Business owners. - Page 2
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  1. #26
    Join Date
    Jun 2012
    Location
    Ct
    Posts
    1,701

    Re: Business owners.

    Quote Originally Posted by Louie1961 View Post
    Number one rule of business, to me, being a CPA is keep records. You can't figure out your true costs without records, and you can't maximize your deductions without records. You don't need a shoe box of receipts either, but that will do. You can always snap pictures of your receipts with your phone and store them digitally in the cloud with something like Evernote or OneNote. Heck you can even do it with quickbooks on your smartphone now too. Keep track of all the miles you drive too.
    This is so important, in now starting to keep good records

    Sent from my KYOCERA-E6820 using Tapatalk

  2. #27
    Join Date
    Apr 2016
    Location
    Cleveland, Ohio
    Posts
    352

    Re: Business owners.

    I have worked for myself for years, not doing welding, but as a contractor doing marketing and corp comm and as an adjunct college English professor. I went back to corporate two years because I found a place I love, but I still teach on the side. I also edit papers, manuscripts, etc.
    Gina M. Tabasso
    HGR Industrial Surplus
    gtabasso@hgrinc.com
    www.hgrinc.com

  3. #28
    Join Date
    Dec 2012
    Location
    South Carolina
    Posts
    792

    Re: Business owners.

    Ill go ahead and throw this out there. In business, the saying, "its not what you know but WHO you know" is very true. Networking, is huge
    - Christian M.
    C3 Welding & Fabrication
    - CNC Plasma Cutting
    -Mobile Welding
    -Custom welding and fab
    www.c3welding.com

  4. #29
    Join Date
    Mar 2010
    Location
    Delaware
    Posts
    2,486

    Re: Business owners.

    If your thinking of going in business for yourself, you have to have your head screwed on straight and think about a few things.

    You will be everything from the owner to the janitor, so keep this in mind.

    Everything will be on your shoulders, so as Clint Eastwood would say (you have to know your limitations).

    If your married you have a (partner), not just to help take care of the house hold, but to help out with small things if you need ( like bring you the drill and bolts you left on the shop floor and forgot to put in the truck. So you wouldn't waste two hours picking everything up to get it yourself ).

    And as stated keeping good records, saving everything, writing it down, save it in your phone etc.

    There is a lot more to it then just raking in the money.
    www.georgesplasmacuttershop.com
    Plasma Cutter and Welder Repair
    Tec.Mo. Wholesale Distributor and Dealer
    Consumables for the PT and IPT torch's.

  5. #30
    Join Date
    Oct 2015
    Posts
    1,531

    Re: Business owners.

    If your married you have a (partner), not just to help take care of the house hold, but to help out with small things if you need ( like bring you the drill and bolts you left on the shop floor and forgot to put in the truck. So you wouldn't waste two hours picking everything up to get it yourself ).


    This can make you or break you. If you have a mate that is unable or unwilling to help you it will be twice as hard to accomplish anything. If you have a wife that does nothing but complain and will not life a finger to help I suggest you forget about a business.

  6. #31
    Join Date
    Dec 2013
    Location
    Dallas
    Posts
    146

    Re: Business owners.

    I have 2 huge jobs going up in the next couple months. 60k#s of steel in between the 2. Going to be the 2 biggest jobs I've ever done.

    One is a structural job, residential house, 43 columns, 63 beams

    The other is huge outdoor Trellis, 80'x20' and 20'x20'
    Lone Star Mobile Welding, LLC

    2006 Ram 3500
    Lincoln Ranger 250GXT
    Hypertherm 30 Air
    K2000 CAG
    ESAB Rebel 215ic
    Milwaukee mag drill
    Dewalt dry cut saw
    Milwaukee metal cutting circular saw
    Milwaukee M18 Fuel
    Chisholm Lead Reels

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