Posts by Daniel Castillo12

Timothy Morgan38 said:They’re completely losing it... they expect interest to be "distributed" among employees... thank God you simplified things for the Department of Treasury idiots

because interest isn't government revenue—it belongs to the employee...

I’ve dealt with this firsthand...
$3.00 I had to split it up among 14 different employees...
so I ended up calculating 0.65 for eleven of them, and 0.64 for the other three,,,,
based on the specific MO2 levels...🤷 it was a total headache.

Timothy Morgan38 said:I’ve been there a few times myself... I wouldn't say I lost my cool, but I definitely felt the burn when I was drowning in unpaid work... just a massive backlog of tasks that never actually turned into a paycheck. Now, I only manage the inventory for one client, and honestly, he's a dream to work with. He keeps everything organized and doesn't cause any headaches. It’s pretty straightforward because he doesn't sit on stock—everything he pulls from the warehouse gets installed immediately, like a local custom cabinet maker...

A little story from back in the day about getting paid for a job... (if you can't be bothered to read, just skip ahead...)

How do I explain to this guy that an invoice with 200 line items isn't just "one single bill"? It’s one bill plus a massive, hour-long calculation task... assuming at least 70% of the items are recurring and only 30% are new entries I actually have to type in manually... and I'm dealing with 30 to 40 of these monsters every month. Then there's the rest of it—operating expenses, daily cash flow, payroll, sales tax, all the corporate filings... Just to handle his specific business, I’d practically need to hire another full-time employee just to stay on top of the paperwork... which costs money. Real money. To cover all of this, he should be looking at a minimum of $7,000 plus tax per month for my services...

When I finally dropped the number on him, the guy nearly fainted. I should probably mention that I’d been grinding away at this for six months for a measly $3,000 total—including tax—just because he came to me through a "friend of a friend"... So, I had to get blunt with him. I had to snap him out of it. I told him straight up that he needs to clear out his messy inventory system and actually hire a dedicated employee to manage it... It's the only way to do this right...

He hired an assistant for $4,000 gross to handle his bookkeeping and manage warehouse inventory... after just one week, she quit on him... so he goes out and hires a second person at $4,500 gross—talk about a massive raise... then, two weeks later, she’s already demanding at least $6,000... Net income... So, they have to pay overtime if she wants to stay on... then he comes stomping into my office, absolutely livid and red-faced. He starts ranting about how he’s going to fire her immediately, how he's going to call the Department of Labor, blah blah blah... just puffing out his chest like he's some big shot, claiming he could probably find ten other girls to do the job for that same salary, blah blah blah...

I told him he needs to be upfront when interviewing new hires. Honestly? Just lay it all out on the table—tell them exactly what the grind looks like and what the job actually entails. He should mention that nobody leaves the office without putting in at least two or three hours of overtime every single day. Or, better yet, just let this current employee stay and pay her the $6,000 she’s asking for... because there is zero chance he'll find someone willing to take less than that in cash. When he went to file the next round of paperwork, he ended up with a contract amendment in his hand...😂😂😂

Today that girl started working for him, pulling in $12,000 gross... plus he’s got another "warehouse assistant" helping out too... and honestly, she’s so sharp and knows her stuff that she'll probably be running the entire accounting department solo before long...

And if we’re being completely honest here... I’m six months behind schedule... $1000 Let’s talk about a radio that retails for $10,000... Once you strip away the sales tax and the corporate income tax, what we’re actually left with is... $667 Making money without even lifting a finger... $0.33 Between the overhead... once you factor in toner, electricity, paper, and the gas burned just driving around to collect and deliver all this documentation, I’m practically broke... $567 He was talking about that situation where he ended up having to cough up $10,000 out of pocket at the very end...

Honestly, if someone has the nerve to call me cheap... I might just lose it. Seriously...😂

Nice...
Just hand him a blank template and tell him to run his own 200-item cost analysis himself, since he's the only one who knows if he wants it based on Markup or Cost Plus. Walk him through the process using a physical worksheet, pen and paper, and a calculator.
It worked once for me. Once the owner actually saw the sheer amount of work required to calculate everything—not to mention the production prep and inventory receiving that comes before it—he ended up giving me a raise. Teaching the boss the ropes was worth it 🙂 with the caveat that: he actually had some literacy.

