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Is there a business questions megathread? For BFC we have lots of finance/credit but don't see any threads about starting/running/organizing a business. Maybe I'm blind My latest hair-brained scheme is I want to buy a 6 acre tract of land and plant a pecan orchard on it. It's looking like it would be revenue neutral within 5-7 years and maybe even profitable after that! Some years. also pecan orchards need to be sprayed with pesticides and zinc ~quarterly so this is a good low maintenance crop since it's like an hour from my house. I guess I could also put a handful of cattle on the land to graze it but you run into some interesting math about how much nitrogen cattle pull from the soil vs what the trees absorb so I'll have to revisit that Talked with the local ag finance guy and he posed an important question, would I be buying the land direct, or would it be through something like an LLC Initially I thought I'd just buy the land and maybe spin up an LLC to get a bank account to split things out for tax reasons. Mostly I've been looking at the financial cost/upkeep of a producing orchard, not the legal breakdown I guess there's three things happening here me (sole investor) the land the farming business couple ways to organize this 1. i own the land, the farming business 2. the LLC owns the land and the farming business, i own the LLC 3. i own the land, i own the LLC, and the LLC... .uses? leases for $1 the land? Trump rolled out some cool tax breaks for small business owners but I exceed the income limits for that thing. The other thing I've thought about is liability, the land is kitty-corner from a middle school; if some kids climb up in the trees and fall out and cripple themselves breaking their back landing on a cow, or whatever, they can sue me. I guess if the LLC is leasing the land for $1 then they could sue the LLC for... a couple bags of nuts, and a tractor? This doesn't seem to be a super litigious part of the state but thinking ahead. From a "protect my assets" point of view I guess the land and the farming business could be seperate LLC but I'm curious how the pass-through taxes, business losses etc add up. Being a starter farm I expect to run losses fairly regularly
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Apr 17, 2022 06:10
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Yeah I'm talking with an accountant next week, I'll have to loop in a lawyer as well it sounds like. Is it better to get the lawyer involved first so the accountant can double check the lawyers work? I have no issue paying reasonable fees for business advice, I just don't know what questions to ask yet We drove by a pecan orchard today about 20 minutes up the road from where we want to buy, the trees in that orchard were about 15 years old I don't think kids are going to want to climb those twiggy things but I guess they could blow off their thumb lighting off fireworks or whatever the latest tide pod challenge is in the years before the trees mature
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Apr 17, 2022 23:02
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Yeah I am wrapping up my knowledge gathering and about to prepare first draft of the business plan and getting quotes for the trees. The biggest wildcard in all this right now are fertilizer prices which are only going in one direction right now. I'm somewhere between "lol plants go in ground trees go brrrrr" and "if the soil analysis comes back with the right pH we can expect N return after X years, if not we'll need to till calcium into the soil which is going to impact margin by this much" there's actually hundreds of pages written on the topic by local ag schools which is nice. Pecans as a crop wasn't an accident it's pretty much the most hands off crop you can farm in the local soil
Hadlock fucked around with this message at 00:16 on Apr 18, 2022 |
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Apr 18, 2022 00:13
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H110Hawk posted:Do you have a written business plan? Knowledge of pecan farming? Or is this truly "this stuff literally grows in the dirt near us how hard could it be?" Because you're not going to get a loan without a business plan. What's the phrase, "you need to have money to make money" We're going to mostly fund this out of pocket and prove we have the time/connections/capacity to do farm management, and then at some point in the future (10 years?) upgrade to doing a 20+ acre vineyard, and yeah, make money in the process. Most of the larger USDA ag loans require farm management experience so six acres of orchard from scratch to producing is sort of our litmus test. Pecan farming doesn't translate to grapes very well, but most* grapes don't grow very well here so I'm picking a local cash crop winner instead *there's a local variety but they make garbage sweet wine from it, and there's not much local expertise in winemaking to outsource to. I might "casually" plant half an acre just to have a record of direct experience with it Still thinking this through but feeling good about it so far
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Apr 18, 2022 00:49
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Epitope posted:The arms race between fraudsters and fraud departments does create a shifting groundscape. If you're feeling skeeved, good to take the moment to evaluate. I got at least two really impressive fraud emails in the last month, beat out the Gmail filters which is generally near impossible because I can't remember the last time I saw one hit my personal email
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Apr 26, 2022 06:23
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Kind of seems like an identity theft scam? You're going to send your personal info and SSN into the ether without having talked to someone on the phone? I would call their brick and mortar location and get a quote for new tile for <pick your favorite mall> tell them you need about 50,000 sq ft. If nobody returns your call the same day I would be extremely suspicious Double the money and they're hiring right away? If it sounds too good to be true, it usually is
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Jul 27, 2022 01:20
