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    Sunday, November 8, 2020

    Sales Tax Audit? small business

    Sales Tax Audit? small business


    Sales Tax Audit?

    Posted: 07 Nov 2020 06:53 PM PST

    I recently organized my etsy store into a formal business. In talking with a person at the tax office (I needed help figuring out how to do things correctly), they told me I should put the date I opened my etsy store as the start date, and that I could enter in back-dated information without any issues. I didn't have any sales last year (actually lost money). I reported this in the business portal where I file my sales tax info each month. Since etsy takes taxes, I report the total amount sold each month, and add that same total to exempt sales and submit it.

    Today I received 4 certified letters from the tax office stating I owe them $30,000 in back taxes, fees, and other charges due to "delinquent filing". This is only for 3 months of last year. I haven't stopped having a panic attack in hours and I don't know what to do. I haven't even had that much in sales in the lifetime of this company - let alone that much in taxes - and if I'm liable for that money.... I'm going to lose my house. I don't make that much at my day job in a year.

    I could really use some advice or help. Please.

    submitted by /u/crikfromcincy
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    Nothing We Didn't Already Know

    Posted: 07 Nov 2020 07:00 AM PST

    More than a dozen sources also said they personally felt pressure to mislead business owners, from loosely explaining howyelp's products function and exaggerating those products' efficacy, to purposefully obfuscating how billing works, and inventing stories about their own identities and backgrounds. Some admitted that they had knowingly sold to people who didn't understand what they were buying. Others said they witnessed their colleagues act in ways they considered duplicitous. And more still said they fielded regular complaints from angry business owners who felt misled by other Yelp employees.

    submitted by /u/manwithavandotcom
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    Business processes and employee management

    Posted: 07 Nov 2020 05:23 PM PST

    I work for a small retail store, there are 2 owners and 6 employees. I am working on ways to make our communication and business practices more efficient but I need a little help.

    Our owners don't work the store front very often and are distanced from the day to day sales and inventory. On top of that they both work full time in addition to owning the store. They do all of the product ordering and input inventory. The problem is that they order things we don't sell frequently and often in much higher quantities then needed. And since they aren't in the store very often they don't know what we are actually selling or what the customer ask for. Our inventory is almost always off and names of products aren't uniform. How do we make this more efficient?

    Also there aren't really expectations of what to do during shifts except for help customers when they come in. Only a few of us are trained on inputting new products. We need routines and process on how to do things but I don't even know where to begin.

    How do you run your small retail business, how do you make it efficient?

    submitted by /u/little_hippo
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    rental car company seeking ways to automate before/after pics OUTSIDE of platforms like Turo, Outdoorsey

    Posted: 08 Nov 2020 02:33 AM PST

    is there a company that offers this service that anyone knows of? needing this process to be more streamlined, but I can't find what I'm looking for.

    is it a zapier?

    Thanks for any help!

    submitted by /u/scubajunky
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    As a small business owner, do you care about online reviews?

    Posted: 08 Nov 2020 02:11 AM PST

    Do you care what your reviews look like on Google, Yelp, etc?

    If so, would you pay someone to get REAL positive reviews from your former customers?

    I'm wondering if a small business would be willing to pay someone to go and get positive reviews from previous customers and if so, how much that would be worth to them.

    submitted by /u/second-rate-hero
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    Investing business funds in low risk investments - how?

    Posted: 07 Nov 2020 06:15 PM PST

    Hi All,

    My previous tax preparer convinced me to file as a C-corp instead of an S-corp for 2019. Apparently, because of Trump's tax changes (most notably, the lowering of the corp tax rate) I would save a lot of money in taxes.

    However, what she didn't tell me is that I'm locked into this change for 5 years and that I am exposed to double taxation (corporate tax and then income tax on and distributions).

    As I have to pay myself a pretty high W2 because of a defined benefit plan, I don't really need to take any distributions. As such, my business checking account is likely to be growing to $1MM or more in the next year.

    Sorry if this is a stupid question: Can I open, say, a Vanguard account in my businesses name and keep funds in this account and hopefully grow them as an investment instead of having them sit in a zero interest bearing checking account?

    Or are there any other creative ways I can invest these funds? I can't buy real estate as I live in the SF Bay Area and would need quite a bit more to entertain an idea such as buying building or office.

    Thanks for any help.

    submitted by /u/throwaway12321143df
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    how to use simple IVR (call routing) system to make outbound sales calls

    Posted: 07 Nov 2020 11:49 PM PST

    pretend you are an insurance sales agents. let's say you want to make a call to a list of verified leads. you want to automate calling by using pre-recorded audios and dial in options. for example:

    "hi this is insurance company x, do you have life insurance? press 1 to say Yes, press 2 to say No....etc

    can I use twilio to build this out?

    submitted by /u/wilsonckao
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    Hosting/Website Help

    Posted: 07 Nov 2020 11:29 AM PST

    So I'm starting a VERY small business, and need advice on best domain name registration site and website help. Small boutique type shop going to run through something like Square or Clover.

