Business Discussions

  What are you doing to acknowlege this important day, one that's celebrated around the globe?  Share your ideas and stories, and you'll inspire others in our community to do the same! 

Good Afternoon, I just recently started a S corporation based in NYC on October 2017. I am going through the software to file the S corporation form 1120s. The S corporation has not made any income, but I have opened a seperate business account and deposited cash. Additionally I purchased goods with that accoutn but has not been sold yet. The cost of good is very low which is only 200 dollar. Would that be included in part of the total asset? Does the total asset include all the cash deposit in the business checking account? Additionally would this be a short tax year from october 2017 to december 2017? Does the Section 263A costs need to be calculated?

Real-life sisters Tara and Crystal Luxmore are "beer sommeliers" who have brewed up a business devoted to tasting, talking, and writing about the sudsy stuff - but they didn't do it alone. The sisters credit networking with like-minded women entrepreneurs in a variety of sectors for their remarkable success in a largely male-dominated industry.        How important is networking for your business development? Does it makes sense for women in business to seek out each other's support, even though they may not work in the same industry?

Name: Thea Villaseñor Business: Thea's Vintage Living Location: Portland, Oregon Launched: 2006   For Thea Villaseñor, “antiques seller” may be an accurate job description, but the real mission behind her business is finding a new home for beloved objects. The daughter of two antique dealers, Thea has been treasure hunting since she was a child. Thea opened her antique store,Thea’s Vintage Living, in 2006, before smartphones and online shopping were the norm. The retail world has changed dramatically in the last decade, and, recently, Thea decided to change her business model. Instead of running a brick-and-mortar antique retail business, she would shift her focus to estate-sales services. We spoke with Thea at the very beginning of her one-year business transition. We will check in with her twice more in the coming year as she transitions. Thea, tell me how you got into the vintage retail business?   I have loved antiques since I was a child. My parents were antique dealer

I've worked in restaurants, food service, retail, and catering establishments where there are lots of moving parts and huge teams. There are times when I have a task that needs doing but I can only be in so many places at once. I trust my leads, but I often wished there was a better way to set tasks and communicate with everyone more efficiently than a radio (no written instructions) or checklist. So over the last month I've been fleshing out an idea for an app that could help with quick task and team management.    But, before I even start with architecture, I have to stop and think about the ramifications of encouraging workers to be on their phones if I were to put out an app.  I'm sure everyone who runs operations in a service environment has come across this problem. Thinking back, I used texts with some teams and never had a problem, but other times it seemed I'd given them an excuse to not pay attention when they're on the floor.    Have you seen an

I am just beginning to clean a medical office. They will be giving me a 1099 at the end of the year.. I need help knowing what I can deduct; ie: food, gas, supplies! I also need to know if I should pay taxes quarterly!! This is all so new .. HELP ME, PLEASE!!!

  Welcome! We’re so happy to see you here. You’ve just discovered the part of the QuickBooks Community where you can always find a wealth of resources, information and tips related to building and growing your own business.   We know getting paid is a top concern for most of us – and for good reason. What can be done right now to ensure you get paid on-time, every time, from now until forever?   Here are three strategies to consider.   1. Optimize your invoices Your invoice is a lot more than just a reminder about payment due. Every invoice you send is an opportunity to positively engage with your customers and reinforce your brand as friendly, professional and reliable. A personalized, well-designed invoice helps you strengthen client relationships – and, as a result, may even keep your business top of mind when a customer needs products or services in the future.   We’ve got three strategies for super-charging your invoice   2. Simplify your systems I

Hi,I was planning to start a Website for Engineering Design Software.People would visit my site and purchase the software straight away by clicking on its pic. I have the reseller ship of this software. Its one of the popular Design Softwares.My company is already registered. I intend to use SEO / PPC / CPM to bolster my campaign along with B2B / AL / BL activities.Any suggestions?

