Posts by mellowfox56

urbanwolf10 said:Hey everyone,
I’ve been seeing people mention in a few spots here that self-employed folks have to shell out for things like health insurance even if they’re already covered by an employer elsewhere,

Since I run my own small business while working at JPMorgan Chase, I don't pay any extra taxes or contributions—just my usual fees for the American Bar Association, my accountant, and the bank—so does that mean I'm actually breaking some rule or what?

silverbison293 said:it took me that long just to get everything ready... 🤷

silverbison293 said:silverbison293,

You come across as pretty green—honestly, you seem to lack the fundamental business acumen required for this kind of thing—so I wouldn’t recommend diving into the entrepreneurial deep end with such limited knowledge... it's risky.

If you’re the one actually owning the company, then legally, the buck stops with you—you’re responsible for everything the business does—but since you don't even grasp the basics being taught by your professor (and let me tell you, she's been an absolute lifesaver with her guidance so far 🙏), it would be incredibly reckless to launch a venture that your partner will be running while you sit there with almost zero understanding of how commerce actually works.

One more thing—while advice on a forum like this can be helpful, it should never, ever be the foundation of your expertise; think of it as a mere suggestion or a starting point, nothing more... you need to seek out actual verification elsewhere to confirm if what you're hearing is right or wrong.

Some things here aren't quite clicking yet—there's a clear lack of the essential information that your partner clearly possesses... 🤷

Gary Thompson88 said:Thanks for getting back to me so quickly.

And for clearing some of this up.
I’m planning to run this by a lawyer next, too—this is just the preliminary stage of my research.😁

Regarding that commercial lease situation (for the space in my parents' house), I’m still a bit fuzzy on the details.
My sister-in-law used to run her own accounting firm out of her home—which is the same address where my parents live—so she never actually dealt with a formal commercial lease.

Gary Thompson88 said:Oh, and one more thing,
this individual intends to stay put at a firm doing the exact same line of work.
Is there any real reason—besides the obvious—why they’d be pushing for me to be a co-owner rather than just an employee or some director?

Charles Howard74 said:So, I swung by the notary's office today to sort out my business registration stuff. Turns out, things got a bit messy because of some legal shifts a couple of months back. That old national classification system we’ve been using since 2007? Yeah, it's basically dead. Now, these notaries have to follow specific guidelines handed down from the commercial courts—guidelines that are strictly internal. You won't find them floating around on Google or anywhere else online. Total mystery, right?
"Per Article 51 of the Judicial Register Act, any business activities being registered must align with specific federal statutes. If there isn't a specific law governing a particular activity , then it gets logged based on the entity's own filing and official documents, provided the business isn't prohibited by law, doesn't violate public morality, and isn't tied to government agencies, public officials, political parties, or other legally restricted entities."

Matthew Hall80 said:I’ve been seriously weighing the idea of launching my own small business here in the States...

I have two different paths in mind, but honestly, I’m stuck on which direction actually makes sense to pursue.

First off, I’m an IT guy—graduated from a solid tech program back in Columbus—and I’m thinking about opening a retail shop in my hometown that specializes in computer, audio, and video gear, mobile devices, and satellite equipment.

So, we're talking computers, smartphones, TVs, high-end audio, car acoustics, satellite setups, and all that good stuff.

I actually have a vacant ground-floor unit available in a building I own, though the space isn't massive—maybe around 270 square feet total, or about 215 usable square feet once you subtract the bathroom and utility area.

The catch is, I’m currently working a full-time job, and I can't quite figure out the logistics... is it more profitable for me to just quit my day job and go all-in on the shop, or should I hire someone to run the storefront while I keep my current position and just jump in to help out here and there when needed? It's a bit of a balancing act...

What exactly does the checklist look like for something like this, and what kind of startup costs am I looking at?

Betty Gonzalez91 said:I found what I was looking for: it turns out I can start my own small business even if I'm currently employed elsewhere (assuming that rule hasn't changed recently). However, I am wondering if my employer needs to be officially notified that I've launched my own venture?

Henry Edwards33 said:Any gear you picked up before officially launching your small business can be rolled into the company via a small business owner decision. You can just use your old receipts as backup to prove exactly what that equipment is worth.

mellowfox56 said:The value of one point is $3.25, go look again, it's right there at the end for you

mistytinker26 said:Thanks, really appreciate it.

On , Article 9

(2) When amending a corporation's articles of incorporation, the transaction value is determined by the scale of the change relative to the company's net assets (total assets minus liabilities). If the change involves a specific cash amount, that figure is used. L D U

(3) In cases involving the transfer of shares in a corporation, the applicable value is either the value of the transferred share if it exceeds the consideration paid, or the consideration itself if it is lower.

Article 12 states:
If the value of the subject matter of an official act is:

USD to USD points

0 5,000.00 25
5,001.00 10,000.00 50
10,001.00 50,000.00 75
50,001.00 75,000.00 100
75,001.00 100,000.00 125
100,001.00 150,000.00 150
150,001.00 200,000.00 175
200,001.00 250,000.00 200
250,001.00 300,000.00 225
300,001.00 350,000.00 250
350,001.00 400,000.00 300

The only thing I couldn't dig up—believe it or not—is 🙂 the actual value of a "point." By the way, I assumed the currency in the US was dollars, but apparently not according to the notary and lawyers. I'm just waiting for my local grocery store to tell me a loaf of bread costs fifty points.

To cut to the chase, what is the current value of a point, and how is the company's net assets calculated if the company hasn't been operating for very many years? Is it based on initial capital? How am I supposed to prove the amount to the notary? I doubt they'll just take my word for it.

mistytinker26 said:Thanks for the info. CNN pointed me toward the memo, but I wasn't exactly surprised by the news. 😢 Honestly, I saw this coming.

Next question, if anyone knows: how much does it cost to formalize an amendment to the articles of incorporation? Apparently, that's the next step we have to take.

mistytinker26 said:What’s the cost to change the founding members of an LLC through the commercial courts? Is it possible to skip the notary entirely—just walk up and say, "Good morning, I want John Smith to be the founder instead of Joe Smith"? What’s the first step, and how long does this whole process actually take?

Bryan Booth5 said:Hey everyone!

On a side note, I could use some help here!

I have two questions. First, I’m based in New York City, but I want to register my business in a different state—what does that process look like? Second, I have a degree in hospitality and tourism along with a bartending certification. Can I start a catering or bar business with those credentials, or am I required to pass a master's exam first? Or can I just get by as a sole proprietor?

Thanks in advance!!!

Charles Ramos7 said:They do.☕

Adam Taylor12 said:Does current labor law permit retirees to work for an LLC—perhaps just a few hours a month?

rapidwolf43 said:So, once I get my LLC up and running, can I just hire myself out on an independent contractor agreement? Also, is it actually legal for me to handle all my own bookkeeping?

slyrider10 said:I'm looking to pick up a Samsonite rolling suitcase somewhere in downtown Chicago—does anyone know where I can find one in stock? Also, any idea what the typical price range is for those bags lately?

Thanks!