    Advice on the best out there? Heard bluehost was solid?

    submitted by /u/allisfairinAthens
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    what are some business assets a startup needs?

    Posted: 07 Nov 2020 07:59 PM PST

    I'm looking for branding experts. lots of them try to upsell and overcharge . but reading around and comparing services, its mostly reading material your buying.

    for example, lets say I'm starting an online cat food distribution. its called "meow chow". branding experts would try to sell me:

    1) logo

    2) business card, letterheads

    3) social media banners, images

    4) packaging design

    5) brand guidelines

    6) style sheet

    id say the first 4 are what you truly need. numbers 5 and 6 are literally the same and are toilet reading material like what colors should I use? what fonts should I use? you are the owner and you let a company tell you you can't type in a certain modern font? 10-20 pages of a pdf telling you to use certain colors and typing in certain font. literally 20 page pdf telling the business owner that they can't use bright colors under any certcumstance

    really, the 6 items mentioned above some sellers charge 10,000$ for, when the only real assets are 1-4 which the customer will see, and 5-6 are optional "fyi" stuff?

    is there anything I'm missing form this list? for $10,000?

    submitted by /u/MissKittyHeart
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    Private truck driving

    Posted: 07 Nov 2020 07:44 PM PST

    I'm currently an MR driver working for a small company, I have an HR License and am looking at possibly buying my own truck soon, and want to leave the company and work for myself. I am a little clueless as to how I would get everything up and running though, where do I go for contracts? Is there some kind of starting point? In Australia if that helps.

    submitted by /u/Emjeibi
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    How do you guys protect your personal info and data from your customers? Do you use cyber security insurance? Any good recommendations?

    Posted: 07 Nov 2020 08:35 AM PST

    Hello, me and my partner run a small e-commerce business. We are based in California.

    submitted by /u/soundwilldo
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    Question about marketing recycled polypropylene.

    Posted: 07 Nov 2020 10:47 AM PST

    This may be a weird question, and if this is not an appropriate place to post this question, let me know and I will delete it. I'm an engineer working on a method of recycling polypropelene plastic. I'm almost done. Right now I'm just putting tweaks to improve efficiency. Polypropelene is a sturdy, common plastic that lends itself well to recycling but for various reasons is not recycled in the United States. Almost all straws are made of polypropylene and, for some reason, just about all plastic products (cups, straws, etc) from Starbucks are polypropylene.

    So, what's the problem? I wouldn't mind making a little bit of money off of it but I have no idea how to go about doing that. I'm an engineer not a marketer. Does anyone have any ideas or suggestions how I would go about finding people who might purchase stocks of this material?

    The only idea I have right now is to shape it into cutting boards and see if I could sell to someplace like Bed, Bath, & Beyond. Anyone have any other ideas? I'm all ears!

    submitted by /u/GeminisTail
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    Are these features enough for a marketing tool?

    Posted: 07 Nov 2020 04:35 PM PST

    Name: Brand Overflow

    URL: https://brandoverflow.com/

    Brand Overflow is a go-to SEO tool for the SEOs & Digital marketers of this era. Providing great features at much lower prices than the industry dominators without sacrificing any quality.

    Features:

    These are the current features we have and I want to know what more the community is looking for in the same plan. We will keep adding as per the feedback. Is this all what an SEO/Digital Marketer asks for from a tool or does it need some more refinement in terms of data or new features?

    1. Rank Tracker:
      Lets you track the keywords in any country you want along with the dynamic report sharing capability for your clients.
    2. SERPs Lookup:
      No more captcha filling. Use our SERPS lookup with no restrictions on the region and get the most updated SERPs on any keyword.
    3. Ad Explorer:
      See what is the current CPC and Ad difficulty on your keywords. Yes! Just one Click away.
    4. Keyword Tool:
      Find the best insights for your primary keyword and its relation with secondary keywords.
    5. Keyword Generator:
      Gives you the complete functionality of answerthepublic.
    6. Question Explorer:
      Gives you the latest questions that people are looking answers for along with the reference on which site the question was asked.
    7. Backlink Tracker:
      Just upload your backlink and let this beast handle the rest. It will check daily if your backlink is still on the URL you uploaded and creates a daily log in details tab too. ;)
    8. Domain Insights:
      Complete insights of any domain you want to look for. Either your client, company or own website. Just click and let the magic began.

    Note: Some new secret features & the new UI of website & dashboard are in final stage and rolling out next week too...

    submitted by /u/mosamakhan
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    Printing

    Posted: 07 Nov 2020 04:09 PM PST

    Hi! Can anyone recommend a good printing service (posters, cards, tops etc) that isn't too pricey. I want to start selling my digital art and create a small business from it.

    submitted by /u/I_cum_Stars
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    Is it cheaper to file an LLC yourself or through Legalzoom?

