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    What if the US government created a national payment processing service to clear transactions that could simultaneously process merchant taxes thereby eliminating the cumbersome tax process businesses go through now small business

    July 06, 2021

    What if the US government created a national payment processing service to clear transactions that could simultaneously process merchant taxes thereby eliminating the cumbersome tax process businesses go through now small business

    What if the US government created a national payment processing service to clear transactions that could simultaneously process merchant taxes thereby eliminating the cumbersome tax process businesses go through now

    Posted: 05 Jul 2021 02:38 PM PDT

    I fucking hate paying taxes in the US. It's an absolute clusterfuck of deciphering language at multiple levels of government, paying what I *think* is the right amount, and then waiting an indeterminate amount of time to find out if I was right based on records I don't have access to.

    What the actual fuck? It's 2021 - just create a clearing service that adds a VAT and abolish income taxes altogether.

    Christ.

    I'm sure this is harder in practice than I think it is but there's got to be a better way than playing compliance chicken with 109387511294120 different agencies that have outdated shitty portals, that can't communicate with each other, and most importantly, can't just send me a fucking invoice to pay what I owe.

    submitted by /u/laughterwithans
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    SBA Loan for acquisition of other business?

    Posted: 06 Jul 2021 02:50 AM PDT

    Basically can you loan to buy your way into a local sector if you have a strong history in said sector of business?

    submitted by /u/porter_beller
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    Intuit to Share Payroll Data from 1.4M Small Businesses

    Posted: 05 Jul 2021 05:12 PM PDT

    Buck this if you own a small business and use the features listed. OPT-OUT folks. Should be OPT-IN only amongst other privacy red flags.

    Financial services giant Intuit this week informed 1.4 million small businesses using its QuickBooks Online Payroll and Intuit Online Payroll products that their payroll information will be shared with big-three consumer credit bureau Equifax starting later this year unless customers opt out by the end of this month.

    Intuit says the change is tied to an "exciting" and "free" new service that will let millions of small business employees get easy access to employment and income verification services when they wish to apply for a loan or line of credit.

    "In early fall 2021, your QuickBooks Online Payroll subscription will include an automated income and employment verification service powered by The Work Number from Equifax," reads the Intuit email, which includes a link to the new Terms of Service. "Your employees may need to verify their income and employment info when applying for things like loans, credit, or public aid. Before, you likely had to manually provide this info to lenders, creditors or government agencies. These verifications will be automated by The Work Number, which helps employees get faster approvals and saves you time."

    An Intuit spokesperson clarified that the new service is not available through QuickBooks Online or to QuickBooks Online users as a whole. Intuit's FAQ on the changes is here.

    Equifax's 2017 megabreach that exposed the personal and financial details of 145.5 million Americans may have shocked the public, but it did little to stop more than a million employers from continuing to sell Equifax their employee payroll data, Bloomberg found in late 2017.

    "The workforce-solutions unit is now among Equifax's fastest-growing businesses, contributing more than a fifth of the firm's $3.1 billion of revenue last year," wrote Jennifer Surane. "Using payroll data from government agencies and thousands of employers — including a vast majority of Fortune 500 companies — Equifax has cultivated a database of 300 million current and historic employment records, according to regulatory filings."

    QuickBooks Online user Anthony Citrano posted on Twitter about receiving the notice, noting that the upcoming changes had yet to receive any attention in the financial or larger media space.

    "The way I read the terms, Equifax gets to proactively collect all payroll data just in case they need to share it later — similar to how they already handle credit reporting," said Citrano, who is founder and CEO of Acquicent, a company that issues non-fungible tokens (NFTs). "And that feels like a disaster waiting to happen, especially given Equifax's history."

    In selling payroll data to Equifax, Intuit will be joining some of the world's largest payroll providers. For example, ADP — the largest payroll software provider in the United States — has long shared payroll data with Equifax.

    But Citrano said this move by Intuit will incorporate a large number of fairly small businesses.

