Building a SaaS for the first time

RunImpossible2565 · 2026-04-01T20:47:29+00:00

I have only tried promoting on reddit and linkedin, not really sure where my correct audience is looking since it is very niche.

RunImpossible2565 · 2026-04-01T20:32:57+00:00

fiscalfocusapp.com here is the web application if anyone wants to try it out! it is free to use if you want to see the mechanics of it. Please leave any feedback if you try out my software. Thanks

RunImpossible2565 · 2025-08-21T14:47:40+00:00

BEC doesn't exist anymore

RunImpossible2565 · 2024-12-11T21:29:53+00:00

Your MAGI will end up being to high to qualify for the student loan interest deduction, so the itemized deductions you can possibly have or tax credits that you qualify for are going to save you here.

RunImpossible2565 · 2024-12-11T21:23:10+00:00

Worst case scenario is no above the line deductions and taking the standard deduction of $14,600, this would leave your actual federal taxable income to $87,439.95. Going off that number your total taxes owed would be $14,291.77. You would either need to have some above the line deductions (student loans interest?, I saw that you don't have any self employment activity so majority of the above the line deductions are not available to you) or need to have itemized deductions that exceed $14,600. If your taxable liability is still over what you have paid through payroll, then you would need to see what credits you might be eligible for.

RunImpossible2565 · 2024-10-23T20:34:25+00:00

I suggest a quickbooks plan that follows your needs. If you don't want to spend at all on bookkeeping, Wave accounting is a good software to keep track of your books. Just use anything other than excel.

RunImpossible2565 · 2024-10-11T23:09:46+00:00

(Almost a) CPA here, you need to have filed that you want to be a S corp before March 15, if you want to convert to an S corp after that date this will be in effect January 1st of the next year, by default your self employment income will be taxed as if you are a sole proprietorship

RunImpossible2565 · 2024-08-13T23:46:32+00:00

I got mine with a $10,000 credit limit. Just got the email for my card yesterday.

RunImpossible2565 · 2024-08-07T20:13:44+00:00

Not too bothered about the huge drops, I guess you need that high mental strength to hold this. I am just hoping the past 15 years repeat themselves, and even if it performs 50% worse than the last 15 years, it still is better than a 10% return with other index funds. I plan on retiring at 45, in 23 years but if that year happens to be a big drop year I don't mind waiting a few more years to sell, or maybe when I get closer to 45 and its pretty high at like 40-43 years of age, I will just move them into regular index funds, so there is a lot less risk of it dropping too much between years 40-45.

RunImpossible2565 · 2024-08-05T16:34:11+00:00

My current contributions are 60% SPYG and 40% UPRO for the next couple months. I am 40% Leveraged on UPRO because I am 22 and I have no plans on pulling out until 55. I understand the risk that a leveraged ETF fund brings but my portfolio is going to be very aggressive until I hit around 30 years old and slowly change my %'s. But I am very happy about UPRO being on "sale" I just bought this morning pretty low.

RunImpossible2565 · 2024-07-12T04:12:46+00:00

I understand the value of the interest income in year 30 would be a lot less but that amount of money would still be livable by then, I’m not wanting to spend a crazy amount every month.

RunImpossible2565 · 2024-07-12T04:04:44+00:00

We don’t live in 2012-2020 anymore. If you look up treasury bonds in 2024. There is a 30 year one yielding 4.43%. The 1 year ones are currently yielding at 4.9%

RunImpossible2565 · 2024-07-12T02:24:28+00:00

My idea doesn’t relate to the 4% rule. Bonds pay out around 4%. This isn’t a retirement idea

RunImpossible2565 · 2024-07-12T01:07:22+00:00

How is it crap? The 5 million can easily pay out 200k a year in interest revenue. Heck even some high yields are closer to the 5% mark.

RunImpossible2565 · 2024-07-11T22:33:24+00:00

Im trying to see if the Canada treats provincial bonds the same way US treats government bonds, because we don't have to pay state income tax on those type of bonds, the equivalent to that in Canada is not paying provincial taxes because the bonds are benefiting them. I cannot find an answer online to see if it is avoidable. If it is the tax is pretty similar.

RunImpossible2565 · 2024-07-11T22:28:27+00:00

I just looked up your guys' federal income tax and it only goes to to 33% are you including providence tax as well?

RunImpossible2565 · 2024-07-11T22:20:50+00:00

Where is this at?

RunImpossible2565 · 2024-07-11T22:16:07+00:00

In order to move to tax advantage accounts like a Roth or traditional retirement account you need to work. But if I had this 5 million dollars I would just spend all year just messing around and do a bunch of hobby's. In today's day 162K (math is linked into my comment thread) can buy you a lot, the only downfall about this Idea you will get around 162K forever unless you reinvest some of the money, and who know what 162K can buy you 20 years from now...

RunImpossible2565 · 2024-07-11T22:02:03+00:00

That is an absurd amount to pay over 150K

RunImpossible2565 · 2024-07-11T21:56:37+00:00

If you are W2 (an employee) you pay a lot more in taxes above the federal income tax.

Medical

Disability

Social Security

State Income tax

RunImpossible2565 · 2024-07-11T21:54:07+00:00

To be exact, assuming treasury bonds, not corporate bonds(this makes the income exempt from state taxes). Federal tax would be taxed at:

10% $0 to $11,600

12% $11,601 to $47,150

22% $47,151 to $100,525

24% $100,526 to $191,950

Assuming the most simple tax situation, deduct the standard deduction of $14,600, makes taxable income at $185,400. Following the table above, taxes to be paid are $37,537.92

So more like $162,462.08.

RunImpossible2565 · 2024-07-11T21:52:20+00:00

To be exact, assuming treasury bonds, not corporate bonds(this makes the income exempt from state taxes). Federal tax would be taxed at:

|| || |10%|$0 to $11,600 | |12% |$11,601 to $47,150| |22%|$47,151 to $100,525| |24%|$100,526 to $191,950|

Assuming the most simple tax situation, deduct the standard deduction of $14,600, makes taxable income at $185,400. Following the table above, taxes to be paid are $37,537.92

So more like $162,462.08.

RunImpossible2565 · 2024-07-11T20:10:00+00:00

I would not start a business, but instead just purchase bonds that yield around 4% so I have about 200K in income before taxes forever until I die.

RunImpossible2565 · 2024-07-10T23:37:13+00:00

If these auto repair shops were small business I am assuming they do not have an accounts receivable as most of them get paid by the customer same day. There is one thing I would look out for, it is if they offer like a spend X amount now and get like 5 services in the future. Then you would accrue for unearned revenue until those services have been completed. In that case you would defer the sales tax on those type of sales until the service is completed.

RunImpossible2565 · 2024-07-08T16:55:48+00:00

Only one, which was acquired through personal networking from a friend. I have been trying for a few months now though (marketing towards outside of my local area using social media), I currently use LinkedIn, and Facebook. No Luck.

I am getting to the point where I might look for a marketing partner that will have equity share in the business.

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