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  1. CareCPA

    US-Based Taxes/Business Formation (CPA)

    TAXES | REGS AMA 
    Minor updates for the new tax law. More forthcoming.
  2. CareCPA

    So in a nutshell, LLC = less taxes VS Self Employed?

    TAXES | REGS 
    The remainder is not tax free. It is taxed at your normal income tax levels, it's just not taxed for self-employment. And if you can accomplish this level of profitability, you may want to start some more sophisticated tax plans. Most states will still drag you in, which is why I'm confused...
  3. CareCPA

    So in a nutshell, LLC = less taxes VS Self Employed?

    TAXES | REGS 
    You could pay them to yourself as a distribution. Since you're taxed when the money is earned (hence the "passthrough" designation), there is no tax on this distribution. Here is a post that I need to update for the 2018 tax changes: A-M-A - US-Based Taxes/Business Formation (CPA)
  4. CareCPA

    So in a nutshell, LLC = less taxes VS Self Employed?

    TAXES | REGS 
    As an LLC owner and operator, you are still subject to self-employment tax. In fact, if you are a single-member LLC, your LLC will show up on the Schedule C of your tax return just like a sole-proprietorship would. Any business expense can be written off, no matter what your entity type. As...
  5. CareCPA

    Burned down my slowlane political career for entrepreneurship 17 months ago

    SLOWLANE EXECUTION 
    A data point on this: for a lot of product-heavy e-commerce businesses, the owners take very little money out and reinvest the cash back into their products as they're growing. I know you probably don't view yourself as an e-commerce business, but I would argue the concept is the same.
  6. CareCPA

    Burned down my slowlane political career for entrepreneurship 17 months ago

    SLOWLANE EXECUTION 
    Right, but the wholesale route should be repeating orders. Plus, as you add new products, you already have an established relationship with them. Current effort-to-pay ratio is high, but gets dramatically lower as time goes on and you have the relationships developed.
  7. CareCPA

    Burned down my slowlane political career for entrepreneurship 17 months ago

    SLOWLANE EXECUTION 
    I wouldn't take any job until you're sure that you've contacted every outlet you possibly can about wholesale options. @Scot has a good thread on wholesaling in here that may give you some pointers (I don't know if I mentioned that before or not).
  8. CareCPA

    Is this normal in sales?

    SIDE HUSTLE 
    As a business owner, if you reach out to me, I want to know how you're going to increase my sales and profitability. If you don't have a believable case study on that, I'm not interested. I know my website isn't the best. It's functional. Until someone shows me that their version will get me...
  9. CareCPA

    Who here is actually a millionaire?

    LANDFILL 
    May as well take @annagreenang with you too.
  10. CareCPA

    Possible Blue Ocean? Affordable "tiny" housing park

    HOT! REAL ESTATE 
    If you go actual low-income housing, there are some pretty substantial tax credits available. Normally how this would work is investors team up with a non-profit. The investors front all the money, the nonprofit manages it, and the investors get significant tax credits relative to their...
  11. CareCPA

    Possible Blue Ocean? Affordable "tiny" housing park

    HOT! REAL ESTATE 
    This is true. We just built a house - it's 1250 square feet. Do you know how hard it is to find a floor plan for new construction under 3,000 square feet that has two full baths?
  12. CareCPA

    Stop what you're doing. Get a line of credit.

    HOT! 
    You could try Fundbox or Kabbage. The interest rates will be high, but if it's just short term it may not make that much of a difference .
  13. CareCPA

    Under 18, know web design but can't get a contract because of age. Any advice?

    SIDE HUSTLE WEB DESIGN 
    Gotcha. I would say replace them as soon as you get real examples. Or, if you have downtime, build them out more fully.
  14. CareCPA

    Possible Blue Ocean? Affordable "tiny" housing park

    HOT! REAL ESTATE 
    Ah, I see exactly where the misunderstanding is. You are discussing tiny homes in the sense of a small house built on a trailer, able to be pulled and moved with a truck. I was thinking of something more like this: Welcome To "Bestie Row": Lifelong Friends Build Row Of Tiny Houses In The Middle...
  15. CareCPA

    Under 18, know web design but can't get a contract because of age. Any advice?

    SIDE HUSTLE WEB DESIGN 
    Are the websites under "Example Websites" ones you've actually done? If not, pull them. If so, build them out more. If I click on an example, I don't want to see the template Latin on an example of a site you say you built. Your "About" section is weak. Check out some of the copy-writing...
  16. CareCPA

    Possible Blue Ocean? Affordable "tiny" housing park

    HOT! REAL ESTATE 
    Some questions, since I'm a little ignorant of this area of RE development: Why not? If you own the RV park, don't you get to say when people can live there? How do campgrounds with tiny cabins get around this? Is this a local zoning issue? If so, that would vary by city. If they aren't...
  17. CareCPA

    My Attempt To Make $100,000 Using My Laptop (A Case Study)

    EXECUTION 
    @Argue also wondering if there are any updates.
  18. CareCPA

    Ads

    RANT 
    iPod.
  19. CareCPA

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    This is excellent information. Is there maybe a "Mining for Dummies" thread somewhere so I don't ask simple questions and clutter up this thread?
  20. CareCPA

    You’re not selling wholesale?

    NOTABLE! 
    I read somewhere that one day @Scot woke up, started hustling, and just never went back to sleep.

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