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  1. #16498

    Any suggestions for a first timer in Chicago?

    I am new here and want to know what is a good place to get some good massage and some extra services? I am thinking between Oki Doki, Logan Tantricas or independent providers. Any guidance will be much appreciated.

  2. #16497
    Senior Member


    Posts: 275

    Qbo

    Quote Originally Posted by StanleyStankas  [View Original Post]
    Yes they have offered that, however never partook. I am winding down in my career by choice and found out after along time in the small business ownership game. You don't own a business, a business owns you! Very profitable for me, however extremely stressful. I am in my senior years now and I doubt I will ever open up another business in my lifetime. Once the passion goes so goes the energy to keep it all going. When people would tell me oh you're so lucky you don't have a boss! I said yea I do. Everyone that walks in the door or rings the phone. They are called customers!
    My accountant asked for it. It's expensive and I pay it.

  3. #16496

    Good point

    Quote Originally Posted by E2304  [View Original Post]
    The online version allows offsite entry and review. You do have to pay every year however. Cosco I believe has a discount on first year.
    Yes they have offered that, however never partook. I am winding down in my career by choice and found out after along time in the small business ownership game. You don't own a business, a business owns you! Very profitable for me, however extremely stressful. I am in my senior years now and I doubt I will ever open up another business in my lifetime. Once the passion goes so goes the energy to keep it all going. When people would tell me oh you're so lucky you don't have a boss! I said yea I do. Everyone that walks in the door or rings the phone. They are called customers!

  4. #16495
    Senior Member


    Posts: 275

    Thank you Mei

    Quote Originally Posted by Bob521  [View Original Post]
    First, thank you for your business. It's actually Mei's place. I funded the business for her and I spend a fair amount of time there doing my own work (investments and financial consulting.).

    She will take you to the room. You may undress and cover yourself with the towel.

    It goes without saying, and forum members are well aware, but other pointers for any legit (no / he) place are (1) Don't grab her or try to cop a feel. (2) Don't deliberately flash your junk (3) Don't ask for a HE, (4) Don't jack-off during the massage. All of this has been attempted, and it really upsets her. And it upsets me also, since we're a couple. This should seem obvious, and certainly at a place like Massage Envy, you would not try those things. AS I've said before, some of our best customers are forum members. All respectful, good guys. They appreciate a good strong massage, and they also appreciate what a nice person she is. Bob
    This morning was the most thorough deep tissue massage of my recollection. Mei has an impressive power to weight ratio and engineers understanding of "the proper application of leverage. " I found the experience intimate and respectful as is proper for any clinician and their patient.

    I tipped enough to embarrass my therapist. She is supporting her family back home. Next time I will give less in respect of her feelings. I wish her and her business the best of success.

  5. #16494
    Senior Member


    Posts: 275

    Quick books vs QB online

    Quote Originally Posted by StanleyStankas  [View Original Post]
    You have done yourwuick books vs web online research and followed thru. For book keeping you might look into quickbooks pro. I ran a business full time for over 12 years and the last 8 or so part x. Much easier when it comes to tax season. I am still using qb pro 2005 even though I have newer machines. Let's just say there are easy hacks around the company wanting you to buy their new product from year to year. My accountant for years got me into it and I never looked back. Now as far as the translation goes. You might want to contact the company directly. Good work!
    The online version allows offsite entry and review. You do have to pay every year however. Cosco I believe has a discount on first year.

  6. #16493

    Sounds good and glad this is working!

    Quote Originally Posted by Bob521  [View Original Post]
    Thank you very much! We actually have matching Chromebooks and use Google Docs with the add-on translator. So we both can make concurrent entries of expenses and revenue in English or Chinese. I've also written contracts in Chinese and English but I found that 99% of US lawyers get upset at seeing Chinese in a contract (LOL). But that being said, I refuse to enter into a business deal with someone if they don't understand the deal.
    You have done your research and followed thru. For book keeping you might look into quickbooks pro. I ran a business full time for over 12 years and the last 8 or so part x. Much easier when it comes to tax season. I am still using qb pro 2005 even though I have newer machines. Let's just say there are easy hacks around the company wanting you to buy their new product from year to year. My accountant for years got me into it and I never looked back. Now as far as the translation goes. You might want to contact the company directly. Good work!

  7. #16492
    Senior Member


    Posts: 1255

    Thank you

    Thank you very much! We actually have matching Chromebooks and use Google Docs with the add-on translator. So we both can make concurrent entries of expenses and revenue in English or Chinese. I've also written contracts in Chinese and English but I found that 99% of US lawyers get upset at seeing Chinese in a contract (LOL). But that being said, I refuse to enter into a business deal with someone if they don't understand the deal.

    Quote Originally Posted by E2304  [View Original Post]
    Running a legit business makes it easier. Keep a ledger of income and actual expenses and you will be in good shape. I used to think I was up on things but I can't understand my return any more.

  8. #16491

    Been crazy but good

    Quote Originally Posted by Gopher88  [View Original Post]
    What up old man? I've let messages on your phone? You ok.
    I see they didn't kill my voice mail yet. My job was eliminated about 4 weeks ago, on 16th. But well enough!

