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What's New? — The Ill Community

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  • 07/22/14--16:11: The General Business Thread
  • Alright yall this is a spinoff from the Tax Implications thread that was started by @JonnyRoccIT‌ . I made this thread to help out anybody who has general questions about getting started or going forward, legal matters in business, financing/banks/credit, how to find information, building websites, structure, taxation, business plans/proposals, investing, motivation - anything that has to do with running a business please ask the question here and me or @pralims will answer you promptly.

    Anything that has to do with even supplying apps or anything for that matter that can help someone, anybody, somewhere do something easier or better will be greatly appreciated.

    To kick things off I have put the topics in spoilers to make the O/P organized and easier to browse for mobile users.


    Business Entity/Legal Structures


    Sole Proprietorship

    The simplest structure is the sole proprietorship, which usually involves just one individual who owns and operates the enterprise. If you intend to work alone, this structure may be the way to go. The tax aspects of a sole proprietorship are appealing because the expenses and your income from the business are included on your personal income tax return, Form 1040. Your profits and losses are recorded on a form called Schedule C, which is filed with your 1040. The "bottom-line amount" from Schedule C is then transferred to your personal tax return. This is especially attractive because business losses you suffer may offset the income you have earned from your other sources.

    As a sole proprietor, you must also file a Schedule SE with Form 1040. You use Schedule SE to calculate how much self-employment tax you owe. In addition to paying annual self-employment taxes, you must make estimated tax payments if you expect to owe at least $1,000 in federal taxes for the year after deducting your withholding and credits, and your withholding will be less than the smaller of:

    1) 90 percent of the tax to be shown on your current year tax return or

    2) 100 percent of your previous year's tax liability.

    The federal government permits you to pay estimated taxes in four equal amounts throughout the year on the 15th of April, June, September and January. With a sole proprietorship, your business earnings are taxed only once, unlike other business structures. Another big plus is that you will have complete control over your business--you make all the decisions. There are a few disadvantages to consider, however. Selecting the sole proprietorship business structure means you are personally responsible for your company's liabilities. As a result, you are placing your assets at risk, and they could be seized to satisfy a business debt or a legal claim filed against you.Raising money for a sole proprietorship can also be difficult. Banks and other financing sources may be reluctant to make business loans to sole proprietorships. In most cases, you will have to depend on your financing sources, such as savings,
    home equity or family loans.


    Partnership

    If your business will be owned and operated by several individuals, you'll want to take a look at structuring your business as a partnership. Partnerships come in two varieties: general partnerships and limited partnerships. In a general partnership, the partners manage the company and assume responsibility for the partnership's debts and other obligations. A limited partnership has both general and limited partners. The general partners own and operate the business and assume liability for the partnership, while the limited partners serve as investors only; they have no control over the company and are not subject to the same liabilities as the general partners.

    Unless you expect to have many passive investors, limited partnerships are generally not the best choice for a new business because of all the required filings and administrative complexities. If you have two or more partners who want to be actively involved, a general partnership would be much easier to form.

    One of the major advantages of a partnership is the tax treatment it enjoys. A partnership does not pay tax on its income but "passes through" any profits or losses to the individual partners. At tax time, the partnership must file a tax return (Form 1065) that reports its income and loss to the IRS. In addition, each partner reports his or her share of income and loss on Schedule K-1 of Form 1065.

    Personal liability is a major concern if you use a general partnership to structure your business. Like sole proprietors, general partners are personally liable for the partnership's obligations and debts. Each general partner can act on behalf of the partnership, take out loans and make decisions that will affect and be binding on all the partners (if the partnership agreement permits). Keep in mind that partnerships are also more expensive to establish than sole proprietorships because they require more legal and accounting services.


    The other portion is in the next post


    As for what state is best to incorporate in, it really depends on what type of business you're trying to build. Please PM me and I may be able to assist you.




    Motivation

    For motivation give these books a read:



    Rich Dad, Poor Dad by Robert Kiyosaki

    51M2U9IfmTL.jpg



    Think & Grow Rich by Napoleon Hill

    Think-and-Grow-Rich.jpg




    @pralims‌
    @traestar‌
    @black caesar
    @MarcusGarvey‌
    @kontakz‌
    @BigBallsNoWorries‌
    @YunnSanco‌
    @KingSimba‌


    Feel free to post if yall can contribute, anything is plenty.

