My 9-5 employer is contracting my side business and claiming this work is Miscellaneous Income as part of my employment. small business |
- My 9-5 employer is contracting my side business and claiming this work is Miscellaneous Income as part of my employment.
- The Single Prolific Issue Holding Up All PPP 2.0 (PPS) Loans. !!!
- What is the Best Free Invoice App?
- How do you do your market research? Any suggestions
- What is the most valuable (read:costly) lesson you've ever learned as a business owner?
- LLC - losing money in 3 out 5 years strategy
- Just started a 3D printing business!
- Business owners: How do you build your website?
- Who are the most successful business owners you know and what do they do?
- Andy Crestodina & His Advice To Digital Marketers
- I was approved for a PPP loan through Ready capital since I’m an independent contractor. This loan will be forgiven right? I don’t have to pay it back?
- SOS: Itemized listing of personal property
- SeIIing Followers (Instagram, TikTok)
- Selling followers (Instagram, TikTok)
- Small Streat wear brand discord and Instagram come check us out
- UL/ETL Certification and Business Insurance
- Husband and wife in different trades, how should we structure ourselves?
- Looking for Advice-Dog Park/restaurant,bar
- Need help with applying for a CA seller's permit
- Best Practice for Establishing a Shop Minimum Charge
- Party fishing boat
- USPS Form 1583 help with one field
- Inadequate leader syndrome
- Trying to get started
| Posted: 02 Mar 2021 06:21 PM PST My employer, to whom I am am a salaried employee working in marketing, is contracting my small business to provide video production services for a few thousand dollars. I've never been in this type of situation and want to make sure they (and I) are doing things properly. My business is a single member LLC with an EIN, if that matters. I issued them a contract for the work which includes a fee for renting my equipment. They're claiming additional work like this becomes Miscellaneous income (for labor) and added to my regular paycheck - and the equipment rental can be a contract and a reimbursement. This doesn't seem accurate to me as they're hiring me separately of my employment for this work. Any advice appreciated. [link] [comments]  |
| The Single Prolific Issue Holding Up All PPP 2.0 (PPS) Loans. !!! Posted: 02 Mar 2021 01:03 PM PST To make a very long story short, after much research, I have determined most to all of these error codes causing applicants applying for a 2nd draw PPP (PPS by SBA) are coming from the original lender of your first PPP. The issue lies within your lender is not sending the 1502 documents to the SBA which closes the loop on your forgiven or paid off PPP. 1502 also reflects status if you are current on your loan if not forgiven. (https://www.sba.gov/document/sba-form-1502-sba-form-1502-instructions) Originally I believed it was the SBA messing this up for applicants, however, it is the lack of clerical work by you lenders. Lenders were given proper guidance by the SBA last year on this. This code and all other codes. If you are applying for a 2nd draw PPP 2.0 (PPS) and are getting kicked back, declined, or showing duplicate tax ID, duplicate approvals, then this is the issue. If your loan on CAWEB is showing PAYOFF NOT APPLICABLE this is your issue. Your loan should say PAID IN FULL. (If you were forgiven). Please view the thread: https://www.reddit.com/r/PPPLoans/comments/lwbarw/how_to_solve_duplicate_tax_id_approval_at_any/ on how to solve your issues before time runs out. [link] [comments]  |
| What is the Best Free Invoice App? Posted: 03 Mar 2021 02:46 AM PST A quest for finding a trully free invoicing app - it's more difficult than one would think. [link] [comments]  |
| How do you do your market research? Any suggestions Posted: 02 Mar 2021 05:31 AM PST Hey guys! I would like to start a small ecommerce business and grow my brand(small business) Recently i noticed this company https://introspectivemarketresearch.com/reports/e-discovery-software-market/?utm_source=reddit but I cant rush to it yet because I don't know much about it. I am open to any suggestions [link] [comments]  |
| What is the most valuable (read:costly) lesson you've ever learned as a business owner? Posted: 03 Mar 2021 02:50 AM PST We were discussing fraud in another thread and it got me thinking about the $2000 loss I incurred by accepting a very suspicious e-commerce order and not doing my due diligence. I was inexperienced and saw dollar signs. But this pales in comparison to the $8000 I lost when I pre-ordered a special order product for a client that never re-ordered. Basically I got the first PO and it took us 2 weeks to complete the order. The client suggested that future orders were imminent and that we should have the material ready to ship next time. Well I think you can predict what happens next.... That next order never came and I had to scrap $8000 in special ordered materials. ALWAYS get a PO for advance orders. What are your most valuable lessons? [link] [comments]  |
