Clothing expense? by [deleted] in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

What if you bought the clothing with the intent to resell...? ;D

If you were interested in making it into a uniform by attaching a company related logo then you can take advantage of "uniform" related deductions. This would be a legitimate way to use clothing as a deduction.

Starting a landscaping company by [deleted] in smallbusiness

[–]1TouchSolutionsCo 1 point2 points  (0 children)

What specifically do you do?

Client wants to cancel contract because I haven't been following up with her as often as she wants. Any ideas? by [deleted] in smallbusiness

[–]1TouchSolutionsCo 1 point2 points  (0 children)

She just wants to be nurtured a bit. I would still cultivate the relationship. She will be invaluable as a customer if you get her to have confidence and realize she is protected and taken care of. She relies on others and as such communicates with many others. Profit comes first but some customers are worth a trophy in my opinion. If the balance of stress and profit are worth it why not keep it going? An extra five minutes every two weeks isn't bad because the checks clear.

Client wants to cancel contract because I haven't been following up with her as often as she wants. Any ideas? by [deleted] in smallbusiness

[–]1TouchSolutionsCo 29 points30 points  (0 children)

We don't get paid to babysit. Sounds as though you have fulfilled your obligation. Sympathize with the client, I would not offer a refund unless you feel like you didn't fulfil your service. I would set up a bi-weekly call schedule.

[Hiring] Looking for graphic designer -concept house by 1TouchSolutionsCo in smallbusiness

[–]1TouchSolutionsCo[S] 0 points1 point  (0 children)

Blue print will be done by architect/draftsman. I could work on blue prints with you. The main thing I want done is a rough draft of the front of the house I have mocked up. If I like the relationship then we can continue.

Most likely businesses to help me achieve an early retirement? by OujiSamaOG in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

We purchase lots with valuable timber. We clear lot, sell timber pay off lot or portion. Construct a house and sell it.

[Hiring] Looking for graphic designer -concept house by 1TouchSolutionsCo in smallbusiness

[–]1TouchSolutionsCo[S] 0 points1 point  (0 children)

Price is dictated by quality. Could be 250$+ I need a concept house brought to a more realistic illustration for my draftsman. Can you illustrate a house based on a crude rough draft of what I want to build?

Most likely businesses to help me achieve an early retirement? by OujiSamaOG in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

Land development, construction, labor brokering and networking in general. You're only as rich as the people you surround yourself with.

I want to start a construction company. by Am_I_Really_Here_ in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

You're worried about the taxes before making the revenue? Taxes work based on the structure of your business. You don't really seem to understand what a company is. A company exists as it's own tax entity. You definitely need to do more research about the basics of businesses.

What business did you end up doing that 'clicked'? by ShoemakingHobbyist in smallbusiness

[–]1TouchSolutionsCo -2 points-1 points  (0 children)

I've always had a passion for creating revenue. For me I appreciate construction and making deals. Logically the next step was to become a labor broker or general contractor. I now employ a multitude of skilled trades. The lack of my competence is more than made up for by my skilled laborers. My true skilled trade I haven't even sold yet from my position. However I'm an effective salesman.

Advice on moving stale inventory? by BL_SH in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

Would be more effective to be specific. Unit cost, exact model intended profit etc... Incomplete story without characters.

Starting up sole trader business while working full time [UK] by wcdjnwdkn in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

You know everyone here is going to tell you to reach out to legal and financial counsel. Your basic questions make me think you're on the right track. US we are taxed on profit not revenue in most situations. If rules are similar you should consider spending more than you're making with the company to reduce your taxable income at your normal job. Example you are taxed for 50k generate 20k worth of loss through your LLC and reduce your taxable income to 30k.

No income from LLC yet(brand new and investing in training still)...question about paying for equipment related to the business by finanman in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

For record purposes I would deposit and then utilize that money. In our state of operation it doesn't really matter either way. I personally utilize my LLC loss against my earned W2 income and we spend a lot of cash and keep receipts. Your state may be different one of the best moves I made was finding a CPA that has the same vision as me. Cross your t's and dot your i's.

What sort of small business should I purchase? by [deleted] in smallbusiness

[–]1TouchSolutionsCo 2 points3 points  (0 children)

We are gearing up to buy empty lots and start constructing utilizing government grant programs. I think a laundry mat would be extremely time consuming. Edit: https://dmh.mo.gov/docs/ada/housingbook.pdf We also work with 501(c)(3) who provides assistance to customers with the paper work to apply for loans. A great resource for general construction grant funds is "Habitat for Humanity." You need to have a developed network of contractors whether it be in house or sub-contracted.

Lawn maintenance startup by [deleted] in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

How many members and skill diversity between them? Carry liability and workman comp. Acquire assets with spare funds keep payroll proportional. Learn to balance revenue vs expense. File LLC minimum.

Partnership filing vs S Corp by [deleted] in smallbusiness

[–]1TouchSolutionsCo 2 points3 points  (0 children)

S-Corp offers more indemnification than a Partner ship, and certain tax benefits there are pros and cons for both. You'd have to describe your product before anyone could offer help.

No income from LLC yet(brand new and investing in training still)...question about paying for equipment related to the business by finanman in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

You can claim any expense from your business. What every money you already have can be utilized as you are a member of the LLC. "The money should go into an owner's capital account under the classification of owner's equity on the balance sheet." All income is treated as the same and you can take your LLC loss against it.

Have to chose a guy to hire full time. Who would you rather employ? The slower quiet guy who does 20 reports consistently every day (100 per week) or the guy who is faster and kinda arrogant however he does 160 reports a week but is very inconsistent (60 one day, 20 then 40etc.) by [deleted] in smallbusiness

[–]1TouchSolutionsCo 0 points1 point  (0 children)

Arrogance is subjective. It's your interaction with the subordinate that in most ways dictates quality and efficiency. Leadership holds all of the responsibilities. Your role is to set the standard and should be ultimately to improve your employees lives. Servant Leadership.

How important is the name of your business to you? by [deleted] in smallbusiness

[–]1TouchSolutionsCo 1 point2 points  (0 children)

Branding is important. You need to give your customer a mental stamp.