, and will sometimes offer them some sort of reasonable discount instead. They always seem incredibly offended and put off by my response. Had a lady today call me and say they need new fast workstations, monitors, speakers, Office 365, the whole 9. And she says "A lot of companies will donate this kind of stuff to us" I told her I could work her up an estimate and it was just dead air.

    AITA? Or are they just trying to tug on heartstrings and squeeze everyone in town into giving them free stuff? I'm not opposed to charity and donate to organizations I believe in, but the umbrella of non-profit covers a lot and I am not interested in handing out freebies to every single one of them in town. I realize I could make the donation a deduction, but a bird in the hand.

    Non-profits, is this normal behavior in your world? For profits, do you encounter this a lot and how do you respond?

    submitted by /u/draziwkcitsyoj
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    Anyone started a virtual/ghost kitchen?

    Posted: 30 Oct 2020 02:48 AM PDT

    I would like to have a chat with people who used or built a restaurant doing deliveries only (no sitting in). Anyone experienced with this?

    submitted by /u/mpbeau
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    Has anyone actually cracked customer referrals?

    Posted: 29 Oct 2020 03:52 PM PDT

    I keep on hearing driving referrals from existing customers is the most efficient way to bring in new business (hard to argue with I guess).

    Has anyone had any success with this? If so, how have you set up your business to drive these referrals?

    submitted by /u/greeeeenwich
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    Wyoming registered agents

    Posted: 29 Oct 2020 07:49 PM PDT

    Has anybody used this company? This company list there fee as 25 dollars a year but i could never get a hold of them. If nobody knows of this company could you help me with some references to a Wyoming registered agent that would be reliable?

    https://www.wyomingagents.com/

    submitted by /u/sfish53
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    Who is your 401K fidelity bond vendor?

    Posted: 29 Oct 2020 02:51 PM PDT

    Hello fellow small biz owners, our company is looking for a 401K fidelity bond provider (ERISA Bond). We've got a generic list from DOL/Treasury.

    And if you don't mind, what are you guys paying per $100K of 401K assets? DM privately if you like.

    We are a small "mom and pop", not a megacorp.

    Thanks in advance!

    submitted by /u/cobymoby
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    I launched on October 1st and have 1 sale

    Posted: 29 Oct 2020 09:09 PM PDT

    I was wondering if anyone would give me any tips on how to get more sales, I have been open for almost a month and just got my first sale 2 days ago, Idk if it's because I haven't been open long, or if nobody wants to buy anything. Any tips or advice is appreciated (www.minimeboutiqueky.com)

    submitted by /u/MiniMeBoutiqueKY
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    Small (Family) Business and Succession

    Posted: 29 Oct 2020 04:44 PM PDT

    Unfortunately, I have WAY too much experience in my Dad's family business. Regretfully, he started exhibiting forms of dementia and forgot that I was right there by his side to protect him.

    Here's a story where I showed what I thought was absolutely undeniable business initiative. And all I got was a dressing down in front of the other employees.

    Just pass the Alpo. And remember, there are no guarantees in life.

    https://thebernardolcottstory.com/2017/07/13/alpos-appeal/

    submitted by /u/plusplusjames
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    How to get customers to trust you when shipping things far away?

    Posted: 29 Oct 2020 08:28 PM PDT

    My wife sells used lululemon clothing online (Facebook Marketplace) and the business definitely has definitely taken off. We've done $86,000 in sales YTD with an average margin just above 40%. Occasionally we get out of town people who want to buy her stuff. The issue is the out of town buyers are nervous to pay because they don't know if we will actually ship it to them. We obviously want the money upfront too. It's worked several times primarily because my wife has a 5-star FB marketplace rating with 55 reviews. We normally agree to take a photo of the package being put in and shipped at the post office and we also send them a picture of the receipt too. My question is, are there any services out there that are not too complicated that can facilitate trust in this transaction so my wife could expand her market reach?

    submitted by /u/burgeroburger
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    New business partner strategy

    Posted: 29 Oct 2020 04:33 PM PDT

    I'll start by saying I've been fairly successful on my own for the last 6 years, make 6 figures personally with little to no overhead and Covid did not really effect me much at all. I have a client that has recently asked me to become a partner in a different venture, basically in exchange for my expertise, I earn a share of all profits and a salary based on what we can bring to the table. I want to set up a new LLC first and foremost, but I have some concerns about the partner and his spending habits. Would it be logical to require all checks to have both of our signatures to be cashed and no debit cards on the account to ensure everything is always above board? I would continue my own company and this new venture would basically be a $100k a year gig with more $$ based on contracts and profit through the year. There is no cash in for me, only time and there is no possibility of losses other than time as well. I am thinking I should also have an employment and partnership agreement outlining responsibility for each of us and expectations as well as a clause to exit if things don't go as planned. Thoughts?

    submitted by /u/MomofGeorge
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    would anyone be willing to check out my shop and give me tips?

    Posted: 29 Oct 2020 09:58 PM PDT

    my shop just launched today, it's mostly for fun, but I'm looking for any pointers and suggestions I can get!

    submitted by /u/kagehiinaa
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    Do you put your bank wire transfers on your invoice? What all information needs to be included?

