Welcome. Tell us more.
WHO says $5000 is TOO much?????????????
What kind of a business will it be??
For the RIGHT business 5000 might be a great business investment.
Are you looking for a partner??
What kind of business are you starting? Finding an investor who believes in you and your business is a great idea and may just be the way to go.
Hello, Luckiest, Burta,
1.A local bank said $5,000 is too much.
3. $5,000 is more then I need
4.I can make this business with $1,000 or I could use cash from my savings.
5.I would take on a partner.
This is the summery so far.
This plan was created for the company 'Resilient' that buys goods and products, then sells them for a profit. Resilient may sell hard assets or facilitate the sale of other assets for a fee. We have very little office equipment to maintain so overhead is low. The business model holds short-term or long-term assets and
waits for them to appreciate.
The Resilient team:
B of A Small Business Community:
1. Purchase, improve and resell assets.
2. Purchase, transport and resell lumber.
Secure the name at the county clerk's office.
Register on-line with the state.
Exchange tax ID numbers with the other parties involved.
Collect a fee for transportation of goods and products.
Move lumber and deliver creates
Leverage the balance sheet cash to invest in proprietary assets.
Use credit and the time cash is in the checking account wisely.
1. Move lumber from Home Depot to the shop to be cut.
2. Transport the finished shipping creates from the wood shop to location of the machine shop.
3. Deliver some tools sold on-line.
4. Purchase a high quality ETF with a low expense ratio.
It is a small market for me, but it's a 3 year contract.
All the locations involved are in a 15 mile diameter circle.
Hello Berta, I know what to do with the business income on the tax form, and I would also 1040-ES payments with the vouchers. I don't see any road blocks for my vision of this business. I won't have much operating cost because the office is just me in my living room, and I have a regular job and money in the bank and investments, so this business is just adding to my overall wealth portfolio, and it's fun !
This is the line on the IRS 1040 tax form where the income from 'Resilient' would go.
Business income or (loss). Attach Schedule C or C-EZ <<<<<< HERE
Here is Schedule C-EZ
SCHEDULE C-EZ <<<<<<< HERE and down there.
Department of the Treasury
Internal Revenue Service (99)
Net Profit From Business(Sole Proprietorship)▶
Partnerships, joint ventures, etc., generally must file Form 1065 or 1065-B.
▶Attach to Form 1040, 1040NR, or 1041.
▶See instructions on page 2.
OMB No. 1545-0074
Sequence No. 09A
Name of proprietor Social security number (SSN)
And I would also put the income on my State form.
The way I read your posts, is that you are way over your head and need to take a big step back. This will, of course, infuriate you, because it is not what you want to hear...you want lots of free simple quick solutions.
Three things. First, the failure rate for small business is about 95%. Second, No bank wants to loan to a small business under that reality...so they don't...so mostly people throw their savings, time, and family money away. Third, you need to spend a lot of time with the SBA, reading small business articles and books, avoiding success magazines, and developing at least one friend who is a small business owner. A monthly failure magazine would be 20 times the size of the success mag and nobody would buy it because it would make readers unhappy, if not sick to their stomachs.
Business wisdom often comes after paying the price of a lot of painful failures, if you are lucky enough to be able to fund all your failures and lost family relationships. Nobody will understand what you are going through, except another small business owner who has survived a lot of failures...and that is why you don't yet understand the situation you are in.
Sorry for the truth, it is not very nice.
Alright, understood, I'll write more more details of my Business Plan and post it here, I'll also plan on borrowing less money.
I don't think I'm in over my head, the business will be small enough to manage.