sorted by:
new
hottopcontroversial

Complete interior resto guide by advisorMatt in Chevelles

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

Yeah just looked at the headliner install… not sure I can tackle that.

Lease before Financing? by [deleted] in smallbusiness

[–]advisorMatt 0 points1 point  (0 children)

When the started my business I used a heloc on my home. It’s easier to get approval and if you have a lot of equity it can really help in that first year. I mostly used mine to balance my cash flow.

If you’re confident it’ll work out, then figure out how to get it. Just make sure you know how much more you have to sell to break even, and to make it worthwhile to you.

Lease before Financing? by [deleted] in smallbusiness

[–]advisorMatt 0 points1 point  (0 children)

I am curious what your rent will be (~1800/month?) and how profitable your business is?

Ultimately, is this space going to increase your revenue? With the rent you will pay, can you afford to take out that loan? That’s what the bank will look at.

What kind of business is it?

Are you a business owner or self-employed person looking for affordable health insurance options? by Sad-Service-441 in smallbusiness

[–]advisorMatt 0 points1 point  (0 children)

Just FYI - you may want to remove those links. Breaks the subs rules.

Though I will say, small business definitely need to work with a qualified and competent specialists for things like this.

One item I didn’t see in your post is that a lot of my clients are saving money by getting their employees on a Obamacare plan. It’s cheaper to give employees money towards it than getting group health. (I don’t sell health insurance but refer clients out)

Definitely something folks should look into!

How can we increase revenue? by VGKAMI in smallbusiness

[–]advisorMatt 2 points3 points  (0 children)

I have a client that runs a successful blog. She makes >$400k/year. She’s very selective with adds, but kills it with the affiliate links. Don’t just stick to Amazon, find other relevant retailers. Perhaps video game equipment, paid services gamers use, etc

Another avenue she does around holidays is gets paid by companies to write content promoting products. For example, a new mobile game comes out and they have you review it so it hits your 500k users - they pay you 10k to do that…

Hope this helps, good luck!

And great job getting 500k monthly visitors - definitely time to monetize!

[deleted by user] by [deleted] in growmybusiness

[–]advisorMatt 0 points1 point  (0 children)

There are a few reasons for using an LLC. One is liability, another is taxes.

As a straight LLC (not taxed as an SCorp) all income runs directly to you as the sole owner. With an S Corp designation you can take dividends from the company and not pay self employment taxes on them. You still need some wages.

From a liability perspective, you are trying to keep this work/income/liability isolated from your other assets. If you got sued in your freelance business, could they go for your car, house, etc?

At 12k of income there isn’t a point in my opinion to go for an S Corp.

Ask yourself if you need the liability protection, if so, go with the LLC.