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Posts by Tyler Allen14

5 posts shown.

Starting a small business in Business, Accounting & Taxes ·
I’ve spent years working retail, so getting sucked into the grind isn't anything new to me.🤣 As for professionalism, I’d have to be delusional not to take this seriously—my entire livelihood depends on it. Plus, since I'm running my own business now, the math is simple: more work equals more profit. Thanks to everyone for the input and the help. This Monday, I’m heading over to the local Chamber of Commerce to figure out the logistics, and then I'll sit down with my accountant for some consultations. We'll see how it all unfolds once the dust settles.🤷 Thanks again, best regards.😁😁😁
Starting a small business in Business, Accounting & Taxes ·
To start, I was thinking about focusing on stairwells, hallways, and other areas where heavy machinery isn't really necessary. I have a new vacuum that works wonders, though it's strictly for dry use. It’s not industrial grade, but for getting things moving 🤷it should get the job done.
I don't want to charge too much, but I can't work for free either... how do you actually set a price?🤷On various cleaning service websites, they list rates $10per apartment for stairwell cleaning, but I can't tell if those include sales tax or not. How do I structure my pricing so everyone walks away happy? My goal isn't a quick buck; I just want to make enough so that after all my expenses are covered, I’m left with a decent paycheck of about $833, at least initially. In this economy, finding a job and still pulling a real wage is a feat worthy of Copperfield.😢😢
Starting a small business in Business, Accounting & Taxes ·
Thanks for the feedback. To clarify, I’m not looking to open shop in downtown Chicago, but rather in one of the surrounding suburbs within the metropolitan area. From what I’ve gathered, there's plenty of demand out there, but almost no legitimate repair services—most people just hire someone under the table. My plan isn't to drop a fortune on heavy machinery right away; I intend to rely solely on my own hands and tools for now. Finances are tight since I've been unemployed for over seven months, and my husband is relying on sporadic disability checks every few months. How did you all handle your initial marketing? I was thinking about printing flyers and posting them on apartment buildings, local bars, etc. Does it even make sense to jump into this if I don't want to drown in debt? Please, share your experiences so I don't make any costly mistakes. Thanks a million for the answers and for bearing with me!
Starting a small business in Business, Accounting & Taxes ·
I didn't say we were talking about a small local business or a cleaning service...
Starting a small business in Business, Accounting & Taxes ·
Apologies if this has already been asked—I think it was back in 2010, but I’m sure the rules have shifted significantly since then. Since I’ve been on unemployment for over six months, I qualify for a self-employment incentive. My caseworker suggested I start a small business using the simplified tax method.
My questions are as follows:
1. What are the startup costs for launching a sole proprietorship?
2. Does this type of business require paying local tourism district fees?
3. I live with my in-laws and don't own any property in my own name. Since this is a field-based business, am I required to own real estate to qualify?
4. How can I check if the business name I want is already taken?
5. Aside from income tax and social security, what are my monthly overhead expenses?
Please get back to me as soon as possible. Thanks in advance!😉