    "ADP participates in some way already, but QuickBooks Online jumping on the bandwagon means a lot of employees of small to mid-sized businesses are going to be affected," he said.

    Why might small businesses want to think twice before entrusting Equifax with their payroll data? The answer is the company doesn't have a great track record of protecting that information.

    In the days following the 2017 breach at Equifax, KrebsOnSecurity pointed out that The Work Number made it a little too easy for anyone to learn your salary history. At the time, all you needed to view someone's entire work and salary history was their Social Security number and date of birth. It didn't help that for roughly half the U.S. population, both pieces of information were known to be in the possession of criminals behind the breach.

    Equifax responded by taking down its Work Number website until it was able to include additional authentication requirements, saying anyone could opt out of Equifax revealing their salary history.

    Equifax's security improvements included the addition of four multiple-guess questions whose answers were based on publicly-available data. But these requirements were easily bypassed, as evidenced by a previous breach at Equifax's employment division.

    The Work Number is a user-paid verification of employment database created by TALX Corp., a data broker acquired by Equifax in 2007. Four months before the epic 2017 breach became public, KrebsOnSecurity broke the news that fraudsters who specialize in tax refund fraud had been successfully guessing the answers to those secret questions to reset TALX account PINs, which then let them view past W-2 tax forms for employees at many Fortune 500 companies.

    Intuit says affected customers that do not want this new service included must update their preferences and opt-out by July 31, 2021. Otherwise, they will be automatically will be opted in. According to Intuit, customers can opt out by following these steps:

    1. Sign in to QuickBooks Online Payroll.

    2. Go to Payroll Settings.

    3. In the Shared data section, select the pencil and uncheck the box.

    4. Select Save.

    https://krebsonsecurity.com/2021/07/intuit-to-share-payroll-data-from-1-4m-small-businesses-with-equifax/

    submitted by /u/drydockn
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    HS Tariff Codes.

    Posted: 06 Jul 2021 02:03 AM PDT

    I'm wondering if anyone else in the UK is struggling with this? Am I missing some awesome trick?

    My items don't come up with any matches on the search. At a push they'd be considered costume / imitation jewellery.

    They're wooden pins, the wood is birch plywood and printed on. The backing is a brass tack coasted with nickel.

    I'm quite lost here, do I list the materials separately or go for costume jewellery?

    With gratitude.

    submitted by /u/ana_diy
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    Potential employee asking for certain benefits

    Posted: 05 Jul 2021 06:05 AM PDT

    We are a new health care based company, looking to hire someone that we would be able to bring straight over, and would require almost zero training. They currently make $21/hour, we offered employee $22/hour. They are unhappy where they are currently due to corporate issues. Fantastic reviews from multiple peers.

    Employee volunteered during interview she is trying to get pregnant. She asked for:

    - FMLA leave paid at 60%

    - Transfer / bonus PTO time due to her years of working at another company. Our policy is you start at 0 and can accumulate up to 80 hours / year that starts accumulating after 90 days employed. She is asking basically to start with 80 hours of PTO in the bank.

    How reasonable / unreasonable is this? She is actively trying to get pregnant, which means in less than 9 months she will be out for potentially 3 months, and getting paid 60%, so we would have to find another full time person, hope they are trained, and pay them, while still paying her.

    As I said, we are a brand new company, we have not even opened our doors yet, so we are trying to be lean. Are these types of requests normal?

    submitted by /u/Extra_Yogurt_1388
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    How to get better results from employees? | 10 tips for getting the best from your employees

    Posted: 06 Jul 2021 04:59 AM PDT

    How to get better results from employees?

    Page Contents

    Employees are the driving force behind a successful business. They are the ones who make sure that everything is running smoothly, from the front desk to the back office. Even the most effective business strategies and plans are useless if they don't have the proper personnel to carry out those plans. Here are you know How to get better results from employees?

