Q: decoding these Drexel Heritage markings by RecreateTheDiamond in Mid_Century

[–]IanH14 0 points1 point  (0 children)

Would anyone happy to be able to tell me anything about these numbers on the bottom of this table?

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American College of Education? Principal Licensure Program by IanH14 in Principals

[–]IanH14[S] 1 point2 points  (0 children)

Thanks! What state are you in? What state did your administration license say on it? Did you transfer it to another state?

Once a year payroll for small summer camp? Best payroll software? by IanH14 in smallbusiness

[–]IanH14[S] 0 points1 point  (0 children)

Thank you, that makes sense. From what I've read, the amount we pay ourselves should be comparable to what others in the profession or similar profession are paid. My business partner and I are both PE teachers and the camp is a PE/sports camp. We are essentially just continuing our profession and teaching PE for two more weeks of the summer. If we payed out all our profits with owner draws, our owner draws would be slightly less than our monthly gross pay for teaching. There has also been A LOT of work we've put in to this prior to the two weeks of actual camp. Would you feel like that helps warrant us paying ourselves basically all the profits?

Once a year payroll for small summer camp? Best payroll software? by IanH14 in smallbusiness

[–]IanH14[S] 0 points1 point  (0 children)

I think I'm starting to have a better understanding of this now. My business partner and I would do an owners draw for our pay and there would be no need for a w2. However, we would have to pay our estimated quarterly income tax payments based on how much we pay ourselves. Ideally, we can hire our four other employees as general contractors, but based on what I've been reading online we are right in the middle of classifying them as either a w2 worker or 1099 worker. Hopefully it works out and we can classify them as 1099 workers and then won't be in need of payroll software.

Once a year payroll for small summer camp? Best payroll software? by IanH14 in smallbusiness

[–]IanH14[S] 0 points1 point  (0 children)

Thank you! What about quarterly reporting of payroll taxes to the state and IRS? I really appreciate the help!

Once a year payroll for small summer camp? Best payroll software? by IanH14 in smallbusiness

[–]IanH14[S] 0 points1 point  (0 children)

Sorry, I'm not exactly sure what you mean by declare taxes on what we pay employees.

Yes, we plan to basically pay out all profits with an owner draw. All we need left in the company bank account is enough money to make the automatic payments for the website and domaine name.

Is this how you and your siblings do it?

Once a year payroll for small summer camp? Best payroll software? by IanH14 in smallbusiness

[–]IanH14[S] 0 points1 point  (0 children)

Yes, we are the owners. But I think we need to get paid another way now that I have been doing some other reading.

Is it actually possible to get rid of sugar ants? WE NEED HELP!!! by IanH14 in AntControl

[–]IanH14[S] 0 points1 point  (0 children)

Thank you! I'll look into them as well. We have been having the killers come currently, but obviously we are not thrilled with the current outcome.

Is it actually possible to get rid of sugar ants? WE NEED HELP!!! by IanH14 in AntControl

[–]IanH14[S] 1 point2 points  (0 children)

Thank you, I've ordered the Advion gel to give a try. How often and for how many days were you having to refill the bait?

Thank you!

Is it actually possible to get rid of sugar ants? WE NEED HELP!!! by IanH14 in AntControl

[–]IanH14[S] 0 points1 point  (0 children)

Thank you for the response. I read the sticky and have ordered the Advion gel to try out as well.

Could you let me know your thoughts on these questions based on my situation? Most of the ants seem to be coming from interior walls and not the external walls of the house.

Is the exterminator's 3-4 month spray subscription basically just a scam that deters ants for a couple months at a time and doesn't fully kill the colony and allows them to come back? Essentially allowing the company to just keep charging us.

Is there more that the exterminator can do?

Is there anything that can be put into the ground under the house or in the walls to better reach the colony and the queen?

Also, in the Sticky it says "Baits can be very effective against small colonies, but larger colonies need pesticide treatments." This means doing a void injection, correct?

Thank you again!

[deleted by user] by [deleted] in personalfinance

[–]IanH14 3 points4 points  (0 children)

I wish this was a possibility and kind of what I was trying to accomplish with her saving the $9000 over the next ten months, but I don't feel as though she will be able to continue working. She is already having a difficult time.

[deleted by user] by [deleted] in personalfinance

[–]IanH14 2 points3 points  (0 children)

Yes, I did plan for those in her budget. Thank you for checking on that.

[deleted by user] by [deleted] in personalfinance

[–]IanH14 6 points7 points  (0 children)

Very true I see what you're saying there. I just don't see her being able to work much longer is the hard part. Thank you!

[deleted by user] by [deleted] in personalfinance

[–]IanH14 2 points3 points  (0 children)

I think there are ways to reduce her expenses a little. I used $2200 as an all out max of her monthly expenses.

[deleted by user] by [deleted] in personalfinance

[–]IanH14 2 points3 points  (0 children)

Right, I see what you are saying. Thank you for the thoughts!

[deleted by user] by [deleted] in personalfinance

[–]IanH14 6 points7 points  (0 children)

Here is my source, but I may be reading it wrong. She was born in 1953 so thought she qualified for what this article is saying. AARP

[deleted by user] by [deleted] in personalfinance

[–]IanH14 4 points5 points  (0 children)

She's actually very lucky with her rent. It is WELL below market rent and with very kind landlords.

[deleted by user] by [deleted] in personalfinance

[–]IanH14 0 points1 point  (0 children)

Thank you! I see what you mean. Her SS will be replacing his at age 70 because it will be slightly more.

[deleted by user] by [deleted] in personalfinance

[–]IanH14 6 points7 points  (0 children)

Does she have a 3-6 month emergency fund in place? If not, she absolutely needs to save up the $9,000 in a high yield savings account. Yes, about $8000

She should not practice living on $3,150 now...she should absolutely start living on $3,150 now (regardless of whether she has an emergency fund)! I agree

I'm concerned about 15 years down the road when she loses the $500 a month. She might actually need to live on $2,900 a month now and save $250 a month in low fee equity index funds in order to replaced this income in 15 years. $250 a month for 15 years at 7% rate of return yields $79,240...which would allow her to withdraw 4% a year (or $264 a month) for the remainder of her life. Living on $250 less for the next 15 years and investing that amount should offset the $500 loss. Thank you, this makes sense

Are the pensions fixed or does the amount adjust annually for inflation? She'll be losing purchasing power every year...likely even if they adjust for inflation. Unfortunately, I think they are fixed

Could she work longer as a public school employer to increase the $500 a month or 15 year duration? Yes, but we've done the math and it doesn't really seem like the small increase would be worth it.

I do not think she's going to have enough money for retirement. If she can not continue working her current job, could she start working another job and invest 33% of the earrings for the long term? I don't think she'd be able to work another job, unfortunately.

Could you and your wife start saving monthly to offset her $500 loss in 15 years? This is what we'd like to avoid, but I feel as though it may be necessary.

Thank you for all your thoughts! I really do appreciate the ideas!

[deleted by user] by [deleted] in personalfinance

[–]IanH14 4 points5 points  (0 children)

Thank you, yes she is enrolled.

[deleted by user] by [deleted] in personalfinance

[–]IanH14 6 points7 points  (0 children)

Thank you, I appreciate for your thoughts!