| LLC - losing money in 3 out 5 years strategy Posted: 03 Mar 2021 12:27 AM PST Hello everyone I'm interested to start a small consulting business (software) and a youtube channel (travel). I'm mainly interested in LLC for the tax benefits reason. I understand that if the business is losing money 3 out of 5 years, IRS will declassify it to a hobby. My question: let's say I spend a lot of money to buy equipment (camera, etc.) and travel expenses on year 1,2, and 3 which resulted in losses each of those year. Then on year 4 and 5, I stopped travelling and just focus on making money and stay profitable, would this setup works ? I'm based in Seattle (WA). Thank you [link] [comments]  |
| Just started a 3D printing business! Posted: 03 Mar 2021 03:53 AM PST Ever wanted to 3D to print or design something? But don't have a 3D printer. We will print it for you. Are website is https://3ddesignsandprints.godaddysites.com/ Check us out! [link] [comments]  |
| Business owners: How do you build your website? Posted: 02 Mar 2021 08:44 PM PST I am curious to know from other business owners how you go about building your website? Do you attempt to build yourself or do you go ahead and work with an outside developer? And if so, how do you go about sourcing that kind of work? It seems that a premium is placed on high quality websites, but often times it can be difficult to know where to start. Just wondering how people go about this. [link] [comments]  |
| Who are the most successful business owners you know and what do they do? Posted: 02 Mar 2021 12:19 PM PST Who are the most successful business owners you know/know of and what do they do? What industry? Do they one a franchise? The More details the better! [link] [comments]  |
| Andy Crestodina & His Advice To Digital Marketers Posted: 03 Mar 2021 02:16 AM PST Recently I watched a youtube video with Andy Crestodina(https://www.youtube.com/watch?v=qbjf0_lywxo&feature=youtu.be) - co-founder and the Strategic Director of Orbit Media, an award-winning 38-person digital agency in Chicago. Before this video, I wasn't familiar with Andy and his business. But this is hilarious! I decided to write down some quotes I like and discuss them with you! Please share your thoughts.
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| Posted: 02 Mar 2021 04:16 PM PST |
| SOS: Itemized listing of personal property Posted: 02 Mar 2021 07:40 PM PST A friend and I opened a tattoo shop in October and we recently got a document in the mail from our County Assessor asking for an itemized listing of the depreciable assets the business has. Our tax lady needs a similar list. I understand the general definition of depreciable assets but I'm over thinking the whole thing and am confusing myself in the process. I have some questions: It's labeled a "listing of personal assets", so does that mean we write in our assets we've personally purchased through our individual bank accounts or do they have to be items we've purchased as the business? For example we purchased tattoo beds individually, not through the business, and they are depreciable equipment. Our tattoo machines are also depreciable but we had them long before we started the business. Would we list these items? I guess what I'm getting at is: is there a line between personal and business in this scenario? If we include these personal items on our list for the business would it prevent us from being able to claim them while doing our personal taxes? Should I make separate lists for the business tax lady and the county assessor? I'm sorry if I sound like a jumbled mess. I've been reading through our state handbook, talking with people, and I can't quite seem to get and a consistent answer I understand. I'm just having a hard time thoroughly getting it through my skull. Any help would be greatly appreciated! [link] [comments]  |
| SeIIing Followers (Instagram, TikTok) Posted: 03 Mar 2021 12:24 AM PST My service sends you the amount of accounts purchased as followers to your account in the span of 1 week (%14.2 every day) to avoid your account getting banned. If banned there's refunds or adding followers to another account. [link] [comments]  |
| Selling followers (Instagram, TikTok) Posted: 03 Mar 2021 12:20 AM PST My service sends you the amount of accounts purchased as followers to your account in the span of 1 week (%14.2 every day) to avoid your account getting banned. If banned there's refunds or adding followers to another account. [link] [comments]  |
| Small Streat wear brand discord and Instagram come check us out Posted: 02 Mar 2021 11:53 PM PST |