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    Season 8 Premiere of The Walking Dead, Sunday, October 22 at 9/8c on AMC

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    https://www.mediaite.com/online/gop-rep-accused-of-raping-17-year-old-sings-hymn-before-declaring-no-reason-i-would-resign/

    It seems like every day a new media or political figure is accused of having committed some form of a sex crime. Oh wait, it is every day, sometimes multiple times in one day. Yipes.

    Today’s contender in the “worst male in the world” contest is Kentucky Rep. Dan Johnson, who has been accused of sexually assaulting a 17-year-old girl at a New Year’s Eve party while he was acting as her preacher.

    This incident is said to have occurred in 2012, with alleged victim Maranda Richmond detailing her story to Louisiana Public Media, which has been transcribed by Raw Story.

    “He started to stroke her arm. He slid his hands up, under her shirt and bra, and groped her. He stuck his tongue in her mouth. Then, he forced his hands down her pants, underneath her underwear, and penetrated her with his finger,” the statement read. “She begged her pastor to stop and tried to force him off, quietly. She remembers not wanting to awaken Sarah. But Johnson was a big man, roughly twice her weight.”

    “He told her she’d like it. She said no, she didn’t. She pleaded with him: go away, go away.”

    Johnson responded to the allegation earlier today, appearing in the pulpit at the Heart of Fire Church, in Louisville.

    Before addressing the damning statement, the GOP Rep. decided it would be a good idea to sing a spirited hymn about baby Jesus, thus proving his religious bona-fides, or something.

    After filling the air with his dulcet tones, Johnson denied the allegation.

    “This allegation concerning this lady, this young girl, absolutely has no merit,” he said, going on to essentially blame the whole thing on our national conversation about sexual harassment and assault. “It is the season. Last election it seemed to be racism. This election it seems to be sexual impropriety.”

    “People want to go back over my whole entire life.”

    Johnson spiritedly denied that he would step away from his post, saying “There’s no reason I would resign.”


    Richmond did report the incident to police, but no charges were filed and, according to Time, local authorities have declined to comment as to why.

    Finally, if the name Dan Johnson rings a bell, it’s because this is the same Kentucky Rep. who compared Barack Obama and Michelle Obama to monkeys on multiple occasions, even posting an image of a chimpanzee and saying it was a “baby picture” of the former president.

    Cool guy!


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  • 09/27/14--09:10: Official MIAMI HEAT THREAD
  • Its time to get back into it for the upcoming season just about a month away. Its time to show that this team is capable of being a force without lebron and with the new additions to our team I'm more excited about the upcoming season more than I have since 10'-11'. Shoutout to the heatlifers infamous,Thatboyro, South4life, Thatni99ajahmal, yroholla, and Stringer Bell


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    The year is coming to an end and has been in my opinion a pretty good year in terms of quality out put amid the current scandal going on , I know Last Jedi, The Post , Molly's Games & All the Money in the world are still yet to drop , so you can edit as you go along but please post you favourite movies and TV shows. Does not have to be Top 10 just post what you were impressed with this year so far?

    1) Wind River
    2) Get Out
    3) The Death Of Stalin
    4) War of the Planet of the Apes
    5) Spiderman Homecoming
    6) Thor Ragnorak
    7) Baby Driver
    8) Wonder Woman
    9) Detroit/Dunkirk
    10) Logan/It

    Honorable Mentions - Battle of the Sexes , Girls Trip, Guardians of the Galaxy 2, Coco , Lego Batman, I am not your Negro & Atomic Blonde.

    Alot of Good TV this year

    1)Game of Thrones
    2)Insecure
    3)Veep
    4)Curb
    5)Stranger Things
    6)The Americans
    7)Fargo
    8)Glow
    9)Master of None
    10)Rick and Morty
    11) The Orville
    12) PBS and Ken Burns: Vietnam Documentary

    Honorable mention : Morning Joe, Real Time with Bill Maher, Halt and Catch Fire,BBC America: W1A, The Get Down,Netflix:Love, Black Ish , Better things, Big Little Lies,Billions, Dear White People, The Crown, SNL & Broad City.

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    From now on, feel free to post every hilarious/stupid/shameful spelling mistake made in Reason threads in here

    I'm proud to headline the #HOS '16 class

    Nah Son wrote: »
    The way he performs makes him look seriously retarted
    AggyAF wrote: »
    Nah Son wrote: »
    The way he performs makes him look seriously retarted

    Word my nigga?

    This one is classic:
    supergangster wrote: »
    That song is rly good but it really get me when his sons call his father "Schitzo" on the track.. Lmao I changed song emediltly. Wtf?

