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  1. CareCPA

    Your Boss Doesn't Give A Shit About You

    NOTABLE! PEOPLE 
    Your eloquent posts make me think twice about getting large enough to hire employees...
  2. CareCPA

    When did you realize the system is rigged?

    NOTABLE! 
    At my first job out of college, at an accounting firm, I overheard one of partners saying how great the engagement they just booked was. Our firm did some outsourcing, so we would send our employees to a client to work - sort of like a specialized staffing office. The engagement they booked was...
  3. CareCPA

    Advice on Student Loan? what to do

    MINDSET 
    9%? Have you looked into consolidation/refinance options? To OP, 0.12% is practically 0. I don't see any major benefit to your parents paying this off for you, and it may strain family relations depending on how the pay-back goes.
  4. CareCPA

    Your Boss Doesn't Give A Shit About You

    NOTABLE! PEOPLE 
    Agreed with the integrity part, and intentionally misleading part. However, there is a lot of nuance in employer-employee relationships that we aren't going to be able to get from your forum posts (and that you might not personally have knowledge of). Interpretations of conversations can go...
  5. CareCPA

    Your Boss Doesn't Give A Shit About You

    NOTABLE! PEOPLE 
    +1. At the end of the day, it's the employer's capital at risk, and their responsibility to keep the business going. It's the employee's responsibility to decide how long they want to stay there, what they want to put up with, or what steps they want to take to move out/up.
  6. CareCPA

    How many days a week do you work on business? How many days do you rest? Why?

    HEALTH 
    I work when I can hustle up work to do. I have a full-time job, and I work on my business evenings and weekends. This often means getting up before the family, or taking a call after they go to bed. I still average fewer hours a week than most other people who are building a business.
  7. CareCPA

    What do I do with my 401K and Roth IRA?

    INVESTING 
    As I mentioned in the other thread, if you convert a traditional 401k to a Roth IRA, you will pay taxes on it, so make sure you do it in a "down" income year if possible. You can convert a traditional 401k to a traditional IRA with no tax consequences. Also, if you are still at the job with the...
  8. CareCPA

    Long-term Effect of DBAs and Subsidiaries on BRAND

    I was looking into DBAs for a different reason today. Not sure about NY, but in PA, filing a DBA does not guarantee you exclusive use of the name - other people can actually use the same name (which seems ridiculous). I would go ahead and file for the name to cover your bases. Whether you...
  9. CareCPA

    Where are all the Mobile Home Park Investors?

    HOT! REAL ESTATE 
    When you say "mobile home park," are these the stereotypical ones on TV where the tenants always have car parts in the driveway? Are these nicer ones where people take care of their homes? Or is it a mix? Are you putting new homes on the pads and renting the whole thing, or are you just...
  10. CareCPA

    Google Adsense PWC Scam

    RANT 
    Most states have rules that if a company has money held for another person, that after so many years it needs to be remitted to the state. The individual can then submit a claim for that money. If it's physical goods, it's often sold, and the money is retained for the individual. This can be...
  11. CareCPA

    Is it smart to start a business on a loan?

    Very impressive that they were able to start a retail business while owning the real estate with absolutely no financing. To tie it in to the OP, I don't believe that every business can be started with no financing. I know many on this website are debt-averse, but there are times where it can...
  12. CareCPA

    Is it smart to start a business on a loan?

    Did they pay cash for the building?
  13. CareCPA

    Is it smart to start a business on a loan?

    How is the debt secured? Is it an unsecured loan, or will it be secured against the real-estate and non-recourse to you? What is the debt for? If it's inventory acquisition for agriculture, that's probably less risky than speculative investments, as they will at least have some residual value...
  14. CareCPA

    How best to structure import and ecommerce business?

    One detail to watch out for: make sure your licensing costs from Widget Brands to ABC Holding and product costs from XYZ Trading to Widget Brands are based on something of economic substance, especially if you go the foreign route for any of the entities. The IRS is very strict on transfer...
  15. CareCPA

    Fear and Action-Faking in Entrepreneurship-- a 19 year old's guide to askholing.

    NOTABLE! 
    I've been following this thread to see how it ends, I'm hoping it ends in massive dropshipping sales for you and you prove us all wrong. Just to clarify, have you sold any drop-shipped products yet? I see a lot of ad testing, but no mention of conversion rates to sales.
  16. CareCPA

    Is it wise to turn my house into a rental property?

    REAL ESTATE 
    What's your business plan? 1. Hope for appreciation? (i.e. gamble while paying property taxes) 2. Timber? (usually low returns) 3. Rent out the farmland to a farmer? (usually very low $/acre) Don't get me wrong, you can make some great returns, but don't just go buy some land because people are...
  17. CareCPA

    Is it wise to turn my house into a rental property?

    REAL ESTATE 
    Plus, no matter what the IRS thinks, rental real estate is not a passive activity. If I'm going to be active in something, I want true returns, not just a hope for a return after 30 years.
  18. CareCPA

    Incorporating.

    HOT! 
    Considering they haven't been on the forum in 15 months, I'd say your chances are slim, but not impossible.
  19. CareCPA

    Is it wise to turn my house into a rental property?

    REAL ESTATE 
    Actual numbers: I bought 2 houses for $60,000 total in 2014. Have about $5k into rehab on each. All numbers below are 2016 numbers for the two combined. Rent: $1,425/ month Prop Mgmt: (114.00) Mortgage: (298.83) Total: 1012.17/ month or $12,146.04/ year 12,146.04/ Year ( 800.00) Insurance...
  20. CareCPA

    Is it wise to turn my house into a rental property?

    REAL ESTATE 
    Check Biggerpockets.com for good real estate advice. With townhouses and Condos, make sure the HOA fees don't kill your returns. I'll try to pull together an example from my portfolio tonight, if no one else chimes in. Some general advice from Bigger Pockets is to start with the 1% rule and...

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