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    Tuesday, March 9, 2021

    Chase doesn't give a shit about you if you are Sole Proprietor filing schedule C small business

    Chase doesn't give a shit about you if you are Sole Proprietor filing schedule C small business


    Chase doesn't give a shit about you if you are Sole Proprietor filing schedule C

    Posted: 08 Mar 2021 08:39 PM PST

    Finally opened a bank account for my business (was using PayPal business) because Chase requires it to apply for the PPP. Sat with the chase rep opening the account, savings, and credit for over an hour.

    Found out today it was all worthless bc they arent even going to help me file for the PPP bc im schedule C. What a waste of my time, and im pretty sure the rep knew it. After trying to secure the PPP for the second time after 2020 fiasco looks like im going to miss it again. THanks chase.

    More like Chase.com/Don'tCare

    submitted by /u/grizz123456
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    Starting a business while on unemployment

    Posted: 08 Mar 2021 07:44 PM PST

    I had posted this question on the unemployment sub but didn't get a single response so I thought I'd try here instead.

    I'm a professional gardener and as such my company had me on job attached unemployment through the past few winters. This year due to several factors I was unable to secure child care and so my availability changed and they were no longer able to accommodate me. I'm still on unemployment but without being job attached I'm subject to the job search requirements.

    My old employer has always been awesome and has now given me a few small but reliable clients to start me on my own business. My tiny advertising budget has given me several more consults for estimates in the next few weeks and I'm now quite confident that I can actually make this happen. Being a business with low overhead, I actually think I can start paying myself within the next month or two if necessary, but it would be nice to hold off a while longer to put all my revenue into building up some operating capital. I will have more costs when it comes to planting season in May and I'm not sure I'll be able to set up any credit accounts with vendors so I'll need some more cash at that point.

    Let me be clear that I do want to stay compliant with the rules of unemployment. No fraud. I just don't want to have to look for a job I don't intend to keep. I really want to put my energy into building my business and this is really the best time to do so. I read on the state website (Colorado) that efforts to grow your business and attain new customers are acceptable for the job search requirements but I didn't find anything in their drop down boxes that matched.

    Has anyone been through this while building their business? Any insight at all would be very appreciated.

    submitted by /u/Lopsided_Prize3391
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    How should I go about hiring someone to fill many roles?

    Posted: 08 Mar 2021 08:24 AM PST

    I work at a small business with 4 full-time employees and one part-time employee including myself. I am planning to leave the company and I need to find my replacement before I leave. As everyone on this subreddit is aware, small business employees fill a lot of roles. I am struggling with how to go about searching for someone to fill my position when I'm not even sure what to list as a job title. The company is a manufacturer of machinery, but I personally do CAD drawings, assemble machinery, repair machinery, manage inventory, provide tech help to customers, take customer orders, communicate with existing and new vendors, and whatever else needs to get done.

    I'm just not sure how to advertise for someone to do it all, not that someone needs to know everything coming in but they do need to be willing to learn a lot of different skills fairly quickly.

    EDIT: To answer some of the comments that people made, I am not the owner but I am the son of the owner. I am moving to a different company. The three other full-time people that work here have no capacity for any more responsibilities and I often take up what they can't handle in addition to my own responsibilities. We could afford to pay one full-time employee to replace me. We would prefer someone full-time since there is a bit more accountability and we always need someone to answer the phone and talk to customers.

    I realize the task of finding someone to fulfill this role, in the same way, is pretty much impossible but I figured any input that might guide me in my search would be helpful.

    submitted by /u/braaapstustustu
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    I will build someone a website for free in exchange for a freelancer review

    Posted: 09 Mar 2021 02:23 AM PST

    Hey I'm a programmer with some free time so I will make someone a (simple) full stack website for free for any small business they may want to start in exchange for a freelancer review

    (Only reply if your serious)

    submitted by /u/OnlineDealz
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    PPP 2.5 Gross

    Posted: 08 Mar 2021 05:19 PM PST

    Hello!

    I am an owner of an LLC with my wife. We have no employees , I was curious our LLC would qualify for Biden's 2.5 Gross PPP Loan provision?

    Thanks in advance!

    submitted by /u/capitalcreators
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    In a scenario are you allowed to use you first business money to start a second one?

    Posted: 08 Mar 2021 07:05 PM PST

    I'm thinking of starting my first tshirt business hopefully this year with dropshipping but I want to make it more personal with the "second brand" with custom tags, stickers etc. Now to be clear I still haven't my first one and it my be a don't get to excited situation but I would like to know beforehand.

    Thank you in advance :)

    submitted by /u/mattiscool3
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    What business license should I get as a self-employed artist in NYC?

    Posted: 08 Mar 2021 04:56 PM PST

    Hi all,

    This is my first time posting in this group so please let me know if I should post somewhere else.

