Žaloso and unsuccessful 👎 After just a few posts, it’s pretty obvious they’re missing that certain charm darkmaker94 has. You can't just fake that kind of vibe 😉
Taxes are one thing, service fees are another 😛 When you realize a profit, you're looking at progressive tax rates—starting at 15%, then 25%, and so on (though they’re trying to shake things up right now). That’s a government matter. On the other hand, a bank fee is just what you pay JP Morgan Chase for actually running the show. If you're moving money into your own account yourself, you might run into a situation where you have to explain the paper trail. You'll just have to clarify that these aren't capital gains, but rather just you transferring funds between your own pockets for personal use 😉
casuallynx6 said:Wasn't it always this way, though? I've spent my whole life being lectured about opening a side business on top of my main job, as if everything I've built could just vanish overnight if things ever took a turn for the worse.
If it had always been this way, the Supreme Court wouldn't have sat down on March 17, 2010, to hand down case no. U-I-2771 / 2008, which effectively struck down the disputed Section 20, Paragraph 1 of the Small Business Act. That specific part of the Small Business Act used to read: "For obligations arising from the conduct of a trade, the proprietor shall be liable with their entire invested assets required for the operation of said trade."
The rest of the explanation is in the link I posted 😉
I remember seeing some discussion about exactly what a sole proprietor is on the hook for—whether it's just the assets tied to the business or their entire personal net worth. I can't seem to track down the specific thread right now, but here’s an interesting article that touches on the subject.
...basically, small business owners are personally liable for their debts with everything they own, not just the equipment and cash they put into the company to keep things running.
General Electric, I’m with you on this—everyone carries the weight of their own mistakes, whether they're massive blunders or just minor slip-ups. The real kicker is what happens when you spot someone else dropping the ball. If you're actually in a position to step in and help, do you? Or do you just look the other way? That’s the fundamental question for any individual, and we all have to own whatever choice we make. Look, practically speaking, you count the cash because once a transaction is done, most businesses aren't going to honor a complaint later. He could have easily walked away with less than he was owed, spotted the error right then, and demanded a correction. He could have been the one losing out. But at the end of the day, deciding whether to return the surplus isn't about logistics; it's a moral crossroads. How you handle it—whether it's him, me, or anyone else—is a direct reflection of our own values. You’re the only one who has to live with your conscience when the lights go out.
General Electric, don't take my post personally. I wasn't aiming it at you specifically; I was speaking to anyone who ever finds themselves caught in a situation like this.
She isn't taking advantage... unfortunately The clerk who messed up is going to have to make it right. Look, anyone who works a job is going to slip up occasionally, and yeah, you own your mistakes. But wouldn't it be nice if there was a little room for grace when someone tries to fix an error? I can tell you from experience, I dealt with something similar a long time ago... back when we were still dealing with Deutsche Marks, if anyone even remembers those 😂 I gave it back, and honestly, I’ve never regretted it. If anything, I sleep better at night knowing I did the right thing. The woman behind the counter was incredibly grateful, and frankly, I don't have the stomach to hold onto something that doesn't belong to me. At the end of the day, you have to live with the choices you make—whether they're good, bad, or somewhere in between...
cosmictinker15, if you aren't pulling shifts for someone else, you've got to sign up for full-time hours just to break even—we're looking at roughly $583.
Terry Edwards6, pick a lane first: do you want to set up an LLC or go the sole proprietorship route? Once you decide, we can actually give you a straight answer.
Please, let’s not derail this thread. We’re here specifically to talk about the logistics and the headaches involved in importing goods from China. If you feel strongly about product quality issues, feel free to start a separate discussion focused on that. Thanks.
Nah, the maximum DPS is $250 per year. It doesn't matter how much extra you dump into savings; the amount stays capped at $250. And that’s only while you're actively saving—once you stop contributing, the DPS stops too. It’s just like what Steven Reed mentioned: "the government isn't incentivizing credit through these funds, they're strictly incentivizing savings."
Just order the goods, hire a freight forwarder, and handle the import process. There’s actually a dedicated thread about importing stuff over there, so you should probably check 😉
Technically, they can set up a small business without losing any benefits, but they’ll need to report being on maternity leave. The unemployment office won't cut a check during that time, and obviously, you can't actually be out there working the business while you're officially on leave.
Adam Alvarez7, It’s tough to give you a straight answer because there’s no way to predict if a landlord will actually agree to a five-year lease. That’s entirely up to what gets hammered out in the lease agreement. That document is also where you nail down exactly what the responsibilities are for both you and the owner.
The same goes for whether someone is going to try to screw you over in business. You can't know for sure. While having a signed contract offers you some protection, let's be real: it's only as good as the person signing it. If they decide to ignore the rules, your only recourse is filing a lawsuit, which is usually a long, expensive headache. Beyond the paperwork, you need to stay on top of the company's entire operation. You have to watch the overhead and the revenue like a hawk so you always know exactly where you stand.
Taking on a business partner isn't easy. You need a solid set of rules, and more importantly, everyone has to stick to them without making exceptions. It’s a double-edged sword. On one hand, it's great having someone else shoulder the business risks alongside you. On the other hand, it means someone else has the power to burn you, and they can do it fast. 😬
Take a look at what people here have said regarding running restaurants.
In their estimation, what kind of rent could we actually pull for a property like this—specifically for commercial space? I know there are market tables out there that break down the per-square-foot rates depending on the neighborhood.
Just pick whatever industry you want and don't sweat the label. Honestly, it doesn't matter what they write down—that's someone else's headache to deal with.
Wait, how is it possible that the 2007 GAAP standards aren't being applied here?