    I'm not even mad at this one cause it does sound like a word. But it isnt
    leftcoastkev wrote: »
    What's even more halirious is the story behind when he tried to come to San Fran woofing that shit and barely made it up outta there.

    Mixing up "rapping" with "raping" is a repeat offense on the Reason. Shockingly this doesnt only happen in 5Grand posts on some rap or get raped shit
    270crownst wrote: »
    How u raping on ye's joint...and say shit dumb shit like....I'm doing something in atlanta....
    blackgod813 wrote: »
    _Goldie_ wrote: »
    blackgod813 wrote: »
    Lauryn hill unplugged

    That's not a rap album.

    She most def is raping her ass off in songs on some next level shit
    blackgod813 wrote: »
    Is he playing on this or is he actually like raping for real?
    Preach2Teach wrote: »
    One of the best hip hop tracks ever made, Nas was raping like no other and Premo made one of his greatest beats, a true masterpiece.

    We gotta do better

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    Training camps are underway and preseason has begun.

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    We finally getting a real dbz fighting game. The last real dbz game we got was Super Dragonball z

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    dont forget ,

    Doug Jones or Roy Moore.

    get your shit together.


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  • 12/08/17--18:44: Old Head Party!!!
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    Let’s goooo

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    10 GOAT reactions to whoever can name the logical fallacy used here.

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    http://www.latimes.com/business/hollywood/la-fi-brett-ratner-russell-simmons-20171119-htmlstory.html

    Keri Claussen Khalighi was a 17-year-old fashion model from a farka when she met Brett Ratner and Russell Simmons at a casting call.

    Ratner was an up-and-coming music video director and a protege of Simmons, the Def Jam Recordings mogul. They took Khalighi to dinner one night in 1991 at Mr. Chow in New York, and then back to Simmons’ apartment to show her a music video they’d been working on.

    Quickly, Simmons began making aggressive sexual advances, yanking off her clothes, Khalighi said.

    “I looked over at Brett and said ‘help me’ and I'll never forget the look on his face,” she recalled. “In that moment, the realization fell on me that they were in it together.”

    Khalighi said that Simmons, who was then about twice her age, tried to force her to have intercourse. “I fought it wildly,” she said. He eventually relented and coerced her to perform oral sex, she alleged. “I guess I just acquiesced.”

    Ratner, meanwhile, “just sat there and watched,” she said.

    Feeling “disgusting,” Khalighi said she went to take a shower. Minutes later, she alleged, Simmons walked up behind her in the shower and briefly penetrated her without her consent. She said she jerked away, then he left. “It hurt so much.”

    It's over
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  • 04/07/17--07:38: Marvel's The Punisher
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    Chicago rapper Famous Dex gave his take on the generational divide in hip-hop during an interview with Montreality. Dex spoke about the lineage that he comes from and stated that without rappers like Nas there would be no Famous Dex. He praised some hip-hop's OGs such as Snoop, Wu-Tang, and others. Dex also spoke about JAY-Z's music in comparison to his own saying that while he provides listeners energy and a certain bounce, Hov provides "grown-man" content. "If you wanna hear real music, go listen to 4:44, go listen to DAMN, go listen to Nas, if you wanna be entertained and be hyped, go listen to me or Lil Pump..."

    Dex also talked about hearing Kendrick Lamar likes his music through Rich the Kid, and how if you don't respect the OGs of the hip-hop game then "f*ck you!"

    Do you agree with Famous Dex?

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    I am curious.

    I see alot of potential on the IC and everyone has a specialty that sets them apart..

    do you guys realize the people that you may look up to our see in business setting are not that good at their job but they do have the belief that their gift or what they can show as a gift makes them money?

    we all have that it.

    what are yours?

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    http://www.lakersnation.com/lavar-ball-president-donald-trump-liangelo-ball-china-lonzo-ball/2017/11/18/

    LaVar Ball, the father of Los Angeles Lakers rookie Lonzo Ball, has never been one to avoid courting controversy.

    The famously outspoken father has already criticized Luke Walton’s usage of his son and gotten into wars of words with other NBA players, but on Friday night he went after a decidedly larger target: President Donald Trump, via Arash Markazi of ESPN:
    LaVar Ball downplayed his son’s shoplifting incident in China as well as U.S. president Donald Trump’s involvement in getting his son and two UCLA teammates back to the United States earlier this week.

