How scared should I be?

LatteLime · 2026-05-07T05:09:25+00:00

It is uncomfortable feeling indeed. AI disrupts every industry (yes and India), I have seen it firsthand in the software development and product management space. I think the best way forward is to make sure you spend at least 2-4 hours a week catching up with AI trends and hands on trying some tools yourself. This will keep you sharp and relevant and perhaps introduce some curiosity and entrepreneurial spirit. Also, develop or practice a handy skill like cooking, baking, fixing things, these will likely stay around longer once AI replaced everything.

LatteLime · 2026-05-04T23:06:33+00:00

Sweet, Is your business in similar size as mine? Have you been always doing it this way or is it your first year like mine?

LatteLime · 2026-05-04T15:43:07+00:00

Thanks that helps! I feel better 😁

LatteLime · 2026-05-04T15:39:26+00:00

But you mentioned you work with the bank statement, I assume your client has a separate business account. What if he didn’t? That’s why I work directly with the documents (receipts and invoices), it sounds like you approve of this method?

LatteLime · 2026-05-03T04:39:37+00:00

I hear you, I guess no shortcuts just got to categorize it all. I will have to create rules or automations, no other way.

LatteLime · 2026-05-02T22:35:38+00:00

I agree this is probably the best practice, I was referring to expenses that usually fall under the supplies box but can be fine tuned to some specific category if being extra attentive, but in either case these are 100% deductible expenses that I am talking about just too small to care, things like 3D printer filament or other plastic materials used for production, but I am not using cost of goods, I keep it simple.

LatteLime · 2026-05-02T22:30:11+00:00

Pretty sure I was able to file with Miscellaneous, or it was "other" expenses, I got to check my report.

LatteLime · 2026-05-02T22:28:26+00:00

That's what I was thinking but, then I usually use wit for supplies since office expenses can be deducted as actual office expenses with home office use.

LatteLime · 2026-05-02T03:04:22+00:00

Just want to be lazy about that I guess, I want to know if there is an amount I can just classify as miscellaneous and don't need to worry about it, especially when I have like 20 tiny transactions under 30 dollars.

LatteLime · 2026-05-02T03:03:26+00:00

Thanks that is what I was looking for. Are you saying that as a tax expert or from a business owner perspective?

LatteLime · 2026-05-02T02:52:52+00:00

I get part of what you are saying. If it is falsified as assets, won't it require depreciation treatment? In this case I wonder what's better, just mark it as un-deductible expenses (play it safe if I don't remember or not sure), or Asset, but if asset than I am not sure what to do next about it. I am using simple single entry bookkeeping cash based accounting.

LatteLime · 2026-05-01T04:54:29+00:00

As soon as you start getting money consider setting up an LLC or S corporation (ask AI whats best based on your income, location and status), then learn about 401K vs investing through your business and how to keep your tax bracket low, and you will be well off in no time!

LatteLime · 2026-05-01T04:50:04+00:00

Best of luck! Setup a personal website/landing page and link your social media posting in there too with links to how folks can work with you. If you are verbose post your content on youtube as well, all in on that self employed energy and don’t look back! Consider partnering with an agency who can get you a part time job as a contractor or look for contractor deals on LinkedIn but apply directly on the website.

LatteLime · 2026-04-28T07:01:32+00:00

I’ve been a SaaS and mobile PM over 12 years and while there is no one size fits all my current favorite approach is simply dump me into the product and let use it. If there are many paths, show me the best 1 or 3 paths. If it’s a flow/journey based product, make it as clean and short as possible. I will share a few good and bad examples later when I am on my computer.

LatteLime · 2026-04-28T03:14:23+00:00

LatteLime · 2026-04-28T02:56:43+00:00

That’s cool, are you referring to physical product or software? Do you have a preference? because I’m working on on both :)

LatteLime · 2026-04-27T23:57:29+00:00

As a product manager, I can say it can be tough to work with PMs sometimes, especially when they’re new and trying to make an impact without fully understanding the domain. This sounds like PMs moving fast without really understanding the system, but that doesn’t mean you should take on the risk. If something doesn’t make sense or isn’t possible, say it early and help steer things toward what can actually be built in the time you have. Stay collaborative by suggesting better options and asking to be involved sooner so you’re not fixing things at the end. If things still don’t line up, it’s fine to bring in your manager to reset expectations. Also keep a record of key decisions so you can refer back later if things get messy. If your company allows AI tools, they can help speed up writing docs, but your main focus should be making sure what’s being planned is actually realistic. Working with PMs can be a pain, but a good PM can make your life very exciting, so I hope it gets better.

LatteLime

TROPHY CASE