First month so far been slugged with an $83 ebay fee with little traffic lol so may be scrapping that idea for awhile.
I work for the family business (dad & uncle started it thirty years ago).
They still do ten hour days 6 days a week. They work hard but love it. We have 30 employees and have had up to 100. 30 is alot more manageable, but our overheads are still pretty much the same, which brings in profit margin. To pay that amount of people each week is tough, especially when clients don't pay on time or have 45 days to pay. That's 7 weeks of pay before we get money in!
Alot of people think to make heaps of money you need to have your own business. But then it's your assets ie house, car, investments etc that are on the line when things go south. It can be totally out of your control, especially if a builder/client goes broke half way thru a job... (Happened to us twice & cost us LOTS)
Do your research and be prepared to put in lots of time and money to get it moving. The rewards are great but the time spent is heavy. My dad and uncle could work for someone else and probably earn twice as much without the pressure of losing assets, finding work for 30 odd people and finding/chasing $$$ like they do now.
^^^ Well I just figured why would I pay a $50 subscription fee to ebay plus listing when etsy charges the same listing prices with out the fee and suits my target audience. Wow a couple g in ebay fees thats insane what was she selling? Also its cheaper to host my own website then it is to use ebay...
by the way i sell nothing on ebay its fukn madness all those fees.
open a buisness to offset all your investments to save on tax.
Once you own them you can no longer negative gear as they then become an asset not a liability you can offset, you must still be paying them off.I would first need to own more than one house lol
^^this. Negative gearing is a bit of a con. Nothing replaces shitloads of cash flow.
Couldn't agree more mate. Hiccup in the market and a bit of time out of work or a slow patch in the business suddenly makes an attractive tax offset a fucking nightmare.
I
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