I frequent a very small cafe that orders coffee from a well-known local speciality roaster (whose name shall be stricken from the record). About 2 months ago, the shop started selling 12oz retail bags to customers, ordering about 10 - 15 bags a week.   Today, we were looking at the roast dates on bags and I was shocked - the"new" shipment they received last week was already a month old.  It turns out they've consistently been given old coffee since the beginning.   A month old isn't necessarily "bad," it's totally drinkable. Many people wouldn't care. But it's not ideal - fresh coffee is at its peak for about  2 ~ 3 weeks. I've worked in the industry for +10 years and that was a huge red flag. It feels like they've been bamboozled a bit.    If the shop is paying top dollar for coffee beans, they should be getting a top-shelf product.   The owner and I talked for a bit and agreed that there should be a change. But the owner is having a hard t

It’s Employee Recognition Day! Dr. Bob Nelson, author of 1001 Ways to Reward Employees, created the day in 1994, so it may surprise you to know that he now thinks it’s a “little silly.” The idea behind the day, he said, is to not only recognize employees one day a year, but to make this the day you have a conversation about recognizing employees all year long.   How important is recognizing employees? It affects employee retention and your bottom line. A survey of full-time employees showed that 50% considered employee recognition as a reason to stay with a company, while another found that 46% of employees surveyed considered recognition in the workplace very important, but only 26% were very satisfied with the level of recognition they received.   Employee recognition not only gives credit where credit is due, it also helps keep costs down - decreasing cost-to-hire and reducing time spent on interviewing, hiring and onboarding a new employee. Happy employees also increase

  Name: Julie Ball QB Community member name: mrsjulieball Business: Sparkle Hustle Grow Location: North Carolina Launched: 2016 Julie Ball is the owner and “Chief Sparkler” of a booming subscription box company, Sparkle Hustle Grow. She is dedicated to inspiring women entrepreneurs to grow not just in their businesses, but in their personal lives, too. We spoke with Julie about how she got started, why she is so passionate about supporting her “tribe” and what’s next for her outside the box. Julie, what did you do for work before you started your own business? The long story short is I spent ten years in corporate America, most recently as a digital sales manager in radio. When I found I was pregnant, I had a mindset shift that I wanted to start my own business. I have a masters in Internet marketing, so I can work anywhere I have an internet connection. I launched a business in 2011 called Grow Web Marketing, a web design and development firm. Fast forward six years, and my bu

  If there was a more efficent way to accomplish your job would you use it?   If you, like most people answered YES, you be surprised to learn that according to a PwC study, on average, workers spend around 40% of their time managing non-business critical documents. Similarly, the IDC estimates that employees spend about 20% of their day looking for paper-based documents, and half of the time, their search ends in failure. (source) Simply documenting your companies standard operating procedures, also known as workflow, will help you and your staff become more efficient. What is Workflow:Workflow is the process used by a company to complete the recurring activities unique to their business.  These activities are usually divided into steps which are comprised of:TasksEventsInteractionsApprovalsDeliverable When conducted in a sequential workflow, a repeatable process is designed to ensure the consistency of the pro

I would like to grow my businesse

Quick -- do you know what you were doing on Sunday February 26th, 2017? Odds are pretty good that one year ago, you were cozied up on a couch or in a comfy chair watching the 89th Academy Awards. Nearly 33 million folks tuned in to watch last year’s Oscars, and this year, on Sunday, March 4th, multiple millions will cheer as their favorite movies and celebrities are honored in the 90th glittery, glitzy celebration. With the big event just days away, we wanted to take a moment to shift the spotlight away from Meryl, Tom, Frances and all the other highly recognizable red carpet celebs. Instead, let’s applaud some of the lesser known, if not completely unknown, folks who work tirelessly behind the scenes to help make the famous folks, well, famous.   Why? Because most of these people – the ones whose names appear in the credits in a tiny font, usually after the lights have gone up and the only thing left in the theater is kernels of stale popcorn – are folks who work for themse

Hey everyone!!    I run a Crossfit Gym in Arizona and we have approx. 10 coaches that I would like to set up to work in exchange for a gym membership. I understand that they need to declare the gym membership as income I am just not sure how exactly to set them up, 1099(if they meet the requirements) or as W-2? I am not trying to be cheap but if I don't have to pay payroll taxes then that is plus. They are currently set up as W-2. Please help!!! 