| UL/ETL Certification and Business Insurance Posted: 02 Mar 2021 11:47 PM PST The company I work for is looking into purchasing a large motor stator recycling machine from China and are concerned with the void in insurance claims if something were to happen. What would be the best way to either certify the machine or somehow make it where it's not a liability for future unseen insurance claims? The machine is CE certified but I am in California so I'm unsure if CE is enough. I'm pretty confident in the company and believe their machine to be safe, i'm just covering all my bases. I've been browsing the web and unfortunately can't seem to find a UL or ETL certified version of this machine. If anyone has experience with this or knows a way to make this happen it would be much appreciated. I know I can get it field tested from certain agencies but which one is reasonable since we will possibly be buying multiple different machines from them? Thanks! Machine: https://www.mayslynn-recycling.com/dz-stator-recycling-machine-3665464.html [link] [comments]  |
| Husband and wife in different trades, how should we structure ourselves? Posted: 02 Mar 2021 04:13 PM PST I am a dog groomer starting my own business and my husband does HVAC and wants to start his own company. Should we do two separate LLCs or a start a trust together or an S corp (whatever that is)? I've done a bit of reading but me shave dogs, me wash dogs (I don't know what a lot of what I'm reading means). I guess like most business owners I want protection from being sued and a low tax bill. My business is being run out of my workshop on my home property if that makes a difference? [link] [comments]  |
| Looking for Advice-Dog Park/restaurant,bar Posted: 02 Mar 2021 11:39 PM PST Hi there, I'm a recent newly grad from the University of Missouri- Kansas City. I'm looking to open up a dog park that also offers bars/restaurant's within one our own suburban areas. Dog parks modeled like this are extremely popular in Texas and are slowly growing nation wide. Within the Kansas City metro we only have one, that's around 20-30 minutes away from our suburbs (where I reside). I've been thinking about this business idea for a while now, but have been extremely overwhelmed. I don't know where to start. There's not only issues with finding the perfect property that fits my needs, but to funding, and I could go on for days with issues that overwhelm me. I guess by biggest issues is that I don't know where to go from having an idea and what to do from here. Any Kansas City business owners or really anyone that can give some advice or tips on what to focus on starting off? How to get the funding? How to find the real estate? How to the project off the ground from an idea to a real business? Or in what order the steps need to taken to be most efficient? Thanks in advanced! [link] [comments]  |
| Need help with applying for a CA seller's permit Posted: 02 Mar 2021 11:24 PM PST Hi everyone, I'm trying to apply for a seller's permit on the CDFTA website, and I'm on the step where it asks for your SSN, Drivers License, FEIN, SEIN, etc. I do not have the FEIN or SEIN, so I just put my SSN and DL number. My friend was able to move past it while avoiding entering the FEIN and SEIN, but for some reason I can't move forward. It says "Please provide any additional ID's or contact the CDTFA help line about continuing your registration". I'm definitely considering on calling CDFTA, but anyone have an idea as to why it won't let me move on? [link] [comments]  |
| Best Practice for Establishing a Shop Minimum Charge Posted: 02 Mar 2021 05:26 PM PST So I currently run what's essentially a small manufacturing business. Had been essentially the sole operator as the owner was fairly detached from the business, and we had been profitable under my management. Covid hit us really hard though and now the owner is back actively involved, specifically over the finances which is expected. We actually started a whole new division awhile back and that division has gotten very busy during all this. Lately his focus has been on establishing a higher shop minimum which is something I am strongly opposed to. This side of the business is a lot of short custom runs, which is a stark contrast to our main business of much longer and larger jobs with much more complicated machinery. A number of jobs in this division can be completed in an hour or even half that. He wants to more than triple the rate I have been using. Which I know will end up losing us a lot of the business. We serve other manufacturers so the only thing really stopping them from setting this up themselves is convivence. Then once they are setup that means they can just the longer runs themselves as well so we can really set our selves up for failure there I think. I see kind of giving away the smaller work as a way to retain the bigger work as well. I've effectively been right on this too as a