I have no basic understanding of business taxes. I'm getting charged thousands of dollars but I have no idea why? small business |
- I have no basic understanding of business taxes. I'm getting charged thousands of dollars but I have no idea why?
- Parents own a small retail store, and literally everyone quit or has COVID-19 and needs to quarantine? Options for Black Friday?
- As a small business what do you spend most your time doing?
- Purchasing an established small business. Need bookkeeping advice!
- Asking to paid a $70 fee after creating my LLC. Labour Law Poster. Scam?
- Need some help saying something tactfully . . .
- If you have a website for online purchases. Do you get fraudulent transactions very often and how do you handle them?
- Software for tracking small business workflow?
- My friend opened a shop a few months back and is a bit overwhelmed with packaging and keeping up with social media. I'd really like to help her and possibly others in our area...
- Start your own business or partner-up with an established business?
- Customers complaining about sales
- Should the CEO be the face of the company?
- Small business and social media
- How do people resell branded items at such a cheap price?
- How to value SEO for my business
- What certificates do I need to pass to be ready for my own business?
- Anyone have any opinions on how to handle UPS and FedEx when they drop off 20 or 50 boxes
- Checklist when considering acquiring a small retail business?
- Do photographers actually make money these days?
- How the heck to I keep track of inventory
- Tips to sell a business
- I'm a small business getting click with not to many purchasers unfortunately. Any help would be much appreciated
- Portable b*det
- Open LLC for investments?
- Facebook Support Help
| Posted: 23 Nov 2021 01:16 PM PST Also, posted this in r/tax but I'm hoping to get as much help as I can. Backstory: I decided to open an online business in 2019. I went about the legality of it all wrong. I didn't file for an LLC, I had multiple tax accounts with individual parishes (I live in Louisiana) that were each charging me hundreds of dollars even though I had no business transactions because I never actually opened my business due to personal reasons. This all led me to see a CPA. I thought she figured out everything for me and everything was fine (no notices in the mail, no phone calls or emails)... for a while. Here we are now: Back in August-ish I finally filed for my LLC and state tax account. Apparently I already had a tax account number with the state from the first time and totally forgot that I did. Within the last month, I've been getting bombarded by tax collectors about this $6,900 I apparently owe. However, I have no idea why I'm getting charged this money. I haven't officially opened my business yet. The only transactions I have is buying inventory and I have no employees... If someone can please explain this to me, I'd greatly appreciate it. [link] [comments] |
| Posted: 23 Nov 2021 08:10 AM PST My parents are in an emergency situation, and I want to see if anyone has creative solutions before they simply shut the store until everyone can return. Basically, the owner (my step dad) has COVID-19 and is in the hospital. He is extremely hands on, and there is no real handbook or instructions on how to handle the store in his absence. With all the other employees in a similar situation, the store will likely need to close on their busiest weekend of the year. I have no retail experience (my wife has a little), but we have small children, and it would be extremely hard for us to contribute. My mom is in Florida attending to her dad who just got placed in Hospice, so she is probably out too. They have no website or e-commerce abilities despite me pushing for those for years. The only real option I see is to offer a bunch of money for people to work that day and post it on their Facebook page. I feel like this is really risky as day laborers would be in charge of cash drawers and such, and I don't even know of we could get the store operational, but... is there any other way out of this short of closing the store? Am I missing any options? [link] [comments] |
| As a small business what do you spend most your time doing? Posted: 23 Nov 2021 08:39 AM PST Would it be meeting people in person, over the phone, through a video call? Or would it more admin tasks like emails, task management, checking stock levels, etc. [link] [comments] |
| Purchasing an established small business. Need bookkeeping advice! Posted: 23 Nov 2021 02:41 PM PST Hi everyone! I'm in the process of buying a well established coffee stand and I take ownership on January 1, 2022. I need advice on how difficult bookkeeping will be for a beginner. Info on the business: approximately $500,000 a year in sales I am single owner LLC There are less than 10 employees We use square for POS and payroll I have opened one credit card and plan on using that for most purchases. I've never done books, so I'm wondering if it's something I can definitely figure out myself or if it would be best to hire someone professional. (I will use an accountant for taxes) Let me know if I'm missing any information needed or if you have any advice I would appreciate it! [link] [comments] |