    Read More

    submitted by /u/shashikant558
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    Future Of Retail Industry

    Posted: 06 Jul 2021 04:57 AM PDT

    The retail industry has been one of the most necessary and crucial parts of the economy worldwide. The retail industry mainly comprises of selling of finished products to the consumers and has been pivotal for not only survival but also the progress of the economy and the involved companies and enterprises. https://www.theenterpriseworld.com/future-of-retail-industry/

    submitted by /u/theenterpriseworld
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    Pet Care business buying client list?

    Posted: 06 Jul 2021 12:56 AM PDT

    Hi everyone!

    To preface, I own a Pet Care business in the PNW and have run it by myself for the last 3-5years. This year I hired on two independent contractors while also working with another pet care business.

    This pet care business owner (MS) has told me that they are looking to move out of the country and want to sell the business. MS has offered to sell me the business as a whole or just the client list.

    The business as a whole would include the website (#3 on 1st Google page) along with all the other social media platforms, client list, etc etc..

    This was offered to me after I already spent $ to get a new website built with modified SEO for my business, so I honestly have no need for anything besides the client list.

    My question I guess is, how do I go forward? How do I calculate how much just a client list is worth? I plan on asking for tax info 3 years back to now along with a letter of recommendation sent to the clients as to why they should continue booking with me. This is 400+ clients compared the the 70+ I do myself.

    Please ask questions if I missed anything. Thanks!

    submitted by /u/bluberrydreams
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    Running a tshirt company, how many youth/toddler sizes should I get for the first order?

    Posted: 06 Jul 2021 04:27 AM PDT

    Hi all! So I run a tshirt company that focuses on designs specific to my city and I've recently been getting requests to make "kids" shirts though I'm not sure what mix to get as there are toddlers and youth sizes. I don't want to get every size under the sun as I just want to test the waters. Also wondering what the going price is for these kids shirts, I'm in Canada btw. If there's anything else I should know please comment away thanks!

    submitted by /u/dramakrispies
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    To all the amazing small business owners

    Posted: 06 Jul 2021 03:55 AM PDT

    Please help me complete my MBA project by taking a few minutes and filling this out

    https://forms.gle/GfQ2aC7bjVMUjLb7A

    submitted by /u/kartikgoel96
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    Digital Marketing + Social Media + Website + SEO + UX etc.

    Posted: 06 Jul 2021 02:43 AM PDT

    Hi there!👋

    Firstly, I'm going to be honest, not sure if this qualifys as spam so if it does just let me know and I'll delete the post. Just thought that I might be of good use for a lot of small businesses :)

    I'm Liam Thompson and I'm here to make you and your business more money.

    I don't have to explain the multiple reasons why having and online presence can take your business to the next level but know that this is exactly what I can do for you.

    I usually work start ups and mid range companies so my duty is to take care of the entire online presence of a company! ( Normally without a team)

    This means taking care of the website (or building it ), Search Engine Optimization, Speed of the site, Making Content for Social Media, Managing and growing social media, doing sales using online tools, contact influencer and reach agreements, managing email marketing, etc.

    Here are some relevant skills of mine :

    Experience : Head of Marketing for 3 companies, Managed Social Media pages with 50-300k, Web Design side business, social media side business, investing side business etc. (message me your email if you want me to foward you my CV)

    Technical: Web Building and design (WordPress with divi, Shopify and Wix), Media Design (Canva and Photoshop), Email Marketing (Mailchimp), Advertising (Google and Facebook advertisements), Social Media (Tik Tok, Instagram , Facebook and YouTube) , Drop shipping (Oberlo or others) , Microsoft and Google Programs (Excel, Power Point , Spreadsheets etc.) , SEO (Using Yoast SEO , Shopify or Wix).

    Language: English (Native), Spanish (Native), French (Basic).

    Interests: Digital Marketing, Economy, Stock Market, Cryptocurrency, Web Design, Finances and Workout and Nutrition.

    LISTENING TO OFFERS (No lowballing) looking for a salary but will also do one time jobs!