    I'm a self-employed artist in NYC and I've only just started to sell work and contract for others. Most of the time, I'm working as an assistant for other artists as a 1099 contractor. I sell work, but most of my income comes from 1099 positions. I'm anticipating making 30k this year with maybe 10k being from selling artwork.

    What kind of business license should I get? When would it make sense to establish an LLC?

    submitted by /u/BoardAccomplished449
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    Internet Presence Questions

    Posted: 08 Mar 2021 07:17 PM PST

    I have a small insurance agency specializing in Medicare products. I've been working with an ad agency, they generally I'm pretty happy with. They've done my website and Facebook builds and manage my FB page. I like what they're doing, but it's not resulting in any new business. I've bought a couple other domains that point to my main website and when I do random Google searches like a potential client would perform, I'm no where to be found. I understand things take time, but I'm a little frustrated. What is everyone else doing to increase their online presence, with results?

    submitted by /u/geetarman84
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    How to Find Content Ideas for Social Media

    Posted: 09 Mar 2021 03:51 AM PST

    One of my most frequently asked questions is "What do I post on Social Media?" When we start our online journey as a business it is easy to get burnt out and have your mind blocked. This usually results in a lack of consistency on Social Media, as well as an overall dislike for your accounts. You should be excited about your content and the value

    you are offering to your audience. Therefore, I am going to share with you the best ways you can find ideas for your Social Media content, and quickly too!

    1. Search Engines
      So this may seem a little obvious but trust me it is the quickest way to find content ideas that your audience will love. Type your industry/niche into your search engine and make a note of all the blogs, articles, topics, etc that come up. I would also make a note of the "suggested or related" keywords. The content that is appearing on the first page, is highly popular content that people within your industry are interested in. Use this as inspiration to make your content. Take what these blogs are saying, turn it into your own words, and publish it in a different format. Remember, don't copy!
    2. Competitors
      Stop fearing your competitors and start using them! Keep an eye on the type of content your top competitors are publishing and how their audience is responding to it. This will give you a good indication of what people within your industry respond positively to. Pull inspiration from their content but try to make yours even better to attract their audience.
    3. Websites
      There are some amazing websites out there that can help you come up with content your customers are begging to see. "Answer The Public" is one of my favourites as it allows you to input your industry and then generates the most asked questions related to that industry. Write all of these questions down and then over the next few weeks answer these questions in your content. I mean that's how I came up with the title for this blog post!
    4. Ask your Audience
      We make content to benefit our audience, so why not ask them what they want/need from you. Not only will this make your customers feel important and valued, but it will also help you create content that is highly engageable. Create Polls, questionnaires, and quizzes that your audience can interact with to help you develop a bunch of great ideas.
    5. What's Trending?
      Although I have never been a "trends" kind of girl, I do think that some Social Media trends are fun to get behind. Search what's trending on the various platforms you use and see how you can adapt this to your industry. Not only will this help you out of a mental block, but it will also help you produce content that is very popular and may even go viral! (Going viral is possible, trust me, I went viral for the most random video!!
    submitted by /u/conluddd
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    Does business franchise tax for an LLC in the state of Texas have a minimum threshold?

    Posted: 08 Mar 2021 08:28 AM PST

    Like is there a minimum capital a company must have before they start deducting franchise tax? If so, what is the minimum and what % is the franchise tax?

    Or is franchise tax a requirement for all? Even if the company made no profit?

    Edit: Asked a similar questions recently but that was more so geared towards taxing a company in general, I didn't realize there was also a franchise tax.

    submitted by /u/AvailableConcern2523
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    Brother ADS-2400N

    Posted: 09 Mar 2021 03:44 AM PST

    100$ for an easy project

    Posted: 09 Mar 2021 03:22 AM PST

    Small Business : Interaction with Customers We are interested in learning how you communicate with your customers, what your key pain points are and how we can help you! https://app.respondent.io/respondents/projects/view/603fb8d3d6dd5100114540de/small-business-:-interaction-with-customers?referralCode=irinaudrescu-e421bcda0c1a

    submitted by /u/SnooDoughnuts2516
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    Looking for advice on starting a business that specializes in tech support for seniors

    Posted: 08 Mar 2021 09:05 PM PST

    I got the idea working at my current job as a IT technician for a retirement home. I work for the employees mostly, but the place had me do simple things for the residents, as well.

    My question is how viable do you think this idea is? I have a unique perspective into the niche market and already have the soft skills honed from working there for 3 years.

    The business will focus on simple tasks. Router setup, wifi, setup, smart devices and general pc repair as well. I feel the target audience is small enough to get started and it just doesn't seem like a common thing for retirement homes to offer.

    I'll market in a local magazine and drop my business cards at all the retirement communities in my area. Any other ideas I may not have thought of?

    submitted by /u/xian487
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    Has anyone ever successfully gotten their full contract from Pitney Bowes?

