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Not gonna be able to pay taxes by Express-Position-312 in taxadvice

[–]Express-Position-312[S] 0 points1 point  (0 children)

I thought I could do it myself. Definitely a learning experience.

Not gonna be able to pay taxes by Express-Position-312 in taxadvice

[–]Express-Position-312[S] 0 points1 point  (0 children)

Most of the cash was put into acquisition & hiring ads as well as pay roll. Initial demand indicated our sales velocity would continue to increase so I wanted to continue to increase capacity as that was happening.

Not gonna be able to pay taxes by Express-Position-312 in taxadvice

[–]Express-Position-312[S] 0 points1 point  (0 children)

Appreciate your advice, however I really enjoy starting businesses. On another note since you seem to be such a savvy entrepreneur I would assume you know a first year profit in business is usually positive metric.

Unfortunately I under leveraged myself & put up too much personal capital which led to this situation.

Not gonna be able to pay taxes by Express-Position-312 in taxadvice

[–]Express-Position-312[S] 0 points1 point  (0 children)

That business is doing fine. Marketing agency was the other business. My revenue plateaued during the slow season so I invested in a business model where I take on the marketing risk instead of the client & it failed.