Table of Contents
Discord Forum
- www.discord.com jefferyjjensen#1674 NormalPin
Business Strategies
- 5. Own a building for your business? charge yourself higher rent
- 7. Host a company meeting at romantic location - write off travel, lodging and 50% of meal expenses
Incorporate my Business
S Corporation
- take Reasonable Salary
- take the rest in distributions which is not subject to self employment tax
- save 15.3% when earning less than $250,000. Then 3.2% tax savings on every dollar after that
C Corporation
- form a C Corporation for software division of GIS Engineering
- pay less taxes on the first $50,000 of income than I would as an LLC or S Corp
Partnership
- 1-member LLC? Then not being as tax efficient as I could be. Add a partner, then taxed as a partnership which uses IRS Schedule K instead of Schedule C to reduce my tax liability
- LLC with Cindy as partner is recommended 8/22/2021
Accountant
- Rachel, Phil, Cindy, Jason
Job Outlook
- Aerospace Engineering and Operations Technicians
- Aerospace Engineers
- Architects
- Assemblers and Fabricators
- Boilermakers
- Carpenters
- Civil Engineering Technicians
- Civil Engineers
- Drafters
- Electricians
- Electrical and Electronics Engineering Technicians
- Electrical and Electronics Engineers
- Electro-mechanical Technicians
- Heating, Air Conditioning, and Refrigeration Mechanics and Installers
- Industrial Designers
- Industrial Engineering Technicians
- Industrial Engineers
- Ironworkers
- Masonry Workers
- Materials Engineers
- Mechanical Engineering Technicians
- Mechanical Engineers
- Metal and Plastic Machine Workers
- Plumbers, Pipefitters, and Steamfitters
- Sheet Metal Workers
- Stationary Engineers and Boiler Operators
- Welders, Cutters, Solderers, and Brazers
- Woodworkers
Machine Shop Location
- Ideal - sublease area where I can setup a foundry and metal shop that would compliment their services
Contacted for Sublease
- Farmers Bank
- Commercial Loan - need 25% down, interest rate is 5.5-6.5% fixed, but after 5 years it is adjusted for another 5 yrs. Term length typically 15 years.
- L&M Enterprises - lment2701@gmail.com, 208-324-2701, 337 South 100 East, Jerome ID 83301 www.landment.com
- emailed on 6/15/2018
- Intermountain Fabrication and Machining Services, Josh Shobe, Machine Shop Manager, josh@intermountainfab.com
- issues with insurance do not have any space to spare.
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- Scott Cook 208-539-1403, scott@cookrealty1.com
- 1410 S Lincoln Suite H, Jerome ID 83338 cost is \$600 a month + \$200 cam
- 6/15/2018 asked if they would accept \$400 + \$25 cam first year, then \$600 + \$50 cam 2nd year, but Scott is not interested in a reduced price.
- Scott Jackson - 208-731-6000, hayman@northrim.net, ascottjackson09@gmail.com
- Evan with Schlor
- B & N Machine - bnmachine@cableone.net
- sub-lease, emailed on 6/15/2018