| Asking to paid a $70 fee after creating my LLC. Labour Law Poster. Scam? Posted: 22 Nov 2021 05:49 PM PST Hello, I created a LLC about 10 days ago in California and decided to be the Registered Agent myself to avoid extra fees as I don't need to keep my name or address anonymous. I already paid a $70 fee online when I formed it via https://llcbizfile.sos.ca.gov/ and my understanding was that there would be a $20 fee to file the initial statement of information which I haven't done yet and that would be my only fee outside of the $800 yearly registration fee and potential CPA cost. However I received a mail in my mailbox a few days ago from "Labour Compliance" located in Los Angeles asking me to pay $70 to post a compliant labor law poster. When looking up the company or the address to return it to I can't find anything about this Labor Compliance in LA. Plus my understanding was that this labor law poster was only if I had employees? A bit confused here.. any help would be appreciated! [link] [comments] |
| Need some help saying something tactfully . . . Posted: 23 Nov 2021 02:09 PM PST I have a website where customers can sign up for appliance service. However I'm not all-knowing, so there are actually appliances that I can't/don't fix. Customers have been clicking on <whatever> just so they can get a service call for their <other thing we don't fix>. I've been manually screening the calls but it would be really nice to somehow say "If it's not listed, we don't fix it." Does anybody have a tactful, but clear way of saying this? [link] [comments] |
| Posted: 22 Nov 2021 09:42 PM PST I had a man last week who was trying to purchase an item that cost $4,500 and he didn't want a delivery, he wanted to pick it up in the store. He contacted me telling me that he had paid for the item and he was asking to process the order because he wanted to pick it up ASAP. Then, I checked the system and there were a couple transactions that got declined by the issuerissuer and he tried a couple times with differents card numbers, names and addresses. And finally one of the cards went through. I didn't want that type of people in the store. So I lied and told him that we we're checking the item and it was broken. And I refunded the money. He was mad and told me he was gonna give me bad reviews in social media. [link] [comments] |
| Software for tracking small business workflow? Posted: 23 Nov 2021 06:16 AM PST Do you track your workflow with a cloud-based service? If so, which one? Can you recommend software that would meet the needs I describe below? I started a very small food business, making fermented sauces and cured meats. I need to keep detailed logs for every step of producing a product. I've been keeping those logs in Google Sheets, but I'm looking for a better method. I need to present data in several different ways:
I've done back-end web development, so I could whip up something in Django. But there are already well-designed (and more secure) cloud services for setting up workflows. What do you recommend? ----------------------------------------------------------------------------------------------------------------------------- Here are some sample logs for a given product. Based on this, could you recommend a product? Or point me toward the right subreddit to ask this sort of question? -------------------------------------------------------------------------------------------------------------------------------- Ingredient Log. Batch Number; Ingredient Name; Weight; Supplier (where I bought it); Supplier's Invoice Number. Salt Log. Batch Number; Salt required; Salt Added Monitoring Log. Batch Number; Check Date; Pass/Fail; Failure Reason ('Trapped Air'; 'Mold Formed', etc.); Corrective Action ('Stirred Ferment; Discarded the batch; etc.) Finishing Log. Batch Number. Liquid weight of fermented sauce; acidifer used; acidifer added; final pH [link] [comments] |
| Posted: 23 Nov 2021 12:32 PM PST Only thing is she wants to be able to pay me and be able to count my help as a business expense. I've looked into opening a small business but I'm not really sure how to sign up for one. I live in NY and the nygov site gives me a drop down for different options as to what sort of business you're opening and I'm not sure what option to choose. I would just be doing some packaging, possibly delivering to the post office. Some social media advertising/helping her make some tiktoks and Facebook posts as well as helping her manage her site. There was an option on the nygov site for package handling and shipping but that doesn't exactly cover everything and I'm not sure how specific I need to be. I'm able to add other options but there isn't anything regarding social media management either. Unless there's an odd jobs or general labor option I didn't notice or maybe I'm signing up for the wrong thing entirely? Any help is greatly appreciated! [link] [comments] |
