Hi All,
I'm making software. Currently a better CO2 calculator. The other thing I thought might be useful to the community is the kind of detailed budgeting and cost estimate software I made for several commercial growers in Washington when I-502 passed. The reason being that a lot of good people lost everything as a result of not understanding how bad the legal market would be, especially in the context of not being able to deduct anything at the federal level. I fully expect the same thing to happen in other states as recreation laws continue to pass and I'd like to warn people somehow. I'm not a good speaker, but I'm a decent numbers guy, so I thought maybe if I made a tool and people who knew about it warned their friends to check their profit margins before getting involved in anything, maybe that could help.
The people who listened to me stayed out of it. The ones who didn't are operating very high turn over businesses that have very low profits, or losses. One fellow I handled a lot of the I-502 paperwork for is super impressed with himself because he has a gross profit of over 1,000,000 annually, which sounds good, until I tell you that his net is just 10,000 annually. And he works 12+ hours a day almost every day. He'd be better off working at McDonald's. Not a numbers guy and no matter how many graphs I showed him he just didn't understand that it doesn't matter how much he makes if he has to spend 99% of it and he's still pocketing less than minimum wage. He still doesn't believe me and can't understand why he has trouble feeding his kids.
Do you all think this would be a useful tool that might help to protect people from what amounts to a tax trap or is it more likely that people won't listen and just need to try and fail on their own? It'll be a fair amount of work and I don't need it, so I'll build it if you think people might get some use of it and maybe make some better choices, but otherwise I won't.
Please share your opinions and thanks for taking the time to hear me out.
I'm making software. Currently a better CO2 calculator. The other thing I thought might be useful to the community is the kind of detailed budgeting and cost estimate software I made for several commercial growers in Washington when I-502 passed. The reason being that a lot of good people lost everything as a result of not understanding how bad the legal market would be, especially in the context of not being able to deduct anything at the federal level. I fully expect the same thing to happen in other states as recreation laws continue to pass and I'd like to warn people somehow. I'm not a good speaker, but I'm a decent numbers guy, so I thought maybe if I made a tool and people who knew about it warned their friends to check their profit margins before getting involved in anything, maybe that could help.
The people who listened to me stayed out of it. The ones who didn't are operating very high turn over businesses that have very low profits, or losses. One fellow I handled a lot of the I-502 paperwork for is super impressed with himself because he has a gross profit of over 1,000,000 annually, which sounds good, until I tell you that his net is just 10,000 annually. And he works 12+ hours a day almost every day. He'd be better off working at McDonald's. Not a numbers guy and no matter how many graphs I showed him he just didn't understand that it doesn't matter how much he makes if he has to spend 99% of it and he's still pocketing less than minimum wage. He still doesn't believe me and can't understand why he has trouble feeding his kids.
Do you all think this would be a useful tool that might help to protect people from what amounts to a tax trap or is it more likely that people won't listen and just need to try and fail on their own? It'll be a fair amount of work and I don't need it, so I'll build it if you think people might get some use of it and maybe make some better choices, but otherwise I won't.
Please share your opinions and thanks for taking the time to hear me out.