SMB Guide Book @SMBGuideBook
The Small Biz Guide that will save you 💵 and make you smarter 🧠 Joined December 2022-
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Tax strategies aren’t strategies. It’s just knowing the rules of the game.
Very common issue for SMB’s. Filing business entity (Inc, LLC etc) paperwork incorrectly. It costs A LOT more to fix than it does to have it done right the first time.
Contractors doing over 1M: If you don’t understand over and under billed revenue, you won’t last long.
GM to everyone. Except the Karen who cut me off in school drop off line.
SMB ownership change usually triggers a taxable event. Call your tax pro first.
Boomer SMB owners. This is a must read.
Farms are getting popular. Most can’t turn a profit. It’s a cash eating suck hole.
There is a common misconception that local businesses are bad to own. I’m here to tell you, they make more money than you think.
The IRS is the most unnecessarily complicated government organization.
What’s the point of eating healthy if you don’t drink a metric ton of water? It’s like having a fancy sports car with no gas.
GM to all those SMB bakers working overnight for their Super Bowl.
My wife walking me to my car after the 374th LOI falls through.
Business is more about understanding people than numbers. You can always find a “numbers guy” to help. Harder to find a “people guy”.
What industries are notorious for having shitty SMB’s?
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And if Sam's List becomes a thing...I give you my word we won't change Calcy. Great calculators only need 3 numbers and a Q to get the job done.
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I don't know who needs to hear this, but when sending related party loan documents to an IRS agent, DO NOT SEND THE WORD FILE. THEY LOOK AT THE DATE CREATED From today's Tax Court case 👇
Death, taxes, and spring break blizzards in Colorado
Way too many people worry about the few hundred dollar bill to a CPA If your taxes are complex, get a CPA! They will pay for themselves I see way too many people make mistakes when they file their own
Gary Vaynerchuk on the pod today. Anything yall want covered?
The male urge to buy this old church and turn it into a combination: • Youtube recording studio • Office complex • Mountain bike garage • Cult Headquarters Who’s with me?
If you want to make the move from a W2 employee to a small business owner: Learn to manage by the balance sheet instead of the P&L 👇
3 jobs every kid should have: 1. hard/dirty: farming, landscaping, cleaning 2. dealing w/ the public: wait staff, cashier, retail 3. sales: commission-based, door to door, fundraising, or at least convincing people to do _____ Lays a great foundation for a career in anything
Life is so much better when you throw out your 90% polyester / 10% spandex golf shirts and replace them with based 100% cotton henleys.
Why does Little Caesar’s get no love? Both the company and their food. Domino’s gets all the attention but LC’s is more fascinating: - Dough & sauce made fresh onsite - Best value hands down. A large pie was still $5 until 2 years ago. Now $7 - 4,200 locations - Went over a…
Do you know what a "cake day" is? Probably not, because my wife and I invented it 30 minutes ago. On days when I don't feel like working and she doesn't feel like teaching the kids, we drive to a bakery, buy a bigass sheet cake, and... Eat the cake while slamming Cuervo shots.
@KrissBergTweets You can do it! I have a good friend who is a 3rd generation car wash owner and in growth mode! It's a fun business!
@KrissBergTweets I think the main challenge here will be whether you can continue acquiring washes at that price in CO for that timeframe. And if there are enough owners willing to sell at that cap rate with the kind of wash you prefer. Hope it works for you all!
Can I turn this car wash side hustle into a $100M business? Here's our 10 year plan, tear into this and tell me where I'm wrong... The plan is to buy on average 2-3 car washes every year for the next 6 years or so. Here’s what that will look like: If we can buy at an average…