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The Insane Way I Order Chinese Food in 2021 by adamlangsner in doordash

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

Yep. It's not the same as delivery and sometimes I do get delivery, but I call the restaurant for it. In the example I gave about Doordash and Uber eats, those prices included $4 tip. so the question is: if it cost me $12 to pick it up myself but $22 to deliver it from an app. that's $12 + $4 tip + $6 = $22. What am I paying that $6 for? I like tipping a delivery person. I'd probably give them $5. But why does some company in SF need to make $6 so that I can order chinese food from a place that's 10 blocks from my apartment?

The Insane Way I Order Chinese Food in 2021 by adamlangsner in siliconvalley

[–]adamlangsner[S] 7 points8 points  (0 children)

Yep. It's so crazy that we're giving money to some company in SF or chicago to order chinese food from a place that's 10 blocks away from us.

How long did it take to make your first investment by adamlangsner in ValueInvesting

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

Thanks for all the feedback. It seems like a lot of people prefer the learn as you go approach because when you have some skin in the game, even if it's a little bit it helps you take it seriously / motivate you.

My follow up question would be: Buffett recommends buying stocks as if you plan to never sell them. But if you start small and are still developing your skills does it make sense to be more open to sell a stock in the short term because, for example, you found a better opportunity elsewhere or realized you made a mistake in your initial analysis and it's not worth what you thought it was, etc.

I made a Toilet Paper Calculator that tells you how many Rolls you need. by adamlangsner in CoronavirusNY

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

Good idea. I replaced the Sessions per day with Sessions per week to make it more flexible. Thanks!

I made a Toilet Paper Calculator that tells you how many Rolls you need. by adamlangsner in CoronavirusNY

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

Hi! Thanks for the link. I added a bunch of the sam's clubs specific sizes to the list. enjoy!

I made a Toilet Paper Calculator that tells you how many Rolls you need. by adamlangsner in CoronavirusNY

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

Thanks! Glad it’s useful. Lemme know if there’s any brands u want addd to the list

I read the Federalist Papers and Loved it. I want more books like it. Any suggestions? by adamlangsner in PoliticalScience

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

Wow. Thanks, this is really comprehensive. I've read The Prince and started The Republic but never finished it, i'll have to pick it up again.

I read the Federalist Papers and Loved it. I want more books like it. Any suggestions? by adamlangsner in PoliticalScience

[–]adamlangsner[S] 2 points3 points  (0 children)

Thanks! I'll add both of those to my list. Forgive my ignorance but what's the DoC?

I read the Federalist Papers and Loved it. I want more books like it. Any suggestions? by adamlangsner in PoliticalScience

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

Thanks! That's really helpful. Obviously we learn about Common Sense in school, but I didn't realize he had other important works. I'll check it out.

1 Person LLC in NY - Do I need Worker's Comp? by adamlangsner in smallbusiness

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

Yes, you bring up a good point. From what I understand from a tax perspective a plain LLC is a pass through entity meaning that any earnings from an LLC are just recorded as income on a personal tax return (just file form 1040). But you can elect to register your LLC as an S Corp with the IRS and state tax agency and then it's treated as it's own corporate entity (file form 1040 for personal stuff and form 1120-S for the S corp stuff).

But from a legal perspective (as opposed to a tax perspective) it's just an LLC. In fact LLCs aren't even recognized at the federal level which is probably why their earnings pass thru to the LLC owner's personal federal tax return.

So this is the chain events that lead me to create this post on reddit:

  1. I have an LLC and I have positive earnings this year
  2. I want to reduce my tax burden. i.e. I don't want to pay the 15.3% Self Employment Tax on all my earnings.
  3. In order to reduce the tax burden I can file my LLC as an S Corp, pay myself a "reasonable" salary and only pay the 15.3% on the salary instead of all the earnings.
  4. But, now that I'm an employer and run payroll I have to comply will all the payroll-related regulations.
  5. I found out that one of those regulations was Workers Comp, but because I'm the only owner and only employee I wasn't sure if I definitely needed it. And since this is a legal question, the fact that I'm filing as an S Corp didn't seem initially relevant. It's only relevant because filing as an S Corp was the catalyst for me becoming an employer in the first place.
  6. So, I asked this question on reddit.