    Posted: 29 Oct 2020 02:12 PM PDT

    I haven't accepted payment through a bank wire transfer before. Anyone have hands on experience with accepting payments this way, and have any tips to keep in mind? Is it standard to include the bank wire details on your invoice?

    From what I am seeing, these are the main things to include

    Bank Name

    Bank Address

    Bank Account Holder's Address

    Account Number

    Routing Number (within USA)

    submitted by /u/CCS101
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    Building my company, I'm looking a solution for custom labeling my products

    Posted: 29 Oct 2020 02:08 PM PDT

    Hi All,

    I'm working to open my small business soon, I hope I'm in the right place to ask this. I'm located in the US and I'm looking for ideas, companies who can help me printing labels on my products. Most of the products are powdered leaves in different sized zip lock bags. 1-16 Oz each. I've seen other companies print everything directly on the plastic bags and mark whatever it is in the bag with a marker, others have their labels printed, put it on the bags and an additional small sticker says the type of the products. I'm looking for an easy and cost effective solution. Any suggestions? Can you please give me some links I should check out? Thanks in advance!

    submitted by /u/salty_greens
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    Does anyone have experience with Fairling?

    Posted: 29 Oct 2020 11:38 AM PDT

    i found this by chance: https://info.fairling.com/

    One of my clients is interested in selling abroad (Finally!) and this "network" seems to sell around Germany and the rest of Europe. I know that they are based in India,.

    I was hoping someone knew them. Thanks!

    submitted by /u/pmyourkeys
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    How would you personally ship these 2 products?

    Posted: 29 Oct 2020 05:27 PM PDT

    10" x 6" 2lb metal plate: https://cdn.shopify.com/s/files/1/0285/9637/1559/products/baby-wallplate-acrylic-light-stand-attachment_1024x1024@2x.jpg?v=1590174127

    20" x 12" 1lb Acrylic Sheet with protective film: https://cdn.shopify.com/s/files/1/0285/9637/1559/products/white-acrylic-sheet-20x12_1024x1024@2x.jpg?v=1594402823

    How would you pack this securely? My biggest challenge is making sure the 2lb Support Plate doesn't become mobile and damage the acrylic. What mechanism is the best cheap safe option for me to achieve this safely? I am thinking:

    1. Box the 2lb plate first in a 10" x 6" x 0.5" box, and leave it loose with the acrylic in a box similar size to the acrylic

    or

    1. Find a mechanism that the 2lb plate "pops" into at each side to keep it secure. Need suggestions...

    I have access to 20" x 12" x 1" boxes - or anything else you can think of. Thanks for your suggestions in advance!

    submitted by /u/workphlo
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    Employee vs sub-contractor pros / cons questions.

    Posted: 29 Oct 2020 05:47 AM PDT

    Hello everyone!

    I am running very lean operation and currently i am the only person constantly employed. (i am not on payroll, but pay myself as SMLLC pass through)

    I am dealing with 15 contractors who perform the tasks.

    They are in control of their part, but very often i provide suggestions how to improve, provide better service to customers, etc; and i am close to ask myself if it will be more beneficial to move to employee relationship. (so we can improve quality of service). I have couple of questions:

    1. Is there "efficiency loss" of money transfer from business to employee comparing to business to contractor? I mean if company pays $100 per job total (including payroll tax, work comp, etc) does employee receives same amount after all taxes, insurance, etc comparing to $100 per job paid to contractor after contractor pays all needed taxes, wc, etc?
    2. If we transfer to employee relationship, can it be still part time? I mean i pay only when employee is free to do the job (he can reject it if not available), so some weeks/months total payroll will be high, sometimes smaller / or even 0. And he is free to accept other gigs or even part time job.
    3. How difficult is it to fire employee comparing to sub-contractor? I try to work only with people who deliver quality, so i want to make sure that i won't be required to keep someone on payroll if he performs poorly.
    4. Is it fine if company does not have pension / retirement plan? Lots of people I work with are already "retired" - seniors who quit their job, and now do something they love and get some pocket money - so I don't want extra complexity.
    5. Are there any other possible pros/cons i should i think off?
    submitted by /u/rtwyyn
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    How do you guys measure the want of a new product line before launching?

    Posted: 29 Oct 2020 12:46 PM PDT

    Have an idea for a new food/bev product, but interested to see how others have analyzed market desire before commuting to a new product development. Paid survey? Friends and family inquiry? Other cool ideas to help? TIA!

    submitted by /u/a_big_bugg
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    C Corp dissolved by Sec of State's office for non-payment of taxes..?

    Posted: 29 Oct 2020 12:21 PM PDT

    Formed a C Corp in Missouri in 2014, and gave the running of the financials to the accountant that helped set us up. Checking today on the website, the record in the search results for my business says that the corporation status is "Admin Dissolved/Cancelled". There is a notice from 2018 "Dissolution for Failure to Pay Tax(es)."

    Am I reading this right? Is my C Corp gone? Help me parse this, please!

    submitted by /u/mapsedge
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