    Posted: 07 Nov 2020 02:44 PM PST

    Beginner here need help thx

    submitted by /u/Guccipurpdrank
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    HELP

    Posted: 07 Nov 2020 02:05 PM PST

    Okay so im new to this...i got an se1900 embroidery machine and im trying to get my own designs onto the machine. I do have a usb flashdrive but its not reading the design and i looked up how to convert it to .pes its not working so help do i need to buy something extra?

    submitted by /u/briannant23
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    How to improve Facebook ROAS

    Posted: 07 Nov 2020 10:18 AM PST

    ( Only for people that use Facebook ads as their traffic/sales generator)

    Hey everyone, here are a few simple tips to implement that will dramatically change your results on Facebook ads. ‍ When launching ad creatives it can be very time consuming and costly to find out what ad is going to perform best....

    To get a head start on this you can actually launch ads that have been proven to work...

    So when you start testing your ads you not only get a higher ROAS but you cut the amount of time it takes to find a winning ad in half. ‍

    1. Find proven successful ads.

    The quickest way to do this is by going to Facebook Business success stories and then choosing the industry you are in.

    Once you find a company that is similar to yours you can actually see what ad they ran to generate a high ROAS.

    Then you can simply format your ads the same way in advance...

    This increases your chances of being able to get a high ROAS substantially... ‍

    1. Archive all of the ads you find.

    Find as many ads you can that would be worth testing and archive them so you can model and format your ads the same way later...

    1. Go live with the ads.

    Once you have all of the ads created...

    Launch them into testing and see what performs best...

    1. Understand why the ads are successful. ‍ Start analyzing why an ad is performing so well.

    Try to find out if it's the image, copy, headline, button, or call to action that is driving the high ROAS.

    You need to constantly ask yourself "why?" ‍ The more you can figure out why an ad is successful the more you can optimize future ads to be even more successful.

    Those are the quickest and easiest steps to find ads that convert so you don't have to come up with new ideas and reinvent the wheel yourself.

    submitted by /u/Salesstore
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    Getting started with a storefront?

    Posted: 07 Nov 2020 08:03 AM PST

    In my area, bbq is huge but there's only a few stores. Within a 25 mile radius, there is one store and you can get some big name items, but selection is generally small. I'd like to investigate my own storefront, purchasing wholesale and support business with secondary activity like content, recipes, etc...

    How would I start investigating the viability of this? I don't have small business experience - especially with a physical store.

    Is a storefront worth it or can online only compete? I'm not sure how to research this before I make the big step of buying product.

    submitted by /u/KoreaClippers
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    How to raise capital to open a business.

    Posted: 07 Nov 2020 01:34 PM PST

    I know talking to a bank is the best bet, however my personal credit is not great and I have no cash or collateral for a down payment. I have heard about Angel investors but am a bit leery of them. Croud funding seems like a good choice but is it viable?

    submitted by /u/smackgowen
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    How do I find investors for my business model in a booming new wholesale industry.

    Posted: 07 Nov 2020 05:50 AM PST

    5 years ago I began developing a business model for the cannabis industry. I have been in Adult beverage and Energy drink wholesale for 20 years and used that experience to develop a seed to shelf model.

    2 years ago; through the hard work of petitioning the State, we were able to get it legalized medically. The laws were established in an almost identical method to Adult beverage sales.

    I have two years of market research and so far have only seen one other company in my state use a similar model, but they exist on the other side of the State. They are killing it; however, it is lacking in numerous categories such as logistics, market strategy, and distribution.

    This is a huge endeavor, and I would need upwards of $250,000 to launch. My estimated ROI would be 18-20 months.

    I have talked with numerous (15-20) millionaires; sometimes for 10-20 hours, about the possibility of investing. Always using a NDA, but they all are timid about the legal aspects of this new industry. I have a few very active and knowledgeable lawyers on call that have helped with the legislation and the transition of my States laws. They are willing to help us navigate the letter of the law and I have put a lot of trust in them. Regardless of that, I'm still getting cold feet from investors.

    Any help or advice would be greatly appreciated.

    submitted by /u/Lordcobbweb
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    Recommendation for an appointment scheduling website

    Posted: 07 Nov 2020 01:11 PM PST

    I am currently eyeing either Squareup or Setmore for letting customers set up appointments for lessons at a driving school. I am open to checking out other sites as well. Any recommendations?

    submitted by /u/dededeRenascent
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    cashback

    Posted: 07 Nov 2020 12:10 PM PST

    what bank or company do you guys use for cashback or rewards?

    submitted by /u/Jangulo34
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    Let’s talk phone numbers

    Posted: 07 Nov 2020 05:10 AM PST

    I'm slowly piecing everything together to get my business going and currently on the phone number part, I'm going to go with an app (grasshopper I believe) so I can have a second separate number on my phone since I don't have a retail or area that customers will visit. This is where I'm stuck. Local area code number Or a vanity number (866) xxx whatever I was leaning toward the vanity but not sure how many people really use those anymore?

    submitted by /u/Dmurphy2016
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