2,165 karma · joined May 13, 2009
The cost for support is low too, relatively speaking. Obviously not all businesses have enough margin to consider this, some support is more expensive than others etc.
Not all providers offer FBLs, in that case my internet provider gets an abuse notice which is forwarded along to me. Not a ton of activity there on a 500k person mailing list, the FBLs are pretty effective.
Also, since we have the email processing system in place, it's easy to detect bounces and auto unsubscribe people. I immediately unsubscribe on a hard bounce, and wait for 5 soft bounces before doing the same thing.
The Trump comment was tossed in because it's been easy to forget about this stuff as a coastal living millenial, and the recent Trump phenomenon has brought it back to the forefront.
Sorry for the initial snarky comment!
We are a current team of 9, building software for bicyclists. We have a comprehensive website that allows users to plan, review and organize their riding. We also have a class leading mobile app for iOS and Android that enables navigation, live logging and extremely battery efficient recording of bike rides.
We are looking for an experienced backend engineer (rails, node, mysql/mongo/redis, self hosted physical machines) and a mobile dev (iOS or Android).
The mobile developer candidate is skilled in either iOS or Android (or both!) and will work closely with our existing talented mobile dev. He currently works on both the Android and iOS apps, and we'd like to get a dedicated engineer for each platform.
The backend engineer should have the chops to help with various devops tasks (20% of role) as well as create solid, scalable work in rails and other web frameworks (80% of role). We have a dedicated front end engineer and would like to complement him with more bandwidth on the backend. Currently, my co-founder and I are the sole backend developers.
We are a fast growing, bootstrapped and profitable business that offers an excellent work life balance along with great benefits. Full medical/dental/vision plus a 10% matched 401k, bike reimbursement program and more.
Email cullen@ridewithgps.com if interested.
This is bordering on ranting, but happens all the time and is just a cost of doing business, which means my regular customers get to pay more to deal with people like you. Contact the merchant first, they are usually very prompt and want to avoid chargebacks like the plague, because they cost real money.
We have a pretty sophisticated business intelligence platform written in R that gets us estimated revenues within 10%, so I know how to budget through the year for taxes owed. I just pay my known quarterlies and keep enough in the bank to handle the remainder at year end.
In regard to your question about why your misconception is common, no idea. Just a quick google shows lots of accurate descriptions of the benefits of an S-Corp. Maybe a misunderstanding with your accountants?
After moving to a larger (and much more expensive) accounting firm, and learning from our previous mistakes, I've had a much more pleasant time dealing with this stuff. It's all arcane and stupid when it comes down to it, but you have to learn it to effectively manage your tax burden. If you don't actively think about it you get absolutely screwed on occasion, as it affects everything about your business. And the mistakes get expensive as your revenue scales up.
This is getting totally tangential, but you can probably hardly imagine all the crazy rules regarding taxation in the case of a sales event. Operating as an S-Corp is fine and dandy, but creates an additional hurdle for getting investment and for sales. S-Corps can only be owned by individuals, so an acquisition or an investment means restructuring, but you are restructuring after a planned purchase, which says certain things about intent which makes the restructuring likely a taxable event in and of itself.
I strongly strongly strongly recommend talking to an experienced business lawyer, and having them recommend an experienced business tax planner. This isn't schemey tax avoidance stuff, this is fundamental planning so you don't get a surprise $200k bill at some point!
With an S-Corp, you pay your owners a reasonable salary. $50-70k is reasonable for our field according to our CPA. Any profits or losses from the business pass through to your personal income tax via a Schedule K1. The profits are taxed like normal income, they are not taxed as capital gains.
The tax savings come from the fact that the distributions you draw from the profits of the company are not subject to FICA (medicare, social security). This saves you upwards of 13%.
If you draw more than your profits for the year (say you run an accrual method of accounting, not cash, so you recognize revenue after services have been fully rendered, rather than when the cash comes in and you can have a large bank balance but no profit for that year), the excess is essentially double taxed with capital gains. A painful mistake, so track your AAA appropriately :)
Your hardware seems to be top notch!
Ahh, good explanation of the group updates functionality. Is this a problem for a small group of 4, every 15 minutes? Seems like not too much bandwidth if you aren't talking about an update ever minute.
Android app is missing some great features like automatic group location updates. Right now you have to get location updates manually broadcast to you by each person in the group. Lots of crashes too.
I applied for an SDK but haven't heard anything back in three months. Feels like the project is dead, as there have been no android app updates in that time either.
Bigger B2B is a different beast, if you are a core piece of someones business they will not let you expire.
Race weekend coming up, today is a practice day at the track ;)
One of my employees does this by spending the morning hours managing his inbox and otherwise catching up. Additionally, he always makes a fresh pot of coffee right when getting in. The coffee maker has a 2 hour heat timer, so when it dings at 8:30am it's a clear indication he was in the office early.
You don't have to be blatant. He isn't, but he's well known as the guy in the office that likes working super early, and no one gets bent when he steps out of the office by 4pm. They occasionally whine about how it's unfair he's a morning person and gets to enjoy the afternoon sun, but it's jovial joking about their night owl habits compared to his morning habits.
Basically, having a good team that understands and respects each other is the key. If you don't have that you miss out on many of the good parts.
Here's a pic of my biz partner modeling one during our recent office move: https://lh3.googleusercontent.com/-UNFNw1p6-Xw/VG_WYEYFfYI/A...