2 posts shown.
can someone please walk me through how you actually calculate pricing because everything I've been digging up on Google is just useless filler that doesn't tell me anything practical... or am I supposed to just hire some high-priced consultant to do it for me? I'm planning on opening my own fast food joint
Should I go with a Sole Proprietorship or an LLC? I've been reading a million different things online, and honestly, I've talked to ten people in the last two days and they all give me totally different advice.
So here's the deal—setting up a sole proprietorship seems way cheaper, easier to manage, the bookkeeping is basically a breeze, and if things tank, you can just walk away without much fuss... but apparently, the IRS can absolutely screw you over. Like, they decide your revenue wasn't actually what you claimed and then hit you with these massive tax bills out of nowhere, plus you're personally on the hook for everything with your own assets and stuff. On the flip side, starting an LLC or a corporation sounds like a total headache, way more paperwork, more red tape, and if the business goes belly up, you’re looking at bankruptcy courts and legal fees which are a nightmare... but at least you aren't personally liable, you only lose what's in the $6667 business capital and you can just move on to the next venture... does any of this actually hold water or is it all just noise? If anyone here has actually lived through this or gotten burned by one or the other, please, I need some real talk...