    Thanks!

    submitted by /u/Miket007
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    What if the biggest complaint about your business was price?

    Posted: 05 Jul 2021 04:33 PM PDT

    My family owns a family restaurant, and although I'd say our service, food, and other business aspects are top notch, most negative reviews or complaints come from price. It's pricey to do what we do, and we consider ourselves a premium in the space. We've created a brand for ourselves and we have very loyal regulars. However, I worry if those who do make a complaint about our price will ever truly be our customer, or if there is a value proposition that is missing to them.

    submitted by /u/SirDeniz
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    HELP starting a small business..

    Posted: 06 Jul 2021 12:41 AM PDT

    I have been wanting to start a small business for a long while now...and now that I finally have a little bit of money, I wanted to know where I start?? I've made a business plan, I finally taken the time to understand why I want to start this its not for the money I love the feeling of making others happy, especially when its something Ive created for them. So do I just go out and buy a bunch of products and supplies to make things then post and wait, im not sure what to do I don't have any followers on anything I don't know how to attract people to my page im not to sure on what to sell... I see all these other people with followers and amazing pages and I think that I could never get that far and sometimes I think that im right cause I don't know where to start..... I just need help finding out how to start... right now I HAVE NOTHING

    submitted by /u/Peaceful_cUrLs
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    Is quickbooks the go-to to keep track of everything?

    Posted: 05 Jul 2021 08:27 AM PDT

    Im a very small one-man woodworking business. This last week I had my first event and fully launched my website and now I feel like im starting to get overwhelmed on the "keeping-track-of-stuff" side. Figured I need something other than an excel spreadsheet to keep track of sales and expenses. I see alot of talk about quickbooks but wasnt sure if thats what I needed. Is there other software for small timers? Or is that the go-to? Whats the benefit of using it over just a bunch of spreadsheets?

    submitted by /u/SirrSterl
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    Feeling Defeated!

    Posted: 05 Jul 2021 09:46 AM PDT

    I work so hard on my business and I just feel as though it has hit a stand still once again! My engagement has gone down considerably on Instagram, my followers don't seem to be interested. It was literally great just a month or two ago I went from having great weeks and months to sporadic days. I am feeling so defeated because I know I have amazing products and content. I am considering closing and moving on.

    submitted by /u/supamama12316
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    Buying Partners Share of LLC

    Posted: 05 Jul 2021 08:12 PM PDT

    I currently have 2 partners in a LLC partnership and plan on buying both of their shares of the LLC effectively making me a sole proprietor.

    If I buy their shares, are those expenses tax deductible?

    submitted by /u/nickcodesthings
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    Virtual Address in New York State

    Posted: 05 Jul 2021 09:55 PM PDT

    Starting a business selling homemade products out of my home in New York State. I have obtained small business insurance and I'm currently a sole proprietor.

    A have a question: 1. I would like to not have my home address as the return address for products that are shipped out, would a virtual address work best for this? Any suggestions on virtual addresses in NYS?

    Thanks and let me know if you have any questions.

    submitted by /u/cbat28
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    Help!!

    Posted: 05 Jul 2021 09:52 PM PDT

    Someone had recommended I go to storesupply.com for all the equipment I need for my store, but I don't think they ship to Canada. Does anyone know any alternatives I can buy from in Canada or if they ship to Canada (looking for retail store equipment)

    submitted by /u/Danielb5766
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    Shopify vs GoDaddy With Square

    Posted: 05 Jul 2021 08:52 PM PDT

    I'm starting an E-commerce site for a product that is still in prototype. I originally started setting everything up with GoDaddy, all the website pages, the store, etc. But once I checked out different payment options, I realized I wanted to use PayPal AND Square. Which led me to creating a Square account. Then I found out I needed to put all my products in the Square account/store in order to import them into my GoDaddy store and display them on the GoDaddy website. But only new products import from Square into the website. Any products I update after they're all in Square don't update on the GoDaddy store.

