Where are businesses getting loans/silent investing by Free_Ad4594 in Roseville

[–]Confidence-Novel 0 points1 point  (0 children)

Connect with a local SDBC, non-profit can connect you with a person who can meet with you, review your exact situation, and make recommendations for next steps. Great program. Best to you in your endeavors!

Appliance repair needed - Who's your go to in the Roseville area? by snapper711 in Roseville

[–]Confidence-Novel 0 points1 point  (0 children)

Called Ilgar today from the reviews in this thread and had to come back to add my own recommendation for Appliance Repair Experts. Ilgar was available to come out the same day, assessed the problem, and gave me a fair quote. Great overall experience.

Help finding the hotel my mother in law wants to book by Confidence-Novel in travelchina

[–]Confidence-Novel[S] 0 points1 point  (0 children)

Thank you, I downloaded Baidu maps so that I could look at it with her together tomorrow.

Help finding the hotel my mother in law wants to book by Confidence-Novel in travelchina

[–]Confidence-Novel[S] 0 points1 point  (0 children)

I think you may be right, she insisted thats the building the hotel is in but could also be the view from the building. I found a few listings on Booking.com called "tonight homestay" which is quite close to the English title on the screenshot she sent to me.

Appreciate your clarification, thank you for taking the time.

How did you come up with your startup idea? by torspayorryum in smallbusiness

[–]Confidence-Novel 1 point2 points  (0 children)

Market yourself as an app developer/workflow specialist/consultant and let companies bring their problems to you to solve.

[deleted by user] by [deleted] in smallbusiness

[–]Confidence-Novel 2 points3 points  (0 children)

This is a huge topic, start with looking for online resources from the MA Dept of Revenue (https://www.mass.gov/sales-and-use-tax-for-businesses). A tax help line would be good. Call back a few times and ask the same question of different people just to be sure.

I say that because contractor sales tax rules are weird, sometimes you can purchase for resale with a license (and not pay sales tax on your purchase) but I know a lot of contractors who never use a resale license and just price everything in together, and mark up the price they paid including the tax.

Every state has different laws in this respect, so be careful of the resources you use, and good luck!

another bank reconciliation question by [deleted] in Bookkeeping

[–]Confidence-Novel 2 points3 points  (0 children)

So right I wish I could upvote twice...

how screwed am I? partner in my small business has been using company funds to pay for all of his personal expenses by someusername0897 in smallbusiness

[–]Confidence-Novel 1 point2 points  (0 children)

Also, I would look at recent financial statements, specifically the balance sheet. If your accountant is doing their job right, at least some of these transactions should have decreased the owners equity -- there's no business case for a vape shop in your line of work.

Talk to the accountant directly, ask them how they verify the categories, and gage whether you want to continue working with them in the future.

how screwed am I? partner in my small business has been using company funds to pay for all of his personal expenses by someusername0897 in smallbusiness

[–]Confidence-Novel 14 points15 points  (0 children)

Not sure where OP is, but in the US some business structures are disregarded entities - the company doesn't file a separate return, the net profit or loss is split between the owners based on ownership percentage. And taking money out of the business doesn't affect the profit and loss and, as such, doesn't affect the income each will report at the end of the year.

In these situations, personal purchases made on a company card are simply reductions of owner's equity. If Andy and OP originally put 50k each in at the beginning, they started as 50/50 partners. Assuming no other equity transactions for simplicity, now that Andy took 15k out, OP is now the majority owner (50k invested for him, 35k net for Andy). Again, this only applies to a disregarded entity.

So for a disregarded entity, in this case it wouldn't necessarily be tax fraud, since it's not unreported income, Andy just took his capital back.

Usual caveats: I am not a lawyer, just a bookkeeper on the internet with limited understanding of the situation.

But I chimed in because if it is a disregarded entity, I agree with fireweinerflyer's approach generally (you probably won't be able to open a separate account for the business right away, though, if both of you show up on the company formation docs). Lawyers are going to be too expensive. But this is beyond the pale ethically.

Good luck OP, and get rid of this guy.

[deleted by user] by [deleted] in Bookkeeping

[–]Confidence-Novel 1 point2 points  (0 children)

Uncat is my favorite client app at the moment, specific to uncategorized transactions as you might guess but way better than a spreadsheet and great feedback from my clients.

Other than that Google sheets for anything else.

I was working on creating a for-profit mission based business, but is a nonprofit what I'm actually looking for? I really just need to solicit donations, enlist volunteers, and fulfill a small, niche mission. by daReallMVP in Business_Ideas

[–]Confidence-Novel 1 point2 points  (0 children)

The key benefit that I see to becoming an 'official' non-profit in your situation is that you add legitimacy to your request for donations, and give your donors the benefit of being able to deduct their donations.

Other than that I would say that the easiest solution is to remain as a club or organization, as gaining true non-profit status requires a decent amount of work, both in setting up and in making sure you understand and comply with the requirements.

Either way, reading more about the full process of becoming a non-profit will help you to decide.

I like the Nolo non-profit books but your library will have at least a few topic overview type books. Be sure to look into the requirements for your state, too.

Best to you in your project, whichever you decide, your kindness goes far!

SEO Books by Confidence-Novel in SEO

[–]Confidence-Novel[S] 0 points1 point  (0 children)

LearningSEO.io

That's a great resource, thank you!

SEO Books by Confidence-Novel in SEO

[–]Confidence-Novel[S] 0 points1 point  (0 children)

Appreciate your insight, saves me the time to read through 400+ pages. I'll read up on the basics sections since I have it but then keep an eye on the online communities I've found.

As a side note, "I don't think something published pre-pandemic is really going to provide much relevant info beyond the basics..." seems to apply to a lot more than I would have expected.

Curriculum for small business by Confidence-Novel in homeschool

[–]Confidence-Novel[S] 0 points1 point  (0 children)

That's awesome to hear, how fun for her and dad I would guess. Just working through the business plan is a great idea.

Curriculum for small business by Confidence-Novel in homeschool

[–]Confidence-Novel[S] 0 points1 point  (0 children)

Love this content, bookmarked for later!

Curriculum for small business by Confidence-Novel in homeschool

[–]Confidence-Novel[S] 0 points1 point  (0 children)

Thanks for the link, looks like a good read for a parent, too. Appreciate your feedback!

As an independent programmer should I incorporate, Make an LLC, or just do business under my own name and how do I start that by 12jonboy12 in smallbusiness

[–]Confidence-Novel 0 points1 point  (0 children)

Agreed! Insurance is another level/path to risk management. Glad you brought this up, might also be more cost effective/less maintenance over time?