  9. #16490
    Senior Member


    Posts: 275
    Quote Originally Posted by Bob521  [View Original Post]
    I'm going to attempt it myself, unless I run into trouble. I've been doing my own taxes for 44 years. Business taxes for three years. In my own case I use tax software and only deduct or claim verifiable items. That said, the tax rules are ridiculously inane and complex. My problem this time is learning the rules for a non-resident alien, which I guess amounts to reading, and then making sure I can come up with a way to verify both income and expenses. Cash businesses, and no 1099 forms (since none of her previous jobs issued anything) are tricky. WButh the withholding nd employment taxes are very very helpful items of advice.
    Running a legit business makes it easier. Keep a ledger of income and actual expenses and you will be in good shape. I used to think I was up on things but I can't understand my return any more.

  10. #16489
    Senior Member


    Posts: 1255

    Great information

    I'm laughing as I read this. Who would think I get legal and tax advice from USASG. (Don't worry, I'm not "relying" on this advice, and I will consult professional help. You're off the hook.) She does have a work permit. Although it was stolen, along with her passport and other vital documents, but I can document all that. I did document this as a $30,000 "demand loan" to her at the minimum "legal" rate.

    Quote Originally Posted by Lebruno  [View Original Post]
    You are correct. C-corp is the only business structure that allows non-US citizens to own a business in the US. That said, US will still require applicable work authorization (H1 B, EAD, GC) to legally work here irrespective of whether the worker also own the business.

    I would assume she has acceptable form of work authorization in place. If it is not the case, or is still under process, it might be best to review the options with an attorney.

    As regards the initial seed money, the money that you loaned to L, I believe will need to get recorded in the books and may attract a gift tax if it is 14000 or more. Reference - https://www.irs.gov/businesses/small...-on-gift-taxes.

    Also, L may be entitled to pay herself an interest for the initial loan upto 8% APR until the business is able to return the loan. Also, if properly documented, she should be able to take back the loan without having to pay any taxes on that.

    Again I'm not a legal professional and what I say may or may not exactly apply in your situation. So pl. Consult with one so you will have appropriate defenses to safeguard your situation.

  11. #16488
    Senior Member


    Posts: 1255

    Accountant

    I'm going to attempt it myself, unless I run into trouble. I've been doing my own taxes for 44 years. Business taxes for three years. In my own case I use tax software and only deduct or claim verifiable items. That said, the tax rules are ridiculously inane and complex. My problem this time is learning the rules for a non-resident alien, which I guess amounts to reading, and then making sure I can come up with a way to verify both income and expenses. Cash businesses, and no 1099 forms (since none of her previous jobs issued anything) are tricky. WButh the withholding nd employment taxes are very very helpful items of advice.

    Quote Originally Posted by E2304  [View Original Post]
    I use an expensive but competent accountant. Pm me if you want info.

  12. #16487
    Senior Member


    Posts: 1255

    Yes

    Its a long long process. I still remember, about ten years ago on a business trip. I was in a hotel bar and the bartender was smiling. He said to me: "Man, this is the happiest day of my life!" Today, I became an American citizen!. It was an emotional moment, actually for both us us. The things we take for granted in this county, immigrants spend years to achieve, sacrificing everything.

    Quote Originally Posted by DMichaels69  [View Original Post]
    Sounds like you are working on the green card?

  13. #16486

    Business Taxes

    You are correct. C-corp is the only business structure that allows non-US citizens to own a business in the US. That said, US will still require applicable work authorization (H1 B, EAD, GC) to legally work here irrespective of whether the worker also own the business.

    I would assume she has acceptable form of work authorization in place. If it is not the case, or is still under process, it might be best to review the options with an attorney.

    As regards the initial seed money, the money that you loaned to L, I believe will need to get recorded in the books and may attract a gift tax if it is 14000 or more. Reference - https://www.irs.gov/businesses/small...-on-gift-taxes.

    Also, L may be entitled to pay herself an interest for the initial loan upto 8% APR until the business is able to return the loan. Also, if properly documented, she should be able to take back the loan without having to pay any taxes on that.

    Again I'm not a legal professional and what I say may or may not exactly apply in your situation. So pl. Consult with one so you will have appropriate defenses to safeguard your situation.

    Quote Originally Posted by Bob521  [View Original Post]
    Yes. That's very helpful, thank you. The only footnote, I learned. We (she) had to be a C-corp because she is not a resident alien (yet). No green card, (yet). I can't be the owner since I still have an American wife who signs the tax return. I'm looking for tax software to handle her taxes. I use Turbo tax for my personal and investment taxes, TaxAct for my LLC, (because Turbo tax is way too expensive and my business is simple consulting and fee income).

  14. #16485

    C Corp

    Quote Originally Posted by Bob521  [View Original Post]
    Yes. That's very helpful, thank you. The only footnote, I learned. We (she) had to be a C-corp because she is not a resident alien (yet). No green card, (yet). I can't be the owner since I still have an American wife who signs the tax return. I'm looking for tax software to handle her taxes. I use Turbo tax for my personal and investment taxes, TaxAct for my LLC, (because Turbo tax is way too expensive and my business is simple consulting and fee income).
    Yes, I believe C Corp status allows / requires you to pass all income and loss back to the owner in the form of a Schedule K-1. That probably also includes any payments she is sending to China. Those should be made from her income and not from business profits or as business expenses.

  15. #16484
    Princess is legit. I know a girl who works there. They have a few new girls and more coming in, but they're not doing anything. Yet. Probably in due time but the owners run it legit. Belmont is the go-to. Hard to go wrong there.

    Quote Originally Posted by ChedLet64  [View Original Post]
    Been reading TER, EROS, Here, Reddit, Rubmaps for a few weeks now. I am ready. Where should I try first?

    I am thinking Princess on Belmont. Also considering Latin or Belmont Spa. I would appreciate some advisement if you can reply or PM. Thanks.

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