| Start your own business or partner-up with an established business? Posted: 23 Nov 2021 10:58 AM PST In short, I have been offered partnership with a small consulting company in which I work for. We have 13 employees. Currently there are two active partners with one retiring; I 'am currently an associate. Because one partner (founder) is retiring in one year, I can purchase up to, which they want, 33% of their shares. The goal is buying the retiring partner down to his allowed amount of shares as they can only hold a percentage of shares up to 10 years. What I don't buy must be purchased by the other active (soon to be CEO) partner for that threshold to be met. My debate, start my own company, take out a loan to purchase shares (approx. 18% rate of return), or purchase shares over time using dividends (practical approach). Only problem with the last option is I have a year to purchase the 33% w/o having to ask the retired partner and/or active partner to sell some of their shares. And of course, the shares increase in value each year. Any advice regarding this position/opportunity? [link] [comments] |
| Customers complaining about sales Posted: 23 Nov 2021 02:27 PM PST Anyone have any tips/advice for dealing with customers complaining about Black Friday Sales? E.g. customers emailing complaining that they bought an item last week and now it's $10 cheaper ... How do you guys manage this? [link] [comments] |
| Should the CEO be the face of the company? Posted: 23 Nov 2021 02:15 PM PST Bare with me, this is not an easy question for me to post. My husband has a trade school that he would like to start within the next year or so. He has lots of things to get in place before he can open doors, one of the most important being going through the accreditation process… Now to the details. We are an ethnic minority family and he is starting a school in a niche that is dominated by one or two companies that will definitely not be happy when my husband's company comes on the scene to deliver high quality education for students in this niche that they have dominated for so long. The Question: Should he consider paying someone a salary to be the CEO or "face" of the company to avoid my husband being on the front line? I'm concerned about our family being targeted in any adverse way for being seen as competition in this space? My apologies if this question isn't coming off right but for those of you who can get what I'm trying to say without trying to make this all about race, we would appreciate your honest constructive feedback on how to structure a successful company without being the head person that the public sees when they look up the company. Thank you [link] [comments] |
| Small business and social media Posted: 23 Nov 2021 01:09 PM PST I need some advice! I am looking to reach out to a few local business to beta test my app (basically hootsuite for free + tons of new features) There has been moderate success with our current approach but I would love to hear from other small businesses that use social media. What do you feel is the best way to be approached for this? What are some ways that a fellow small business could pitch the benefits without feeling like spam? (Not here to pitch you, I just would love some fresh insight!) Thanks! [link] [comments] |
| How do people resell branded items at such a cheap price? Posted: 23 Nov 2021 08:49 AM PST Hi guys, i'm shopping online and i'm wondering how people can sell carhartt shirts for cheap when compared to the original price. Do they have connections to the manufacturer? Edit: If yes, how would they get the connection? [link] [comments] |
| How to value SEO for my business Posted: 23 Nov 2021 08:28 AM PST Hey everyone, I just want to preface this post by saying I'm extremely grateful for this community and all the advice given. I've learned a lot here and felt much less stressed and alone throughout my journey as a business owner. Thank you for that! I own an all online business selling a custom product which is very niche and expensive. 6 months ago we hired an SEO consultant and with his help we are on page 1 for a major search relative to our business. It's been a good experience working with him, and each month he has: -been creating backlinks to give our website more credibility in Google algorithms. -made 2 blog posts per month for the same reason -sought out any opportunities for interviews or guest posts to expand our reach. -I also think I should mention he is helping us with national SEO, not local. We're at the point of needing to evaluate the service and decide on an extension. We pay him $2000 a month currently, and he is asking for a 6 month contract at $2500. My instinct tells me it's worth it, but I'm finding it hard to quantify the impact he's had on our sales. We have had pretty consistent numbers since hiring him, and the only tangible changes have been in our rankings for various search keywords. Ostensibly his work is having an impact, but while I can draw correlation to sales being good on the months he worked for us I can't pin the cause solely on his help. There are a lot of other changes we've made that I'm certain played a role in our success this year. How do you evaluate the worth of SEO, and furthermore when do you begin to see diminishing returns on the work (if ever)? If I need to elaborate on anything just let me know. [link] [comments] |
| What certificates do I need to pass to be ready for my own business? Posted: 23 Nov 2021 11:56 AM PST I fully understand that those 2 thing are not connected. But which certifications can help with that? Now working on CIMA and it seems really practical (at least for a student) [link] [comments] |