    Posted: 09 Mar 2021 02:19 AM PST

    The company will send lease renewal documents but never the full document. In fact they sent nine pages of ascii code in a pdf when I asked for the original and then acted like the ticket was closed. My predecessor signed the contract and I have no idea what the terms are. Anyone successfully gotten customer service from them?

    submitted by /u/letsgobiking
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    Health insurance costs for a subcontractor?

    Posted: 09 Mar 2021 02:17 AM PST

    Hi everyone,

    I'm a self-employed consultant, and I am fortunate enough that business is going well with one of my main clients. I've previously partnered with a couple of other experienced professionals who take care of their own financials, taxes, etc in delivering on the work, but now I want to try to offer a paid summer internship to students affiliated with a program for first-generation college students from low-income backgrounds at my alma mater.

    It is extremely important to me that any intern I hire is (1) paid fairly, and (2) covered by decent health insurance. By definition with the intern pool I want to target, it is more likely that some of my potential candidates who I would most want to offer the work experience will also be uninsured without me stepping in as an employer, even though this is a pretty small business. A few questions:

    1) What are my options? I've started looking at Freelancers Union etc, but which other services have others used, with good value-for-money?

    2) Budget. I am certain I will be able to offer a reasonable rate of pay (my absolute floor will be living wage) on top of covering insurance, but for budget purposes and so I can advertise appropriately, how much would I be looking at for covering someone probably aged 18-24 for ~2 months and living in the East Coast?

    3) Logistics. My plan is to offer 100% reimbursement for any health insurance costs the student intern has, based on them giving me a quote - we'll work out the payment logistics so that they are not out of pocket. They will file a W-9 as an independent subcontractor for what I pay them, and I'll advise them to put some of their pay aside for taxes rather than me withholding. Am I missing anything big in terms of the tax compliance or other logistics though?

    submitted by /u/7j7j
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    How to choose a business sign maker

    Posted: 08 Mar 2021 11:11 PM PST

    I'm looking to have an exterior sign made for my auto sales/repair shop and wanted to ask what questions you would ask to narrow down to a good sign maker. Are there certain materials I should ask for, design services etc?

    Looking to make a rectangular sign maybe 3ft by 6ft possibly 4ft by 8ft depending on cost. I like the 3D pop out look but assume that is very expensive? Lighted would be even better but again assuming cost would exponentially increase.

    Thanks in advance for any input you can provide!

    submitted by /u/SigBoi
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    Data usage and challenges

    Posted: 08 Mar 2021 11:07 PM PST

    Hey everyone! I'm interested in learning about how you guys utilize data within your businesses, and particularly about challenges you face with data, whether it is collecting, storing, analyzing, etc. I'm especially interested in learning about what tools you wish you had, and what I could do to better enable small businesses to use data to their advantage. I would greatly appreciate any insights you all would be willing to provide!

    submitted by /u/Perfect_Principle688
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    In need of help setting up company for my father

    Posted: 08 Mar 2021 10:47 PM PST

    Based in California, currently the company is a sole proprietorship under his name. He wants as much protection for himself as possible so I figured we'd set it up as an LLC. There will be only 3 or 4 employees. He's currently looking at a warehouse to rent and he gave me a Certificate of Liability Insurance that the landlord gave him and told me to figure it out (I have no idea what that is). I was reading up on signing leases under new businesses so would he sign it under his personal name or the business name? I'm probably gonna be here a lot asking for help so thank you in advance.

    submitted by /u/pm_me_your_last_pics
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    Question about what paperwork I need to get from contractors, and what to do with it.

    Posted: 08 Mar 2021 02:02 PM PST

    These are probably very basic Business 101 questions, but I couldn't find the answers with a quick google search so I thought I'd see if someone can give me a quick rundown here.

    I'm an indie filmmaker and I started a single entity LLC in Pennsylvania a while ago because I needed it to get E&O insurance for a feature film in order to get distribution. Now that that is all behind me, I'm looking to bring on a freelancer to do some prep work for my next project, but I want to make sure I have them fill out the appropriate paperwork, and then once that is done, what do I do with it?

    For example, if I'm hiring a freelance graphic designer to make a pitch deck and we agree to a flat fee of $1,000, do I need them to send me an I-9, or a W-4, or what? And do I submit that to the IRS when doing my taxes at the end of the year or is there a different process?

    Sorry for the dumb questions, I'm kicking myself for being a filmmaker rather than a business major...

    submitted by /u/RandomStranger79
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    Should I register my lawn and landscape business?

