Business Contents Archive

Employee adding 30 minutes daily for 'breaks not taken'

Employee is a good worker, role is assembly work for online store. Not sure how to handle this. They fulfill orders on time. My takeaway is hours should reflect time actually here, I would definitely prefer them taking those breaks (if I'm paying for them). I just gave a $2.50 raise, but if moneys an issue, for that to be upfront. They have flexible work hours, 4 days a week, 32hrs, so orders aren't going out friday. They're otherwise a great employee who wants flexibility, I just want their pay to represent time worked (here). Any advice is appreciated, they saw I was googling "employee leaving 30 minutes early daily" and left without working today. We recently moved, so if there was a time where I really needed the hours, this would be now.

Business Losses Multiple LLCs

Hi All, I started a small business last year and it reported a small loss, about 4k revenue and 5k in costs (1k loss). This year I expect to purchase a vehicle (I was renting before) so I expect to hit around 12k revenue and maybe 17k in costs (5k in loss). After that I don't think I will have anymore major expenses and should start hitting profits. I plan on starting another small business this year with another idea I have, I expect losses this year in start up costs and operating costs. My question is, when I file taxes, I know the 3/5 rule on losses, will the second business count toward that count or will it be considered separate? So for example my second business can take 3 years of losses before it is considered a hobby? Right now I have one LLC and was thinking of setting up two DBAs (Doing Business As/Trade Name), however if the rule states I need to set up two LLCs to have each one be treated separated for losses, let me know please!

Buying 25% of the company I work for. What do I need to do to protect myself?

I work at a small business. I’m looking to become a partner. Currently two partners (also founders) with 75/25% ownership. I am buying 25% ownership which will result in 50/25/25 split. What should I do to protect myself or make the most of becoming a partner/business co-owner. Setting up a corporation, putting any clauses in the agreement, tax implications, anything else? I will be contacting a lawyer but thought I’d also get some info from here. Thanks. Located in BC, Canada.

Washington State help?

I’m going to preface this by saying I know nothing about taxes and all of this has been a learning curve since April. Please be kind. I recently moved to WA state from TN. Last year was my first year running a small Etsy business, but that was in TN. All of the legal licensing and tax stuff is VERY complicated here in WA and I could use some help from someone with experience. I’ve talked to the DOR, a CPA, and still I keep hitting walls that make me afraid to reopen my shop. If any small business owners could explain some stuff regarding B&O tax and personal property tax, I would really appreciate it. For reference, I make <$10,000 doing my art so a lot of the DOR resources aren’t very helpful for knowing what applies to me. I’m just trying to make my lil clay pieces 😭

I own a 1 person LLC taxed as S Corp. Are there any advantages/disadvantages to having the S Corp contribute a percentage to my personal health benefits? i.e. I can choose from 0-100%

All in the title. Thanks

My friend and I have a business idea that we'd like to partner on. Should we open up a new LLC or operate it under one of our single-member LLCs?

A colleague and I both have our own single-member LLCs. We have a new business model that we'd like to partner on and I'm wondering at what point does it make sense to create our own LLC for it? I'm happy to test the service under my LLC for now while we're experimenting. Is it okay to wait to open a multi-member LLC until we decide to fully commit to it?

Profit Sharing Model for a tutoring company. Is it a good idea?

To reduce the turnover rate and increase loyalty, I'm thinking of starting a bonus system through profit sharing. Let me know if you think it's a good idea! Here's how I'm planning on setting it up: * 20% of the company's yearly profit is allotted to the employee bonus pool * How much bonus the tutors receive is based on the number of "credits" they have. They can earn credits by submitting lesson plans, accruing tutoring hours, and having clients leave them 5 star reviews. * The total bonus pool is divided by the number of credits. Each credit is assigned a value and employees get a bonus based on their amount of credits multiplied by the assigned value of each credit. * One hour of tutoring is two credits, one lesson plan submitted is one credit, and one five star review left by a client is four credits. * Bonuses are paid at the end of each year and 33% can be withdrawn each year to increase retention. Do you think this is too complicated? What changed would you make to it?