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My company is offering to pay us up to 10% of our salary in company stock, at a 15% discount off the lowest price on a rolling 36 month time window* Company is cash flow positive but in hyper growth mode after going IPO fairly recently so I guess they're willing to shed equity to preserve cash flow in the first year Is this a terrible idea? Probably need to check on what the lockup period is for this stock. I was thinking about converting 2% of my pay which is an amount I could afford to lose if things went very sideways. The way it's structured, sounds like they're giving me a guaranteed 15% pay raise on whatever % of salary I'm interested in converting, plus the Delta on lowest stock price *The idea being that if it was $120 this month, but it drops to $100 for one day two years from now, I end up paying $85 for one share. Or, if at 36 months it dips to $80, I'd pay $68. I'm not sure how the retroactive mechanism works
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Aug 15, 2022 23:16
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Yeah I took a photo of that slide, turns out. The side uses the term ESPP several times. Max 25k per year. Share purchases twice a year, 15% discount applies to lower of start or end price of period, contains a 24 month look back, so if the price dips at any point, I get the lower price anywhere in the 24 months It's always possible the price continues to go down but we're posting some pretty good quarters I can't imagine it'll drop further Hadlock fucked around with this message at 02:12 on Aug 16, 2022 |
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Aug 16, 2022 02:08
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employment is at will, either party can terminate the agreement at any time 2 weeks notice is merely customary. "monday blah 2nd, i won't be showing up here anymore, ciao". if your boss texts you at 10am why you haven't shown up, that's his problem if you gave 2 weeks notice and they were like "lol, no, you work here forever" that's effectively slavery which is expressly not permitted in most places (except some hospitals during the pandemic, apparently, an entire heart surgery team quit to go work at another hospital for more pay and the govenor had to get involved, still legally dicey) that said, there are countries, the phillipines, I think, where when you apply, you're expected to submit a "letter of good conduct"* from your previous employer, and most employers won't hire people without said letter. this gives the employer huge leverage to tell them they can't quit until they've hired and trained a replacement before they'll write them that letter *I forget the exact name of this letter
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Oct 7, 2022 06:52
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We have a kid in daycare and at least once a quarter something happens (pops a fever mid-day) and one of us has to go get her. Uber will not drive a kid without a car seat (nor should you try) and uber in our area is.... horrific at best. Usually 9-45 minute wait to get a car. My wife goes into the office a couple times a... quarter? Month? If we didn't have the daycare requirement I'd have to drive her to the office then come back home, but she'd still have to walk from the gate of her closed campus. So we have a second car. Because of daycare we really need two cars unfortunately. There are actually three or four daycares in our neighborhood but they're all full so ours is across town. Sucks. If both of you don't need access to a second car 24/7 then yeah you can get away with it. Used to live 15 min walk from daycare, did just fine with one car.
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Oct 10, 2022 20:04
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gently caress it, I'm eating out today
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Oct 31, 2022 09:25
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Oh wow silver is up to $24/oz. I went through a phase and bought a handful of silver eagles at about $15-18/oz and the price had been super stable for a long time before that Holding precious metals is generally considered to be highly speculative. Word of warning, if you Google "price of silver/gold" all your targeted search advertising stuff is gonna be super hosed got weeks
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Jan 3, 2023 20:56
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If you have more time than money, and liquid capital to park, it's likely a better short term return than other options like the stock market right now, I guess. There's nothing wrong with it technically
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Jan 4, 2023 14:24
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Strong Sauce posted:I'm in SF I saw $9 fancy eggs out here in the middle of nowhere Atlantic coast. They might have actually been $8.89 but close enough
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Jan 8, 2023 19:46
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Are there any resources/templates for doing a university scholarship thing My cousin is a teacher at a moderately rural high school in Texas and I guess one year of tuition is about $12,000 at state school UT Austin After donating some money to their HS band program, that got me thinking, I was thinking about doing like a $1000 scholarship for seniors at that school Is there any kind of legal liability or, whatever. I know nothing about this. Based on Reddit it sounds like $1000 is still fine that's like, 1/10th of a year of tuition
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Apr 15, 2024 21:00
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You get one free credit report per year, I'd do that and get the full download, vs just a summary like you get with the free service 800 -> 650 is a pretty drastic drop, yeah maybe you had a really old credit card you closed and it finally dropped off your report after 7 years, shrinking your oldest credit card thing way down
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May 1, 2024 04:14
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Space Fish posted:FYI for people who recommend AnnualCreditReport.com -- people can now get a free credit report every week instead of once a year. It was originally a temporary expansion that all three credit bureaus agreed to expand to weekly. Rampant fraud! If not at the annual website, then where can you get the weekly one Why do you say rampant fraud
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May 1, 2024 08:36
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