| Anyone have any opinions on how to handle UPS and FedEx when they drop off 20 or 50 boxes Posted: 23 Nov 2021 11:48 AM PST Our drivers just will leave without actually confirming what we have received or should receive? Most of the shipping delivery drivers drop off boxes we have no idea if that's actually the amount we should be receiving until we receive in and contact the shipper if there's something missing. Do you have any suggestions around procedures or software or even talking to the shipping companies? [link] [comments] |
| Checklist when considering acquiring a small retail business? Posted: 23 Nov 2021 11:30 AM PST The owners of a retail business I've patronized for years are retiring and looking to sell. I have basically zero business background, I'm a software engineer. But I am incredibly interested and knowledgeable about this niche domain, so I put my name in the hat. I got a positive acknowledgment back and the general price (getting it financed or even paying outright would be no problem) so the ball's in my court as far as I can tell. The business is retail, currently run by 1-2 people, has a small in-person component but is mostly online (self-hosted store, probably running on Shopify or something like that). The assets I'm guessing are mostly existing inventory, the business relationships (I know many of their items are one-of-a-kind and come from specific factories/manufacturers) and their small but recognizable (and very growable) name within this niche. I'm not really sure what my next move should be. I'd like to ask for financials and inventory, but how do I know what specifics to ask for? I'm not trying to turn this into a full-time job but more something on the side, what can I ask to see if that's feasible? Is this all kind of silly? What would you do? Thanks! [link] [comments] |
| Do photographers actually make money these days? Posted: 23 Nov 2021 07:32 AM PST I'm an amateur photographer but have been looking to start charging for headshots or for pictures for people's Instagram but before I actually invest in more than I have I just would like some insight from someone who knows more than me about this. [link] [comments] |
| How the heck to I keep track of inventory Posted: 23 Nov 2021 10:45 AM PST I have a brick and mortar business selling a few hundred different SKUs. I sell them in person, on my website, and through Amazon. My inventory is a shit show. Something sells on Amazon but Quickbooks doesn't know about it. Something sells out the front door but Amazon doesn't know about it. It's a total mess. Does anyone have any suggestions of a way to keep track of everything? I end up with Amazon orders of stuff I don't have. [link] [comments] |
| Posted: 23 Nov 2021 03:00 AM PST Can any of you share your experience selling your online business? What to look for and what platforms are best to use for this? [link] [comments] |
| Posted: 23 Nov 2021 10:15 AM PST Hi guys! I'm 22 with my own business which I'm so so passionate about and love! I import and sell Sicilian Artisanal products like Salami, cheese, Olive Oil, Olives and more! I'm struggling to get the views I'm getting to be buyers. I get a nice steady flow of clicks, either from Ads I've bought or natural from Social media's like Insta and FB but I really would appreciate some help how to curb this as it's a little frustrating as the website I've created and the products I've got are great! I have Yoast premium to build my SEO. Go check out my website see if you can see any improvement are needed www.thesicilianway.co.uk Any help would be appreciated thank you so much in advance! [link] [comments] |
| Posted: 23 Nov 2021 10:06 AM PST I want to start my own business, selling small portable bidets like the one in this video: I'd like to make the water bottle foldable and maybe incorporate a fan somehow, in case you don't have toilet paper or don't like feeling wet. What else can I do to change this product? I thought I'd making it a 2-1 water bottle, but maybe people won't like that since you don't want to drink from something that has been attached to an electric device that you use to wash up after you've been to the bathroom. [link] [comments] |
| Posted: 23 Nov 2021 09:58 AM PST Hi all. I'm looking to get a couple of investment properties (first ones!!) and have heard I s open an LLC and buy them under the LLC name. Is this good advice? Side question - if I do the above, can I then switch my current cell phone family plan under the new LLC name and get business account deals from the cell phone provider? Or would that be something totally different? Thanks! [link] [comments] |
| Posted: 23 Nov 2021 09:56 AM PST My fb commerce has been restricted for non trustworthiness and have chatted with support for a month. They have been useless. I've tried doing some internet search about this from real people that are not employees of Facebook but can't seem to find anything. All results are from Facebook.com. Do you think they did this on purpose? Also, is there another way to contact them? I meet all the guidelines for trustworthiness-5 star ratings, active engagements, 600+ followers. And we even ran ads. [link] [comments] |
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