Please rate my business idea

Hey there! I had an idea for a business last week to help people get rid of their shit! Have you ever had something you wanted to sell online but you don't have the time to list it, talk to buyers, go to the post office, or do the dreaded meet-up? Well, now you don't have to do any of that shit! By using [get-rid-of-my-shit.com](https://get-rid-of-my-shit.com), you can have us do it all for you and we split the money from the sale 50/50

Prices for business cards has went crazy! Recommendations?

I've used gotprint for many years for my business cards. For the 38pt blue trifecta cards, I bought 1000 of them at the beginning of 2021 for $63. Now they're $199! It's been awhile since I've ordered them cause we buy in bulk but I can't believe the increase. I realize inflation has been crazy the past couple years but tripling in price was much more than I was expecting. In checking other sites, it looks like they've raised prices even more. Any recommendations that you've seen better value's out there? I normally buy 1000-5000 at a time and normally get something other than standard ones to stand out a bit, so I care most about pricing at those quantities and their thicker card stocks. Let me know, thanks!

Jump in the Google LSA Bandwagon (a must for local and small businesses)

Google has launched LSA (Local Service Ads) It gives you the opportunity to have your own listing setup on the Google's search page and the best thing is you don't have to pay per click anymore (and you have a landing page for yourself that opens in google itself so your client isn't redirected to another landing page and you don't need a website for it too) and you can have pay per lead ads which are performing really well for our local businesses we're servicing too. If you want to go further deeper into it, we can even offer to show you how to setup your own Booking system so your customers get a book option on your GMB listing itself and they can reserve the service, time and pay for the service on this spot itself. If possible, I'll attach some image examples in the comments!

Square or QuickBooks for a small rental company

Need a recommendation for invoicing and accepting payments. Right now I am using QuickBooks. I enjoy the functionality of it and how easily I can send invoices/estimates. What I do not like is the price to use it along with the fees involved. You can avoid some of the fees by opening a checking account with them. Which I do not want to. I also cannot accept deposits from the invoice. Since it’s allowed in my state, I would like the customers to pay the credit card processing fees. I have started fooling around using Square and it has similar features for what I am looking to do. I thought it was a little easier to charge for the credit card fees. If there is another platform I should look into I am open Additionally I am looking for a way to have a credit card “on file” for incidentals. Any recommendations on that.

Moving LLC from Florida to Arkansas

Hi all! I have recently moved from Florida to Arkansas. I have a single member LLC in Florida (reported on my personal taxes as the sole owner). Since I will now be filling in Arkansas I wanted to move my Florida LLC to Arkansas; however I have just found out that Arkansas does not allow domestication of LLC's - what is my best option here, leave the LLC in Florida, or close it and make a new LLC in Arkansas?

Can I build you a free website?

Hey guys, I'm a new entrepreneur and am looking to get my foot into starting a web dev. I'm pretty good actually and just need about 10-15 people who'll let me build their sites for free to build my portfolio. Dm me!!

Anyone know a way to contact e-Verify? On hold for 55 min and waiting

Tried email, they sent one email requesting I provide the exact information I was trying to get from them then no response for at least three days (so far) to my response. Called in the next day and was on hold the first time for 36 minutes before being dumped. Attempting again today and now on 58 min. All I want is our company number - and to reset the password so I can update the employer info. Does anyone know any way to actually get in touch with these guys? Any stories about it working? Is this normal?

Luxury Gum?

Hey everyone, hope you're doing well! Random idea, wondering if it could be a viable business. ***Luxury gum...***Value Proposition: A premium, luxury gum brand that uses the highest quality ingredients to create a unique and indulgent chewing experience. Each pack is meticulously crafted with care and attention to detail, and is designed to make a statement. Flavors could include "Truffle", "Champagne", "Caviar", and "Rose Petal". Thoughts on this? Is there a big enough market to actually build a profitable company? Would you personally gravitate towards such a products? Thanks for taking the time out of day to read and possibly comment on this post! Cheers, Matt