Posts by rustycyclist5

casualstag4 said:You need a director. Period. Without one, the company doesn't legally exist in any meaningful way. Since you're planning on using students for everything, you could technically be "unemployed" directors. The IRS won't bother you, though it might be smart to find someone and report them for just one hour of work just to keep things airtight.

Thanks, 👍

What happens when a company essentially functions by outsourcing everything? My partner and I are looking into launching a web portal together, though we both intend to keep our current full-time jobs elsewhere.

If we handle all the billing ourselves—covering things like content creation and web development—but actually hire freelancers or students on short-term contracts to execute the work, is it legally viable to operate without a formal director? Would it suffice to have a proxy or an authorized signatory who doesn't draw a salary to sign those various vendor agreements?

The reality is that virtually all the labor, both now and moving forward, will be handled by students and independent contractors under service agreements.

David Barrett85 said:So, what you're suggesting is that if I show up with a receipt, they’re legally bound to calculate the car's value based on whatever price is printed there—say, applying a 2% premium to that total?

What happens when they start playing games with the math?

EDIT: I just checked the Allianz website, and they list the vehicle's replacement value as $45333, making the difference to 105,000 exactly $10333...which, let's be honest, results in a $267 higher premium if we're calculating based on last year's 2.6% comprehensive rate.

Furthermore, how exactly is this "50% bonus" calculated? Because in my experience, a 50% discount is never actually 50%; at best, you're looking at 35%, according to this latest comprehensive quote.

I hope everyone understands why I'm so frustrated here. They are being incredibly slippery with these numbers.

Yes, they are required to respect the receipt because it serves as the definitive proof of the vehicle's actual acquisition cost. If they start trying to manipulate the figures, honestly, just turn around and walk out of 🤷

Regarding that 50% comprehensive discount, you only qualify for it if you bundle it with your auto insurance through the same carrier. If you don't have that bundle, the maximum you'll see is 30%.

Sent from my A-123 using Reddit

David Barrett85 said:To hell with their games; they quote one value to me at $49000, another one at $127,000, and a third at $124,000, yet I actually paid $105,000 for the thing.🤣
When you try to show them your actual receipt, they just shrug and tell you it doesn't matter because they have their own internal pricing models. If the premium is supposed to be 2% of the vehicle's acquisition cost, then it should be calculated based on what was actually paid, not some arbitrary figure they pulled out of thin air.

This really ought to be regulated by law. That way, we could actually choose providers based on who offers a fair premium—say, 1.2% or 3% of the true purchase price minus any bonuses—instead of dealing with this shady business where they artificially inflate the car's value by 45% just to pad their margins.

The acquisition value is usually pulled from CarMax, specifically using the VIN data.

If you walk in there with a valid receipt, they should be legally obligated to honor that figure.

Richard Moore53 said:What’s the best deal out there for car insurance if I also want to bundle in a single annual roadside assistance plan?

GEICO offers towing coverage for an unlimited number of incidents, though they cap individual events at $1167. It will run you about $17.