general

Hi r/smallbusiness! I am trying to help our company move a manual bookkeeping process into something more automated and less error prone. Here is a generalization of the logic I am looking to put into a software solution. We have products we sell through various third parties. Every third...

I own a pass-through LLC in a creative field with a revenue of about $150k/yr, and ~$20-30k in expenses; no employees, so $120-130k profit. That’s the good part! The bad part? That doesn’t go as far as it seems with single earner and a big family, healthcare, etc. I get paid in lumps just a...

I don’t get it. I recently purchased a '19 Tesla Model 3. And I was going to use it for my daytime job delivering for a local grocery store. But I wanted to use the car for more. So I started a taxi company with the cheapest fare in town. Some quick background: My town is relatively small, but...

I run an online health/fitness blog, if I buy exercise equipment to review on the site through the business (Ltd company) what tax will I have to pay? Do I have to declare it as a benefit on my personal tax return? I’m in the U.K.

We have a small business offering service. Service to top 5% richest people. I think I took on too many clients at once (my fault) thinking the service providing them will be short term but for all happened to be longer than I thought. All these clients must be A type personalities with a...

I do 2 kinds of quotes. One is straight forward and take little time. The second is me coming up with creative solutions for an end product. This quote can take 1-4 hours (usually closer to 3-4) as I brainstorm solutions, find material pricing, etc. It’s even worse when the client comes back and...

Other than the way in which taxes are conducted, what is the difference between having an LLC or a corporation?

My husband and I own & operate a small business that’s bringing in about $100,000 revenue per month. We started in April 2023 and we’re needing to hire an employee which will be W-2. I’m at a loss on where to start. What i’ve read online so far seems pretty daunting with lots of forms to file...

First of all, I’m glad to post my first article regarding this thread. One of the reasons why I couldn’t write about it is a non-disclosure agreement that limited my actions to 10 years. So back to the topic, today I’m 35 years old and behind my back almost 18 years of experience in creating...

Insights on shutting down a registered business in Delaware. My family friend atty ghosted me for 2 months after receiving payment. As of Friday, the business was not shut down. A jr partner is now suddenly jumping in to help. At this point, google and the DE site shows that I apparently need...

Have you heard about the doj lawsuit accusing Google of creating a monopoly? They say Google uses profit from advertisers to pay phone companies for browser preference among other things. If you don't about it, this video breaks everything down. Do you think you're at a disadvantage on...

Hi all, i am building a tool called Taskmate which provides an Interface and API to automate metadata inspection, cleaning and governance through policies to streamline the process. Its crucial as it removes your digital footprint from images and documents, and reduces file size. Most people...

Hello My question is will I get into any trouble if I start a competing business with the business I work for? Background - got a job w a catering company 2 years ago (1099 never signed any paper work) the dude was like downbad I helped him a lot working while he was in a diff state totally...

Just posting here to hopefully get some advice. A week ago I was slowly building up my business with a casual 1,000 EUR profit per month that recently fell to a pit due to Google completely obliterating it's rankings last year and advertisement costs. I spent almost all my savings to get it...

Hi all, I’m a tax accountant and run into several small businesses and want to give you a real world example of why you need to keep your books straight. This is not self promotion, I sincerely do not want your crumbed up receipts you found in the glovebox. Client of mine hasn’t filed taxes...

I want to get a vehicle for business use. I started small business registered as LLC to provide online services and sales starting this year and not much income has been produced and mostly it's all expenses to jump start my business and vehicle is a must for my business travel. I'm using my old...

Hi all, I operate an S Corporation as the sole owner and employee. I've been paying myself a market salary (about $45k), as required by the IRS, and paying out the rest in non-dividend distributions. 100% of that salary component goes to 401k. However, it occurred to me recently that I should...

My boss has recently told me that he has to declare bankruptcy due to a massive client who never paid. He is offering me partner status in the next company and I could really use some outside advice. I’m 20, in college, and planned on going into sales. My business on the side hasn’t had any...

Someone on Etsy messages sent me this message: “Wе hоре thіѕ mеѕѕаgе іѕ ѕаtіѕfасtоrу tо уоu․ Wе rеgrеt tо іnfоrm уоu thаt‚ ассоrdіng tо оur rесоrdѕ‚ thе рауmеnt саrd аѕѕосіаtеd wіth уоur ассоunt hаѕ nоt bееn vаlіdаtеd fоr dіѕburѕеmеnt․...

Hi all, Question on a W-9 for an LLC that has declared as an S-Corp. Does the Exempt Payee Code "5 -- Corporation" apply to LLCs that declare as S-corps? Screenshot here---> https://i.redd.it/ll6kcas31ie61.jpg It's not very clear... any thoughts appreciated. Thanks in advance.