    “Who?” Ball told ESPN when asked about Trump’s involvement in the matter. “What was he over there for? Don’t tell me nothing. Everybody wants to make it seem like he helped me out.”

    UCLA guard LiAngelo Ball, Lonzo’s younger brother, was detained along with two UCLA teammates in China for allegedly shoplifting, a situation which Trump reportedly helped rectify, thus enabling the Bruins players to return home.

    After the incident, Trump wondered on Twitter when he’d be thanked for his assistance:

    LiAngelo and his fellow Bruins did thank Trump for his assistance at the press conference announcing that they had returned home and would be indefinitely suspended by UCLA, but it’s perhaps unsurprising that LaVar wants to distance his family from the current administration due to the current political climate.

    Alternatively, it might not be a coincidence that LaVar dropped these comments right as the internet was tearing his son apart for not immediately rushing into a scrum to fight alongside his teammates while he’s simultaneously playing the worst stretch of basketball of his life.

    LaVar is not an idiot, and he seems to understand more keenly than most what moves the news cycle along, and there is very little he could’ve done to make people forget about Lonzo’s struggles more quickly than start a feud with the most Twitter-argument happy president in U.S. history.

    LaVar also just knows the simple value for he and his family’s eponymous Big Baller Brand of being in the news cycle, and this is certainly one way to get a lot more than the traditional outlets talking about him. All press is good press, as they say (unless it’s press about your sons shoplifting and/or playing badly).

    Whatever the reason LaVar chose to go at Trump now, only one thing is certain: Everyone needs to grab their popcorn for the president’s response.

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    A black music executive who was boarding first class called out a white woman for trying to cut him in line because she didn't believe he was a priority passenger.

    Emmit Walker was traveling to the Dominican Republic from Ronald Reagan Washington National Airport in DC on Tuesday for his 37th birthday and was waiting in the priority boarding queue when the unidentified woman behind him tried cutting into his place in line.

    Walker posted the interaction he had with the woman along with her photo, but later regretted it, saying he felt bad he put her on blast.

    According to Walker's Facebook post, the exchange with the woman went like this:
    'Her: excuse me I believe you may be in the wrong place you need to let us thru. This line is for priority boarding.
    Me: priority meaning first class correct?

    Her: Yes...now excuse me they will call y’all after we board.
    Me: *shove first class priority boarding pass in her face* you can relax ma’am I’m in the right spot, been here longer, so you can board after me.

    Her: *still won’t let It go* he must be military or something, but we paid for our seats so he still should have to wait.
    Me: nope to big to ever be in anybodies military. I’m just a n**** with money.
    Everybody waiting in line: starts to clap.'

    Now, in the moment, it is easy to get tempted in today's viral age to post something that you feel needs calling out, however, Walker apologized only a day later for putting the still unidentified woman's face out there.

    He wrote: 'When I posted that post on Facebook i didn’t expect all that to come from it. I can honestly name the four or five people i thought would comment with something funny, and that will be it. This racist stuff is definitely a issue but this is not the solution to that issue.'


    He earnestly adds, 'It brings me no joy waking up in paradise to for my 37 bday and knowing that woman might be going threw hell. The story was definitely real, just like this issue is definitely real, but I now know that I myself should of handled it another way, or left it how it was, and not shared it publicly.'

    'When dealing with people i always try to stay on the side of Right, so to make sure I never do anybody wrong, I try to always put myself in that persons shoes, and ask how would I feel if that person did this to me, and if I was her this morning I would be a total wreak today, and that doesn’t help this situation, or her...it only makes them more angry, and bring more drama...

    SO I WOULD LIKE TO APOLOGIZE AGAIN TO THE WOMAN I HAD THIS ENCOUNTER WITH YESTERDAY. NO MATTER HOW WRONG YOUR ACTIONS YOU DON’T DESERVE THIS,' he continues.

    He tagged several people in the post and concluded with: 'I BELIEVE IF YOU CAN’T HELP NOBODY AT THE VERY LEAST YOU SHOULD NEVER DO ANYTHING TO HURT THEM.'

    A lot of people who posted under his apology to the woman, said he had nothing to apologize for, however it was clearly weighing on his conscience.

    He said all the people he tagged on Instagram were his biggest followers and he was hoping that he could make his apology go viral as well


    Read more: http://www.dailymail.co.uk/news/article-5157539/Black-man-puts-white-woman-blast-class-flight.html#ixzz50pf3QWdP
    Follow us: @MailOnline on Twitter | DailyMail on Facebook

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