Henry Edwards33 said:I seriously messed up and tried managing inventory twice... Never again, ever. It absolutely drained me, but I guess there's a lesson in everything—even if this one was particularly expensive. Hopefully, I've learned enough to make sure I don't fall into that trap a third time. 😂

Give him a break...
I work for a manufacturing and retail firm... what am I supposed to do?
It took me an entire year just to get the system running (before me, things were handled pretty "loosely"), then another year spent explaining exactly what I needed to the software developers, and even now I’m still struggling with all sorts of nonsense regarding production cost accounting. But honestly... believe me, it’s actually quite interesting😍
provided that... everything in production and the warehouses runs exactly according to my specifications 🙂)

Timothy Morgan38 said:Their business... I wouldn't stake my reputation on it for all the money in the world😉

And that's why I don't deal with farmers.

Timothy Morgan38 said:You clearly haven't met anyone from my neck of the woods yet😂😂😂

There is zero chance I'm ever going to be responsible for someone else's physical goods or property... just no way... there isn't that kind of money floating around...

😂 As far as that goes, every part of the country is pretty much the same, don't sweat it.
But I was thinking strictly about setting up the production accounting...
I'm not responsible for any shortages or surpluses either 🤷
though... there's always a chance the inventory count won't balance out.👍

Timothy Morgan38 said:Their business... I wouldn't stake my reputation on it for all the money in the world😉

It isn't exactly a disaster..
however, there are certainly gaps in the curriculum that you simply can't learn in a classroom; you have to figure them out through trial and error, which inevitably leads to a different perspective than what the regulators expect..
I've visited several training centers.. they all charge roughly $833 (for context, accounting seminars usually run about $360-$400). Believe me.. it's just taking money from the naive.
They bring in university professors who basically just read aloud from their own textbooks..

Daniel Castillo12, have you heard anything regarding production?

Henry Edwards33 said:Who actually went after Vanguard?
Even if someone did, they can hold their own just fine 😛

Don't worry, I fixed the post. Daniel Castillo12 and I already hashed everything out. We even have a master plan for world domination in the works 🥳

dante, did you actually read this? 🙂
nobody can stop us now 😂

silverbison293 said:and look at her, acting all worried now????

we were just talking a bit—nothing serious—but you two immediately tucked your tails between your legs...😉

Hmm... tucked tails? Are you sure you aren't getting your wires crossed, silverbison293? Who exactly is the one with their tail between their legs?
Maybe try revisiting your elementary school science class.
Besides, you're the only one shouting; nobody else has even made a sound.

Actually... I would have preferred a different meaning for the opening post 😉

And one more thing... VTi, did we even go after you? To be honest... not a single word was said... right?

Henry Edwards33 said:We’re going to end up underwater, and everyone will just shrug and say, "Well, you got exactly what you asked for." 😛

It’s honestly a bit depressing to realize there are people out there even more full of themselves than I am. 😂

Vanguard, don't be jealous. 😘

You didn't do anything wrong. It's just that you're new here, and you're a woman—so of course they’re going to come for you. Honestly, don't let it get to you; some people just don't know how to act any other way. 😉

We’ve got all kinds of experts here, apparently. 😉
thanks, Henry

Hey, hey now... please don't go fighting on my account.
Vanguard, don't be jealous; remember how nicely we were chatting yesterday over accounting? At least they didn't delete us.
Henry Edwards33... I wish I could say thank you, really, but my pride won't let me. So... fine, if you insist, just "blue" whatever it is you're offering.😂 Thanks.

