Business Contents Archive

Should I Pay Accountant $1500 To Form S-Corp?

For my 2021 taxes I was a sole proprietor but in the past few months my business has started to take off. I make content on TikTok & IG and will bring in at least $185K gross this year with the possibility of $260K if certain things happen. Every CPA I've talked to has recommended going the s-corp route. The CPA I really want to work with is going to charge $1500 to set up the new entity, EIN, etc. My question is, should I set up the entity myself with IncFile or Legal Zoom to save some money or is it wise to just let the CPA handle everything? I know I can set up an LLC & get an EIN myself no problem but it's the whole electing to be taxed as an s corp thing that I don't quite know if I can handle. I have no problem paying the $1500 but at the same time if I could save $1000 by going elsewhere and getting the same results, then I'd rather do that. Figured I'd ask you other business owners, TIA :)

QuickBooks payroll

I have a super small restaurant and have always used QuickBooks Desktop Pro. Our payroll support is expiring at the end of tbe month and we have to upgrade. Right now we pay around $350 a year. The new price will be around $850 a year. Anyone have any suggestions for a less expensive option? We don't need it to track time. We don't need direct deposit. We literally just need it to figure out deductions and year-to-dates.

Gone from hundreds of Instagram interactions per post down to double digits within a fairly short span

I own a b+m bakery/cafe. I've gone from getting 200-400 likes and 10+ comments to getting an average of 30-50 likes and no comments. A poll of some customers says that a lot aren't even seeing my posts. This has occured over the course of a few weeks. We post pretty regularly, at least 4-5 posts per week with multiple stories daily. The content hasn't changed much, pics of products, specials, drinks, etc. Is this Instagram telling me they want me to spend money on boosting posts? Has anyone else experienced this? I'm kinda baffled. It shouldn't matter much I guess but it's coincided with a noticeable drop in walk in business. I'm frustrated by this. We do a ton of specials and one-offs and Insta had been my main way of promoting these kinds of things.

Chinese company trying to take my name?

I've received several emails over the last couple days of a Chinese company trying to register a domain with the same name as my store. Has anyone else experienced something similar to this?

The Federal Reserve raised interest rates by the steepest increment since 2000 and decided to start shrinking its massive balance sheet. This is the most aggressive tightening of monetary policy in decades to control soaring inflation. The U.S. central bank’s policy-making committee voted unanimously on this increase. The Fed will begin allowing its holdings of Treasuries and mortgage-backed securities to roll off in June at an initial combined monthly pace of $47.5 billion, stepping up over three months to $95 billion. “The committee is highly attentive to inflation risks,” the Fed said in the statement, adding a reference to Covid-related lockdowns in China that “are likely to exacerbate supply chain disruptions.” That comes on top of Russia’s invasion of Ukraine and related events, which are “creating additional upward pressure on inflation and are likely to weigh on economic activity.” More on the decision at the link in bio. 📷: Samuel Corum/Getty Images

SBA or other places that give out small biz loans quickly

I am looking for a place that gives out small business loans/funding with a quick turn around time (1-2 weeks). I have decent credit and a 6 figure profitable business.

Need help planning and preparing new business

I'm currently working a 9 to 5 job. I don't dislike it but I don't love it. It pays the bills but I want more. I've been thinking and thinking about this idea I had and I think it's possible to turn it into a business but my degree in arts and design isn't really helping me that much when it comes to planning the business side of things. I have the feeling I'm getting a bit overwhelmed by all the variables I have to take into account when considering setting up a business. I'm afraid I miss some important detail and put everything in jeopardy. I'm currently thinking through branding and overall concept but that means nothing if I can't setup a proper business plan. ​ For now my idea is doing this as a side hustle and see where it goes from there taking into account my full-time job contract ends in November and I'm not sure if it'll get extended or not. Please tell some guidelines so I'm not 'moving forward with my eyes closed'.

Coaching business startup advice - commercial cleaning business coaching

I am looking to start a coaching/consulting business for commercial cleaning/janitorial businesses. I run a 7-figure commercial cleaning business that I started from scratch just a couple of years ago. Like many of you entrepreneurs, I need my next project.. And why not ride the next project off the knowledge of the industry I am already successful in?? I would like to bootstrap this as much as possible and so I am considering starting out through freelance websites such as Fiverr & Upwork. **For those of you who run a successful coaching/consulting business, where did you first start marketing your business to get your initial clients?**

Merchant Account Question - Any terminals that create a digital merchant receipt without POS?

We currently take our printed credit card receipts and scan them. We then attach those to the payments in Quickbooks Online. We do not have a dedicated POS system and simply use invoices within Quickbooks Online. We have a 3rd party merchant account who we would like to keep as their service is great and we like their rates. ​ Is anyone aware of a way to have the merchant receipt not be printed out but be saved as a digital file? Basically I am looking for a way to skip the print and scan process and have the receipt immediately be saved as a digital copy.

U.S. investigators are mapping out a crackdown on Wall Street. Bill Hwang was just the start https://t.co/u9q8hvvmGb

Stacey Abrams, who is poised to become Georgia’s Democratic nominee for governor, temporarily suspended campaign fundraising to focus on collecting money for abortion-rights groups in the state https://t.co/PpKgi1Kuei

File a lien in Texas

Hi, I own a business in NC and we sent material to a construction project in Texas. The owner has not paid the GC, which means we haven’t been paid. We had material on-site since Feb/March and the last bit got there last month. The GC has gone radio silent. I need to file a lien on the project. Does anyone know an attorney I can get in contact with to do this or what the steps are for Texas? TIA.

I Need Help with my SBA Loan Increase!

Please, I have terrible executive functioning/ADHD and I will be so mad if I dont get my increase of funds submitted and processed. I'd be willing to pay 10% of my loan to anyone who is able to do everything on my behalf (original loan was approved for 26.5k)

“Inflation is much too high, and we understand the hardship it is causing,” Fed Chair Jerome Powell says. “We have both the tools we need and the resolve that it will take to restore price stability on behalf of American families and businesses.” https://t.co/uDQEVAH0P9

A single person with a clarity of conscience and a willingness to speak up can make a difference. https://t.co/dokwGvZXD5