lot of customers that send us these short runs also then send us a lot of the bigger work as well. The way I see it too, there is essentially no difference between doing two jobs at one rate or doing one in the same amount of time for double. The advantage though is as I said before, but also that we keep busy. We keep machines hot and people working which sets us up better to do other work. It will be a lot harder to get that one job at double or triple our current rate, and then we have to fire up machines and staff them for half an hour. We have to do that same if I charge less, but lately I've been winning a lot of them so once we are setup we can keep going. I just feel like he has kind of an old school way of looking at this. Industry has changed and run sizes have decreased in general and budgets are smaller. He seems pretty well convinced that I am 100% wrong and that fighting for volume is wrong. How does anyone go out establishing their min cost? I see multimillion businesses in our industry doing jobs for $30, so how can they do it and we cant? The argument that it costs us more than that just to write the work ticket seems pretty far fetched. We have bills to pay regardless of if we get work or not, and therefore the more jobs we get the less they cost right? Also pre-covid the business was profitable going this way, so it seems like it was working? I know the market won't bare what he wants to charge so we will end up losing a lot of work. Increasing this minimum increases our prices as a whole so we could end up losing bigger work as well. I've lost jobs over dollars as it is. I've worked out with our accountant how much we should charge for an hour of our time already. So shouldn't our job min be based on that? If I know for a fact that from estimate to invoice a job takes 30 minutes or less, then why not charge accordingly? So I guess my question is, Am I wrong on this? I don't have an MBA or anything so I am not an expert. What am I missing? How do other businesses go about establishing a min charge? [link] [comments]  |
| Posted: 02 Mar 2021 07:23 PM PST My father passed away last week from covid at 59. My siblings and I are trying to get a handle on his estate, and one of the things he owned was a controlling interest in a party fishing boat that seemed to be marginally profitable pre covid. He wasn't the operator and this tends to be an all cash business. Does anyone have an understanding of the economics for running this type of business, and what the margins should be? I am looking to setup a call with the operator/captain/minority partner later this week to let them know about my dad's passing and I would love to have a better understanding of the business. [link] [comments]  |
| USPS Form 1583 help with one field Posted: 02 Mar 2021 07:01 PM PST Hello everybody [link] [comments]  |
| Posted: 02 Mar 2021 12:56 PM PST So I did it, I built a small business and three years later we have over 4m in gross sales and we are profitable. Hurrrrrah! So why do I feel panic about our size, cash flow, payroll, etc etc. I am so stressed I find myself not doing what I should be doing to keep the business running. Anyone else felt this way? How do you get back on track? It feels like it's all out of my control right now. Looking for commiseration and ideas for coping with the stress of managing this entity. [link] [comments]  |
| Posted: 02 Mar 2021 10:34 PM PST Hi all, I'm new to this sub, and mainly seeking advice for how to get started on my own. I'm 24, and I've been working in maintenance jobs since I was 16. I'm finding that I'm really good at drywall and painting houses. In fact, my new employer hired me on that basis in order to not have to pay so much to have a contractor do it. I've worked several houses independently in the last year, for friends, and even bidding low because it's just for friends I've been able to make a decent bit of cash, and I'm realizing there's opportunity here that far exceeds what I'll find while punching a clock. My problem is, I have no idea how to kick off. I know if I could consistently even get 2 house painting contracts per month, I could double my current income, but I don't know how to find the work. I don't understand much about how to file for a sole proprietorship or LLC, or how the taxes work, or if/how I need to report to IRS about paying helpers. (I'm in Texas if that's useful info.) My most recent painting job I've done has also been really discouraging, mainly because I didn't bid the job high enough and now I'm eating a lot of costs, so I know I need to be better about accurately planning my expenses and time to do a job. I do feel discouraged though, so any encouragement you might have along with your advice would be seriously appreciated!! Thanks in advance! [link] [comments]  |
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