Anyway, guys... why have you all "targeted" me (to quote someone🙂...
Did I really make such a massive blunder? Come on, can I get an apology? I'm new here and I did warn you—show some compassion.
Or don't... if you're all just one big jerk!🙂)

silverbison293 said:that modica guy could have totally wrecked your previous post 😍

I suppose a woman has much more intelligent things to occupy her time!
(grabbing a coffee, for instance, like at 🙂 )

Henry Edwards33 said:It’s actually a solid post; I'm not going to mess with it.🙂

Picajzlo 😛

👍👍👍
hehe...

Henry Edwards33 said:I'm only bringing this up because some people actually rely on this function, and I don't want anyone thinking I'm trying to act like something I'm not. 🙄 🤣

🙂

So, why does this matter so much to some people here? 😕
Fine then... I didn't realize... I'm new here.
Alright, fine, I'll go learn the hierarchy then. 😉

Henry Edwards33 said:😘

Easy for you to say. 😍

Yeah, well... I’m just the moderator. 😢 The admins have purple usernames. 🤣

You really think they give a damn about what the experts have to say?
It would be nice to think they actually give a damn, but if you ask me, they couldn't care less. 😬

It honestly scares me how things work in this country. It feels like the burden of proof has completely flipped on its head. They don’t feel the need to prove you were using a company vehicle for personal errands; instead, they just expect you to prove that you weren't. It’s a backwards way to run a system. 🙄

Of course, I haven't heard anyone say otherwise. Honestly, that’s exactly what helps you prove that every single mile was driven for business purposes. 😉

Whatever.. I don't really care..☕

I'm afraid the government operates a bit differently here in the States. They don't need to prove you used the car for personal use; you have to prove that you didn't. 🙄

Spot on... it's backwards! You're guilty until you prove your innocence.

Of course, I haven't heard anyone say it isn't necessary. That's exactly what helps you prove that all those miles were driven for business purposes. 😉

I deal with unruly owners..🙄 but I've done my part by handing out the vehicle logs and warning them about record-keeping, hasn't that?
The 70:30 split works fine for me without needing a detailed mileage log. 🤷

There, I finally got the post formatted correctly!!

Well...
It isn't strictly personal use anymore... though you're thinking along the right lines. Given how things have been heading lately, I wouldn't be surprised if they go that route...

But then they'd actually have to prove that 30% of vehicle usage was *truly* for private errands... so honestly, stop giving them ideas. You might just hand a government official a perfect way to pick the public's pockets.

I’ve moved you to my own list just to save myself the administrative headache. 🙂
I really hope none of them are reading this, though they probably should—it would be useful for them to hear what actual professionals think about these practices in practice.
Anyway, are people still required to maintain mileage logs for personal vehicles? Isn't that exactly what justifies that 30% figure? I handed those logbooks out to my staff years ago, but it seems like nobody even touches them anymore.
Seriously though... is it actually mandatory to keep those records if we're splitting costs at a 30:70 ratio?

Timothy Morgan38 said:We’re really just dancing around the same issue here...😉 about how it wouldn't work...

Because let's be real—if some sharp-eyed IRS auditor decides to look closely, they could easily flag that as a disguised dividend. Then you're right back where you started...

Even that bookkeeping shuffle could be viewed as a hidden payout if the auditor is feeling particularly spiteful. At least having a formal resolution stating you're deferring your payout to improve the company's cash flow provides a tiny bit of cover...

plus, we're still calculating based on the crisis rates, so it doesn't change much—unless we start trying to skirt the system by capping everything at $5,999, which would obviously look incredibly suspicious anyway..

Henry Edwards33 said:Even if the Federal Register is technically "on time," I've seen plenty of instances where they still lag behind on actual publication. 🤣

Milina, it's one thing to live and work here in beautiful America 😍

so I can't just sit there glued to the NYT waiting for them to announce some sudden tax hikes.
though, based on how much time I've spent here today, you might think I actually could.🙂)

Raymond Martinez10 said:Another option? If you need the cash right now, just issue an advance for business expenses. Then, once November 1st hits, pay out the actual dividends or a dividend advance—by then, that emergency tax won't even be an issue. 😕

provided they don't decide to slap a tax on profit distributions before then.