Being a business owner never ends

Have you ever noticed that you never really take a day off from your business?

I was attending my parents 50th Anniversary today and my Sisters managed to get about 50 people to show up from all over the country to help celebrate the event. They even found the couple that stood up for my parents at the wedding 50 years ago....too bad they divorced a year later. At one point, my Mother spotted her old roommate whom she hadn't spoken to all these years.....they acted like nothing ever changed and immediately started discussing the old times and how my Dad couldn't dance to save his life.

During this event, as I mingled about, I ended up being asked for business cards. Six people scheduled home cleanings within 2 weeks and the place holding the event booked tile cleaning for August 1st. as part of a remodel.

To top it all off, I now have an CPA for $50 per month to go over the books and clean up my shoddy accounting as well as forecast taxes, etc. She was the daughter of one of my childhood neighbors and was looking for some work since deciding to quit to raise her child. Great gal, was the Senior Accountant for a large local corporation....I felt like an idiot trying to answer all her questions about my business. I certainly could use the help.

Am I the only one that stays in business-mode 24/7? I really didn't intend for it happen, but it always just ends up that way.

You're not the only one.............seems after all said and done I never actually have a day off either. Usually it's stocking, paperwork, or maintaining the equipment.

Wow seven jobs. I may start attending family functions and not just my familys

Same here, if everything is done with the business I'm still not done, my family demands me to entertain them or take them out to eat or sightseeing

By the way Rob, could you ask her if she does payroll and payroll taxes ? If she does, could you ask her how much she charges for 1 full time employee, 2 paychecks a month ? Quick books payroll is starting to get expensive. They wanted $ 500 / year originally and when I told them I'm quitting they lowered it down to $ 350, I think I might be able to get someone to do it for me close to that price ?

I know how you feel DP, My wife just told me to get of the computer

dp1 wrote:By the way Rob, could you ask her if she does payroll and payroll taxes ? If she does, could you ask her how much she charges for 1 full time employee, 2 paychecks a month ? Quick books payroll is starting to get expensive. They wanted $ 500 / year originally and when I told them I'm quitting they lowered it down to $ 350, I think I might be able to get someone to do it for me close to that price ?

Sure, I'll catch up her later this week.

Interesting gal, she has a romance novel going through editing with a large publishing house as we speak. I hope she still finds the time to help me or at least train me up to become a better manager.

Mo wrote:Wow seven jobs. I may start attending family functions and not just my familys

I drove away saying the same things. I started to wonder if I did something wrong by talking business at my parent's big event, but it just sort of happened.

What you do for a living is just a basic small talk subject so Im sure it just came up naturally

Reading this tells me how fortunate I am...My wife was a secretary for her dads construction company for 17 years...she did it all! payroll for 15/20 employees, audits, taxes, fed and government BS etc....she already has me set up for everything....well, her! but she doesnt know it yet.

You are very lucky Devon, that was the way my family operated their business as well. My problem was that I never married the right person...truth is, strippers are poor accountants.

Who knew

milspec6 wrote:You are very lucky Devon, that was the way my family operated their business as well.  My problem was that I never married the right person...truth is, strippers are poor accountants.

Who knew

Strippers have good qualities too

you ever notice that really profitable companies some how claim a loss almost every year

yet the owners are making a killing? funny how that works but thats the type of thing a good accountant can do for you.

One of the advantages of owning your own biz.

ACpower1 wrote:you ever notice that really profitable companies some how claim a loss almost every year

yet the owners are making a killing?     funny how that works but thats the type of thing a good accountant can do for you.  

Until you apply for a mortgage and you can't show any income, However you can add back depreciation to income.

That can be a problem, Mo and the reason I had to come up with 20% down to get a "no doc" loan.

owner can show income based on a salary paid by the LLC

but company reports a loss, thats the advantage of being an LLC

Mo...do it right and you wont need a bank. I think too many people fall subject to the "bank" mentality....im not judging at all...I remember trying to get my first credit card and saying I have no credit.....they said you need credit to get credit....I did the deer in headlights look....It was then that I realized the system would own most.

Do you realize your Social Security number was designed to help you and it hurts you more than it ever will help you?

Strippers make bank!....wait...I have no idea how much they make.

Davey Cracker wrote:That can be a problem, Mo and the reason I had to come up with 20% down to get a "no doc" loan.

Thae's not bad for a No Doc loan right?

Ever notice how banks are built like the Vatican or something, huge pillars, lots of granite, gold trim. Ever see one look like a sandwich shop?

Ever wonder where all the money comes from to build such a building? I never consider the bank a friend, more like visiting a Mafia Don.

ACpower1 wrote:owner can show income based on a salary paid by the LLC

but company reports a loss,    thats the advantage of being an LLC

I've meaning to d that for about 5 years now.

You know what weird? I was depositing some money in my nieces account in Cali at Chase bank and they didn't accept cash So I get a cashiers check and they put it on hold WTF.

Chase is EVIL, they are the worst bank ever, their employee harassed me into getting a business credit card and when I finally give in, with my 780 credit score, they denied me, I was like WTF ?? I've been with Amex for many years and my open business card don't have a pre set spending limit and last I checked I was going to use it for down payment of a car, they said that they tried to put in 50 k and it was still approved, plus they will give me 6 months interest free if I do large purchases.
F@$# Chase !!!!
They begged me not to close my account and told me that they will investigate, I told them I never beg for credit line ever, and told them to get lost !!!

I've been with Chase since they were Great Western Savings......and never had any problems.

I have always been an AMEX fan since my military days. I held an Officer billet for the last 7 years of my contract and was provided an AMEX Black Government card.....no limits of any kind.

I could have walked up and authorized the purchase of a battle ship with that sucker and every vendor just fawned over that card.

I'm just a gold member now, but it works really well for me and gets paid off each month.

If you were looking for a card, I would probably get a Hyatt Visa or some other major hotel chain like that. That way, you get travel points for hotel stays and since you were buying the supplies anyway, you might as well take a free trip at the end of the year for your efforts.

I know of at least one cleaner that takes his whole family down to Cancun every year off those travel points.