    My question is, should I just switch to Shopify? I have a couple months until the products are complete and ready to go live on the site for sale, and I'd rather do this the right way the first time. Does anyone have any experience with GoDaddy/Square vs Shopify or just experience with Shopify or recommendations? I appreciate your suggestions!

    submitted by /u/Imaginary_Pumpkin_84
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    Serious question.One man roofing company w subcontractors.A+ bbb, great reviews, 95% referrals.8 yrs in business.Im getting burned out. I used to turn phones off when closed but now I find myself checking the phone all of the time. Suggestions on how to be away from phone but still manage business?

    Posted: 05 Jul 2021 05:04 PM PDT

    I know there are answering services. But Im interested in how other one man businesses or small businesses deal with turning off the phones? Just let it be until Monday? That's what my grandfather did but customers seem to want immediate responses these days.

    submitted by /u/treetopflyin
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    Looking for input on naming my mobile DJ business?

    Posted: 05 Jul 2021 08:11 PM PDT

    I've been teaching high school for 10 years and on the side for the past 5 or so years I've been DJ'ing school dances throughout the district. After doing a couple of weddings and bigger gigs I'm ready to launch a website and be more active in getting bookings…

    But I don't know what to call myself? I am looking for something catchy and unique but this is all I have so far:

    -Jukebox Jams -Mixtape Magic -The Tech Wiz DJ

    I don't want to necessarily use my last name.

    I'm open to any advice or suggestions or to hear how others have figured out their name.

    Also in case you are curious, I teach computer science, hence the "Tech Wiz" name idea…

    THANKS IN ADVANCE!

    submitted by /u/chinatown117
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    Wanting to open a food cart

    Posted: 05 Jul 2021 03:57 PM PDT

    Thinking I could start for under 10k

    Just need a food cart and a deep fryer for funnel cakes and freezer for ice cream

    Am I out of my mind?

    submitted by /u/doritsBOOBshadow
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    Best small business to start?

    Posted: 05 Jul 2021 11:52 AM PDT

    I'm looking to add a second form of income. I have about $15k to invest in the new venture. What are some possible small business ideas?

    ​

    Context: I live in southeast Michigan. Mid 30s. Only debt is around $10k student loans.

    ​

    Thanks!

    submitted by /u/Sensitive_Cobbler141
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    Are there disadvantages to pausing google ads campaigns?

    Posted: 05 Jul 2021 06:58 PM PDT

    I've had an ads campaign that's been generating around 10 to 15 customers a month for my service company. Recently I started reaching critical mass, and have been really struggling to find a new employee to take on my new accounts. I'm getting pretty burnt out with how much I have to work so as much as I don't want to, I think I may need to pause my campaign until I find another employee. At this point I have no clue how long that will take as I've been hiring since September 2020 for 2 positions. I was able to fill 1 position back in March, but still no luck for the second technician role.

    Hate to say it but I just can't grow any more until I get some help on-board.

    So here's my question. I'm really happy with my current campaign results, so I'm worried if I pause it, there will be negative consequences I don't know about.

    I'd really hate to lose the momentum and would rather keep spending the same amount and just start saying no to new business vs losing the results.

    Does pausing a good campaign negatively effect the results when you turn the campaign back on?

    TLDR: really stuck on finding an employee. Need to know if pausing a Google ads campaign will negatively affect the campaign results later when I can take on more business, once I find an employee.

    submitted by /u/Doc_Jubs
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    What are my financial options

    Posted: 05 Jul 2021 08:35 AM PDT

    I started a small clothing business more than a year ago (pre Covid-19). Our entire business currently is Wholesale to some of the best retailers in the world and we are very happy for the opportunity. We did about 400k first year with about 270k cost. We are scaling up this year and as such cost is also increasing, we have reinvested the profits (mostly on marketing and assets), and now we are scaling to a point where we are almost unable to pay for production. We have looked into factoring and are working with a company now, but we think we need an influx in cash in order to keep going. What should we do?

    submitted by /u/Downtown_Movie8308
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