For some vendors that require 1099's, we paid a few of the invoices via credit card and others via check.   Would I only put the total of the checks paid on the 1099 form since we are not supposed to report credit card payments? This includes LLC vendors and also Lawyer payments.  Thanks!

Name: Gregg Miele Business: Heart & Hustle Gym Founded: 2014 Personal trainer Gregg Miele knows what it means to hustle. When the New York-native landed a job as a trainer at a high-profile Manhattan gym, he wasn’t fazed by his four-hour round-trip commute, even when those long days were followed by night classes in science and nutrition at a community college. Gregg says he was “young and hungry” – and determined to build his name as a training pro. His hustle paid off when a renowned musician tapped Gregg as his trainer for his world tour. During that time, Gregg discovered he loved being his own boss and creating intensive, top-notch training and nutrition programs for the musician and his entire crew. But when the tour ended, Gregg returned home to an empty client roster. He moved into his grandmother’s house and considered his options – and his goals.   Once they became clear, Gregg, true to form, began to hustle. Gregg, how did you go from being clientless in New

Imagine you could choose any mentor for yourself - who would it be, and why? What would you hope to learn from that relationship? (Trust us, we're asking for a good reason!)

I'm not sure where to get this advice, but I thought I'd start here.  I have hesitated to hire someone to help in my small cloud-based bookkeeping business.  It is essential for growth and my own sanity, but I am really stuck knowing what to pay someone who then also sees what my clients pay me.    It's just a unique arrangment.  If they are helping by entering transactions and reconciling accoutns, they will have intimate knowledge what that client is paying me for him/her to do the work.  

Good eve! One of my most successful professional/entrepreneurial connections suggests to have ten (10) 1-2 min vids on your website & tied to your social media ... .. one vid per FAQ = frequently asked Q. I have FIVE of mine recorded & the next five will be in March. Paying forward the suggestion & would be glad to share 1 or 2 here on the forum if / when anyone offers thoughtful feedback.

Here in the CBus metro area ( #12 in the nation for new startups, last I heard!) , the # of new coworking facilities is going to the moon!! In my reasoned view, having been a member of one of these for just over a year, I heartily suggest this as an ideal next step if you are presently a 'coffee shop' entrepreneur ( Panera Bread peeps, Starbucks denizens unite! ) and/or working at home, yet you are social enough --- esp I style personalities -- to want to meet new people & collaborate far more often :) Anyone else out there a member of a coworking facility? CBus? Or .... ?

   

  Name: Scott Wolfe Jr. QuickBooks Community member name: scottwolfe Business: zlien Location: New Orleans, LA headquarters; Cairo, Egypt; Austin, TX Launched: 2007   Originally from New Orleans, Scott Wolfe, Jr. hails from a family of entrepreneurs. His plan was to become a lawyer and help out his family’s retail business, but in 2005, Hurricane Katrina blew things in a very different direction.   The same year the massive storm hit, Scott opened a firm focused on construction law. He soon became troubled by the flood of contractors coming to him for help with getting paid. He couldn’t do much for them legally, so he took his experience building software for the family business and created a product helping with intricacies of getting paid in the construction business. Today, that software has become the company zlien, securing $1.78 billion in payments for its customers every month.   We spoke with Scott about how he’s continually adapted his business goals based

    As the Winter Olympics wind down, we’ve witnessed the teary smiles of medal winners -- and we’ve seen plenty of disappointed expressions from those who didn’t make it to the podium. Not everyone can be a winner, right? But that doesn’t mean we stop trying!   Entrepreneurs are known for looking the odds square in the face and giving it their best no matter what. Sometimes that effort pays off with big victories. Other times, it’s a bumpy ride to defeat-ville. Either way there are lessons to be learned.   What has success or failure in business taught you? And which outcome have you learned more from?

For Sonja Robinson and Meeka Davis, co-owners of One of a Kind Hats, the key to small business success is finding the "nerves, guts and grit" to follow your own star. Here's how this powerhouse mother-daughter duo have built a small empire as "milliners to the stars."      Have you ever trusted your gut and pursued something despite the naysayers? Tell us about it!