Im sure there’s someone in your town or nearby. And most conversations can happen over the phone and email. I only talk to my CPA 4 times a year now, and only see the office staff once a year. So just find one.
A lot can be learned from reading, but CPA’s can help you avoid the big mistakes.
Based on the OP, I think you’ll be ok based on the amount you prepaid. But reddit is just not the place.
The IRS standard mileage rate. Currently $0.65 per mile I think.
Cash, venmo, or Zelle, etc. You don’t have to but it could work.
You’re missing the point. Its psychology. $50 isn’t the price I’m saying you should charge. I’m saying people derive value from price. So if you charge $5 people think it’s worth that. If you charge $50 people will access it has a higher value.
If you normally charge $50 but they can get it for $35, now it sounds like a deal.
Price is how people determine value. Have a base cost of $50 and offer discounts, etc for your premium service. I also agree with getting bartenders. Offer a $5-10 referral fee to bartenders
My problem was the previous generation not getting out of the way.
My dad was a great guy but terrible business man. He always talked about succession, but never wanted to give up being in charge. He had several personal issues and eventually they drove the business to fall apart.
You should 100% add non-disclosure language to your employment contracts if you don’t already.
My contracts spell out what is private info, and that private info must be kept private.
Depends on what field you’re in.
I’m in a professional services/advisory business and I am the brand. People want to work with a person in my industry. I benefit from showing my face. Your biz may not benefit. What’s your industry?
I just went through getting a line of credit from my biz. I spoke with Chase, a local credit union I’ve banked with for years, and local midsized business focused bank.
I got terms including fees and rates from Chase, then talked to the 2 local options. I explained I wanted to work with them, what I liked about Chase’s offer, and where I wanted it to be better.
If you’re clear and fair, lenders will be happy to talk terms to try to earn the business. In the end I got a rate 4.5% lower than Chase’s lowest offer, and fees waived for 1 year.
I like this tiered fixed price approach. I don’t like the .5% of average because it’s too unclear.
You might say the average salary is X, and customer says Y. I think it would create something for them to argue with you about right out of the chute.
Not an accountant but giving away free promotional items sounds like advertising to me.
So I’d have an expense in my p&l called PROMOS and add to that account the per unit COGS for each item given away, plus the cost of shipping. Then deduct that same per unit COGS from your inventory account.
That way you’re keeping track of the economic cost of those promos, and properly keeping track of your inventory.
I understand this. As we saved, my threshold for where I felt comfortable rose and rose. You will get used to it though. You’ll need to invest it and grow it over time.
In my area, yes. The mark up on frames can be very high. Your biggest risk might be a gradual shift to buying online. But some will always prefer to buy in person and that’s the only way to get your eyes checked.
He owned a business and so do I.
“You can’t out earn stupid” Dave Ramsey.
You can have a great income and be broke if you don’t know how to save. I think whether the biz is successful or not has nothing to do with you being able to save. My dad made north of $160k for years, but never saved a penny and is broke now.
I learned from that and won’t repeat it.
A lower bill lol
You’ll have to figure out your own pricing since I don’t do photography.
But in terms of the “model” here’s what physchology would say.
Offer an entry level option, like a by-the-hour, a base package for a fixed price (this will be your best seller so price ot so you make good margins), and a premium package at a much higher price than the base package.
The base option will appeal to people that want a set price and compared to the hourly should look like good value for money. Having the premium option is mostly just to make the base option seem cheaper by comparison.
EG. $100 per hour, $495 for the base package, or $1225 for the premium package.