    Posted: 08 Mar 2021 10:35 PM PST

    I am 19 years old and I run a small lawn and landscape business with roughly 25 clients and I was wondering whether or not I should legally register as a business. Is it best to form a sole proprietorship or should I register as an LLC? Should I invest in insurance? Any advice that you could give me would be greatly appreciated!

    submitted by /u/evan_hardy3
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    401K - Custodian clause stating we are on the hook if Recordkeeper org doesn't pay them?

    Posted: 08 Mar 2021 10:31 PM PST

    Hello,

    I'm looking at a company to handle our 401K program and when reading the contract I noticed language in there for the Custodian, that if the Recordkeeper does not pay them their % then we are on the hook for their compensation and also their legal fees.

    The recordkeeper company we're looking at said this is only an issue if they suddenly went out of business (Duh). I'm unclear as to how big that pot could be too.... one month's worth or could it be months in arrears or longer before it becomes known....

    In contracting, I guess that would be like a mechanics lien but seems strange nonetheless.

    Is this customary?

    submitted by /u/ExR90
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    New Place - Partnership and/or low-income housing?

    Posted: 08 Mar 2021 06:43 PM PST

    Hello friends!

    My wife and I run a small business (event rentals, mostly weddings), and we're outgrowing our space. We need a fairly big warehouse. We live in a remote tourist destination. Property is expensive, and housing is limited here.

    So we have been thinking about killing two (or maybe even three!) birds with one stone. We have 2 or 3 "complimentary" businesses to ours that also need new buildings. We are considering buying some land (zoned for light industrial), putting up an office building/warehouse for us to share, and then adding low income housing above it that we can either use for locals who are having trouble getting housing, or for seasonal employees that we hire. Then this would kind of the "wedding complex" for the town, where people could come and do one-stop-shopping for a couple different things.

    So my question is...um...like...where do we start? I reached out to a real estate agent, but are there any good funding sources for those? Any good ideas on a structure? Anything else you guys are thinking about that I should know? We're thinking of specifically don't low-income apartments above it because (a) that's what our town needs and (b) we think maybe we can get some additional funding or grants or something.

    Note, this is a plan we are just starting to think about, so while it seems like I am ignorant, it is because I am but I'm trying to do everything I can to not be ignorant. Maybe it's a stupid idea that won't work, or maybe I'm a Wiley-Coyote-Super-Genius, I really have no idea.

    Thank you!

    submitted by /u/pete53832
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    Lawyer or CPA

    Posted: 08 Mar 2021 08:07 AM PST

    Hello,

    I started an S corp for my property management company in Illinois this year. I have my EIN number and have filed my articles of incorporation along with my business checking account.

    I got a few tips from a CPA but being thats it tax time, he's not really available to answer all my minor questions. Maybe I'm over thinking things but I wonder if I should see a lawyer or continue speaking with a CPA concerning how to handle certain tax situations.

    Over all, I've been separating every business related expense using the business account and I've also been noting all the hours I spend doing repairs or things of that nature. But I don't know whether to pay my personal phone bill and personal vehicle loan through the business account.

    I fund the business through my personal account when needed as I'll generally be taking a loss most of the year until I get more properties to manage. The main goal is to take a loss so I could tie my personal finances into the s corp to pay as little tax as I can.

    Who's the best person to talk to about this?

    submitted by /u/motherphucka
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    signed promissory note ready capital says my application is declined

    Posted: 08 Mar 2021 04:24 PM PST

    I signed a promissory note Feb10 with Ready Capital still to this date has not received any funding. I check CAWEB and it shows approved not disbursed. Ready capital is saying my application was declined not approved. I also contacted my local SBA office and they said I am approved no holds or error messages. Ready capital has sent numerous conflicting emails stating, its declined, its processing, its under review, have you received your funds. but still nothing . Do anyone have any advise.

    submitted by /u/Standard_Priority_63
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    Self employed Year end accountant/ tax question

    Posted: 08 Mar 2021 06:34 PM PST

    Hey there I had a question about doing my year end taxes.

    Im from Canada and started my company in october. How ive done it thus far since im new probably doing it wrong. I work by myself for myself, to pay myself I just take off HST, take off expenses, pay off my business Credit card and take 30-40% off for income tax and give myself the rest.

    Ive been self book keeping on Quickbook Self Employed. Its got about 90% of my receipts and all that. I'm wonder how I go about talking to an accountant about doing my taxes and how much it is and is there anything you wish you knew when you first started. Vague question but just looking for some advice and how to start this process. I also was wondering am I able to claim my vehicle 100%. I basically exclusively use it for work, and my GF/common law has a vehicle and we use that 100% of the time personally.

    I had a question about EI, and how I can get out of paying that since I cant lay myself off, And ive heard i should Payroll myself but does it matter. Or will the CRA get mad at me for technically withholding CPP and Income tax for an entire year; i've also heard since i'm the only one working for my company it doesn't matter.

    Thank you for the potential advice

    submitted by /u/Puck9101
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