TJ's Small Buzinezzzzzzzzzzzzzzz

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if you want to keep the other thread on topic, fuck it, let's talk here. i don't want to go into the 'business to business' aspect, but in the questions i asked i was actually being serious. no need to keep it private if you ask me :thumbsup:


anyway, to kick things off, lets start off with you saying that "you are going to be hit hard by Obama's tax plan"


so, to break this down, we must conclude that your small business generates over $250,000 (well over, if you're going to be hit hard) in NET income, not GROSS. Meaning, per fiscal, you are pocketing that amount.

[cigar omar]

EDIT: the other shit was huge.


Dude actually does own a legitimate business.

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damn, an international real estate and property service agency

[TJ Hooker]

To even ask about a fiscal year for an accounting services is foolish on your part, i don't own a restaurant. We barely have to budget, as most of our things are done on paper or the computer, and most of the left over inventory goes to me, or i'll give bonuses to some employees.  After the EOM of this year, I am using some of the money to hire a new attorney for the company. Our company makes well over 250 k gross, but the first couple of months were rough as we broke even, but picked up more as soon as gas prices dropped (Imagine that). As for the tax bracket we are currently in, I don't need to justify it to you to prove i'm "real"  but its in the lower double digits and ill leave it at that.

To combat obama's plan though, there have been talks of a possible merger with the company in Hercules. This may not need to happen though as Obama has been shying away from it, but even then, I am not too worried.

510 Bay

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Hey props to you. I was asking seriously.

Fiscal year = the 12 months needed to report financials. I'm sure you do report your financials. You obviously don't report costs, etc.

And by lower double digits, you mean the 33 and 35 percent brackets  (the only brackets being affected)? Those brackets are relatively high.

[TJ Hooker]

Hey props to you. I was asking seriously.

Fiscal year = the 12 months needed to report financials. I'm sure you do report your financials. You obviously don't report costs, etc.

And by lower double digits, you mean the 33 and 35 percent brackets  (the only brackets being affected)? Those brackets are relatively high.

I am aware of a Fiscal year , i went to business school for 2 years and have my BA (which is why i don't do the actual accounting) in business communications.

Impressive that you know the tax bracket without me having to discuss, I applaud you for that. If we completed that merger with the company in Hercules however, while our tax bracket would stay the same, we would make the same amount of money with both companies combined, with just one tax bracket though. I Have been in talks with the CEO and a couple of tax attorneys, and we are going to give it until march 3rd (the start of BOM inventory) and see if it is affecting us. We decided to give it to 2 months, because with the economy we cannot take risks.

The financials are handled on usually the 27th of every month, and at the other company on the 28th, and we get the VP of communications (guys a genious)  and tax attorney to give a basic breakdown, of annual gain, projected gross income, net etc. Salaries are also yearly plus commission based, so the more customers, the higher gain at the fiscal year, the more that is given at the end as bonuses, and more importantly, into my pocket.

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Ah see, that's just what i was wondering. Your business must have picked up extremely if you were just at a break even point and are now able to clain 250k net.

Do you get any investment tax credits?

[TJ Hooker]

Ah see, that's just what i was wondering. Your business must have picked up extremely if you were just at a break even point and are now able to clain 250k net.

Do you get any investment tax credits?

Yeah it picked up cause of a new staff (replaced 2 accountants with ones with 5+years of experience), better promotion (newspaper), and overall organization, and many many sleepness nights of un-returned phone calls, being put on hold, and flooding inboxes.

We had temporary investment tax credits to help with fiscal stimulus, but permanent ones are usually detrimenal to a company and hurt them more at the end, which is why i was not prepared to do that.  Since times were rough though, it was obviously an incentive to use investment tax credits to place more faith in investing in our company. Along with that, we gave a tax break down for customers for free during this time to draw more people in, until we passed the break even point. 

510 bay

Edit: If you are wondering, the company is public accounting, but i hope one day to be able to do governmental accounting

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All this in your first year? Or, how many years have you been in business, to be able to afford 2 well trained accountants? Seems like your wage expenses would've hiked.

[TJ Hooker]

I been in business about a year and a half now, but I think you underestimate the connections i had prior, and how hard i worked to even get started.One of the accountants I knew in business school (living in the same hall) and in a way took a huge risk, but he had faith in the company, ,and it paid off for him, as he is actually making a six-figure salary as of November 17th. Keep in mind that the company now, was bought off a previous owner, so the old customers still came to mine, and there was no need for early promotion.  The old owner got lazy, was not negotiating enough, and his staff was weak to be honest.  The first thing I did when i took over, was replaced the whole staff, had one excellent accountant and two mediocre ones (replaced now), and saw an immediate spike in customer satisfaction--people were telling me that it was some of the best customer service they ever had in the Bay Area.  I thought about buying a franchise but i found originality helped more, and the bank loans were quite generous.

510 Bay

Next step: Wal-mart negotiations, or Sprint :thumbsup: