Business Contents Archive

Trying to Understand the Tax Implications of Running a Small Business

I'm looking at starting my own business and I'm the type of person that likes a really solid understanding of what I'm stepping in to. With that I've read up a bit on a number of tax guidelines but I'm unable to determine if I sell goods and make a profit, then use that profit for more goods to sell, is that profit then used to buy more product taxable at the end of the quarter/year? I've read a bit about expenses and the Schedule C but I could really use a good article or two over what is taxable and how to grow my business by using smart tax benefits.

BIG SCREEN BOOST: Why industry insiders are giving the blockbuster film a split decision at the link in bio.

Giving gifts to clients

Do people still give gifts to clients? I have clients that have been with me for a while but I'm not sure if it makes sense to give them gifts?

Best money transfer platform for a small business with payments in India and Norway?

Hi, I'm a small business owner looking for advice on the best money transfer platform for making payments to India and Norway. I've researched some options but I'm still unsure which one to choose. Wise seems to offer a good exchange rate but with a high fee, while Remitly has almost no fees but their exchange rates aren't as good. I would appreciate hearing from anyone who has had personal experience using either of these platforms or any other recommendations for affordable and reliable money transfer services. My priority is to find a platform with the cheapest fees and better exchange rates. Thank you in advance for your help!

Help, i'm not growing

Hi everyone; small belgian bussiness owner here , So I am a 22 year old student and started a private dinning/lunch/brunch business and i just can't get to a lot of followers/exposure on instagram. I'm really at my wit's end. I've tried giveaways, promoting posts ect,.. I honstely think that I've got great photos but still after almost 2 years, I can't seem to gain new followers. Please, can somebody give me tips to grow my account/ exposure ? I've been working so hard. Here is my instagram account; boumbouche\_catering please be brutally honest so i can grow. Anyway thank you for reading and excuse my poor english.

Shared Inbox Opinions

Hello folks! I mostly wanted some feedback on my thought process for this before I implement it... We've grown so much over the past 3 years that the position I used to have has grown from a 1 woman show to needing 2 people and a supervisor. Something they've been asking me (I'm the supervisor) for is a shared inbox. We're planning on using TeamInbox with Zoho (We use Zoho One for everything else) but we currently just all get copies of the emails to Outlook and have to say "Got it" when we're handling a message. The transition seems fine but my questions are: 1. Should I leave the emails set to also go to Outlook until we get acclimated to TeamInbox or just switch cold turkey? 2. Is there a better way to do delegation in Outlook that I've missed? Some way to cut out the "I've got it" step and just have everyone know who's got it?

It's no secret that your habits outside of work affect your performance at your job. Eating well, getting good sleep, and exercising regularly will serve you in anything you do.⁠ ⁠ What most people don't consider, however, is the impact their favorite hobbies can have on their performance at work. ⁠ ⁠ It all comes down to flow, the highly productive state that efficient people seek out relentlessly. Link in bio. (Reporting by Nick Sonnenberg)

Starting a clothing line but with bigger things planned ahead

Me and my brother are at the very start of our journey in creating a brand. For now we plan on just using Shopify to start selling our designs whilst in the background building our own website from scratch. We intend to have sort of a animated series for each drop as promotion the end with clothing and figures. For now though we’re sticking with just clothing and we figured print on demand is probably a good place to start as we have limited resources. Does anybody have any advice on succeeding in such a saturated market. This is our first business venture and would appreciate any advice you have to give. We’re not the most tech efficient people and are learning as we go along which is why we figured to start on Shopify whilst we work on our main goals and aspirations in the background until ready for a full release.

Typical net profit..

What is a typical net % of profits from gross sales in a take out restaurant space? NY, LA, Miami? Everyone online says 5% but that seems incorrect or if it’s a failing restaurant. Every time I talk to someone with a restaurant , it seems they’re doing 20+% on gross sales. Curious what you guys have experienced or heard.

Constant phishing and spoofing emails

Are you getting these? I’ve gained some visibility online and now our whole team is getting fake sms and emails asking them to send “me” AR detail, gift cards, etc. I just got a voicemail saying that their firm has gotten multiple fake checks, recruitment attempts and other things by bots/people masquerading as us. What should we do? We have good security on our systems over all but how do you defend against these social engineering attempts?

Business bank account, brokerage, bill pay

I currently use BoA for my LLC's checking and bill pay service, and am unhappy with them, so I'm looking for a new bank that would hopefully have all of what I need: * Checking * High Yield Savings or MMA * Ability to purchase CDs and Treasuries (e.g., through a brokerage like Schwab) * Billpay that works well (BoA outsources it to a third party, which complicates any issues that arise) I know this topic has been covered extensively in this sub, but I wanted to see if anyone has any good recommendations for my specific situation. I know people always advocate for local credit unions, but I don't think I want to do that. Don't want to do Wells Fargo either. Fidelity would have been a good option but I cannot use them unfortunately. Ideally all of these criteria would be met by one institution, but if the best solution is to use different ones for different services, that is okay. ​ Thanks in advance and let me know if I can clarify anything to generate better responses.

My current profession is Technical Support Engineer and I'd love to have my own business,suggestions?

Hi team, Is there anyone out there that had a support engineer luggage and started something from the bottom, it doesn't need to be related I'm looking for ideas and inspirations... I'm a good writer and I read a lot, I like solving issues using my computer,I also love sports, gym, sauna, skateboarding, running. How can I tunnel all my inspirations and come up with a idea that I won't get demotivated. Appreciate all the suggestion and compassion here. Best, Luan

Trying to save my business - HELP!!

Hello everyone. I'm new to Reddit, just opened it to ask this question, be kind. I have an e-commerce site, recently started, that I am madly in love with. (I'll link it in the comments if interested). Unfortunately I realise that it is uneconomical at the moment, as we sell dropshipping (high quality Made in Italy products) and our percentage is 20%, from which shipping costs must be deducted. I would like to invest in Facebook/Google ads, but I am afraid it would only lead to a loss. What to do? Do I close my site? Any ideas on how to save my business? (Our competitors always have a 20% margin, no supplier accepts higher margins).

How would I go about starting a local beverage brand?

Many stores and schools here sell local beverage brands that are pretty much found only in this city, I hadn't really paid much attention to it but recently I've been wondering how would I go about making one myself? Assuming that it'd be easy for me to get in contact many of these store owners and that I will be packaging the product myself, what are the regulations that I'd have to follow? Would I have to rent a commercial kitchen specifically for the elaboration of the drink itself? If so, how would I go about finding said commercial kitchen?

Is having like 12 views for a tweet for ur business a good start after a day?

Just curious if I'm slacking or doing well so far. I intend to improve with time building a better network of people and so forth but just curious for short term.