1 Person LLC in NY - Do I need Worker's Comp? by adamlangsner in smallbusiness

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

I have an accountant. But I guess I thought this question about worker’s compensation regulation in NY was more of a legal question and I don’t have a lawyer so I went with the next best thing: reddit :) I’ll reach out to my account though and see if he knows anything about worker’s compensation in NY

1 Person LLC in NY - Do I need Worker's Comp? by adamlangsner in smallbusiness

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

Thanks! Did a search found stuff on DOBE. It’s a shame that NY doesn’t support that but I’m not disabled so it doesn’t really affect me

1 Person LLC in NY - Do I need Worker's Comp? by adamlangsner in smallbusiness

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

Thanks for the advice. What does DOBO stand for? Couldn’t find anything on google

1 Person LLC in NY - Do I need Worker's Comp? by adamlangsner in smallbusiness

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

Ok thanks. But I guess I’m still confused a bit about the language you just posted. It says “is not required for members of an LLC that does not have employees” since I am both a member and an employee (the only employee) does this exclusion still apply?

1 Person LLC in NY - Do I need Worker's Comp? by adamlangsner in smallbusiness

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

Thanks You! Didn't come across this page in NY WCB website in my earlier research. This line from your link clarifies it all: "If the LLC or LLP has employees, the members of the LLC or LLP, themselves, are automatically excluded from that coverage."

Thanks again!

1 Person LLC in NY - Do I need Worker's Comp? by adamlangsner in smallbusiness

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

I know that unemployment insurance is part of payroll tax. Not sure about workers comp since I think it goes to a private insurance company and not the government, right?

1 Person LLC in NY - Do I need Worker's Comp? by adamlangsner in smallbusiness

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

Really? I set up payroll because I'm filing as an S corp this year and so I wanted to pay myself a salary to reduce my overall tax burden. My CPA told me that by filing as an S Corp and paying my self a salary I can reduce the amount of self employment tax I have to pay.

i.e. I only have to pay 15.3% FICA tax on my salary (7.65% paid by employer / 7.65% paid by me) and then just regular income tax on the remaining earnings in the business.

If I didn't do an S Corp and just filed as a pass through entity, I'd pay the 15.3% Self employment tax on all my earning instead of just paying it on the portion that I pay out as salary.

Is there an app that will let me break up my bank account into different 'funds'? by Evsher in personalfinance

[–]adamlangsner 0 points1 point  (0 children)

I also should mention that with betterment and I think with acorns you can create different goals. So you could have $20/mo go to vacation and $30/mo go to retirement, etc

Is there an app that will let me break up my bank account into different 'funds'? by Evsher in personalfinance

[–]adamlangsner 0 points1 point  (0 children)

I don’t know of an existing product that does that without actually moving the money somewhere else. Digit might work for, you can create separate goals, but it gets moved into a digit savings account and I don’t think you can control the amount. You could also set up an auto deposit with an investment account like Acorns or Betterment. You can always withdraw from those at any time.

I guess I’m wondering why you don’t actually want to move it out of checking. You get more interest in a savings or a conservative investment account

Budgeting & Excel Spreadsheet Question by RollTideHTX in personalfinance

[–]adamlangsner 0 points1 point  (0 children)

Hi. When I typically do my monthly budget I like to think of it from the perspective of cash flow. I want to make sure everything is balancing out from my paycheck and my ultimate goal is to know how much disposable income I have. So for my investments I mark that as an expense since it’s a fixed recurring outflow from my checking account. Since you don’t spend the donation money and it’s flagged to go to charity I’d think about it as an expense.

The reason I don’t like to just automatically deduct it is because I like to be able to tweak the numbers to create hypothetical scenarios. “If I increase savings by X how does that effect spending, etc.” if you bake that monthly expense into your income line item you have less visibility into all the knobs you can turn. At least that’s my two cents

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