Basic Assignments
 
Options & Settings
 
Main Time Information
Color Code: Yellow
Assigned To: Brandon Moore
Created By: Brandon Moore
Created Date/Time: 2/23/2022 2:48 pm
 
Action Status: Blank (new)
Show On The Web: Yes - (public)
Priority: 0
 
Time Id: 8770
Template/Type: Brandon Time
Title/Caption: Meeting with Chuck
Start Date/Time: 3/30/2022 10:00 am
End Date/Time: 3/30/2022 11:30 am
Main Status: Active

Sorry, no photos available for this element of time.


Notes:

Looking over code and visual stuff with Chuck on the upload media/content pages. Small work session and going over a question and answer stuff dealing with layouts, logic, and backend code. We then looked into the new system error messages and custom error page. We did some testing on a live server to make sure that the ColdFusion mapping for the image path was working. We tested in multiple file/folder combinations.

After that, we switched gears and started talking about multi member LLC's and options to go along with that. Chuck had some great ideas and comments. He has done some of this kind of stuff before with some of his other businesses that he has had. I was taking some notes as we were talking. Here are a few of my rough notes:

- On hours per week, maybe get a range between x and y vs a hard fast number like 40. For example: 5, 10, 15, 20, 25, 30, 35, 40, 45, etc. A range might be between 25 and 30 or between 30 and 40 or whatever. The range gives some flex but also sort of sets a min and a max. There may be weeks that they win and weeks that we could win (how many hours worked).

- We need our guys and gals to report back and let us know how many hours they are working. It would help with budgeting and could be tied to bonuses and games.

- Chuck was saying that per month, the average is 2 days off or 16-20 hours a month of vacation or sick time. Just talking some rough numbers.

- We chatted about bonuses and other perks.

- If giving out ownership percentages, we could have a virtual sign in/out option on those percentages. This is a way of freely trading the percentages without getting into all kinds of buy it back, pay it out, figure it out stuff. Set it up where we could assign a certain amount of ownership on a contingent type basis, then if all goes well, they keep it or it gets added on to. If it doesn't work out, we could get it back without any other trading or negotiating. Almost like ownership on loan until fully given. Just ideas.

- We talked pros and cons of a 30 hour work week. See this online article that covers a few of the ideas and concepts of the 30 hour work week. Just playing with ideas.

- Conversations about burnout and reasons for burnout

- Reporting back on hours per week or per month. Just for fun, we were talking about a goal per week and then setting maxes and mins per month to allow for some flexibility.

- What about overages - people who work extra hours? Maybe goes into extra vacation time or flex time. That would not alter any budgets as they would get a specific salary but may be able to add up some other bonus or perk. The other option was to pay a rate of x for any overages. We talked quite a bit about rewarding or awarding the over workers. That is not really the goal. Ideally, we would have our guys work less, be sharp, and want to play along.

- We talked about flex time and flex time usage. Allowing things to stack up and then use it later. We would need a way to record and keep track of that. Kinda like tracking paid vacation time in normal companies. For us, we could use something over in special accounts (section within the site). Just a thought.

- Chuck's dream is a 30 hour work week but being paid on the 40 hour rate.

- Setting expectations

- The cost of moral for our team - what does it take - what do we want to do (culture wise)?

- It would be great to setup a meeting with our CPA or accountant and get some training and education on tax implications, write offs, rules, tips, tricks, etc. Educate us as owners, sub-contractors, etc. Along those same lines, if there were write offs, would they be against adilas (as a company) or against our own companies or businesses?

- What about ongoing contract work for 1099 folks with an official business of their own? We would like to explore these options more. Instead of ownership, just straight sub-contractor work and what not.

- Advice from Chuck - hire a good accountant and then listen to them!

- Light talks about normal 1099 guys or 1099's to a company. Where do you get more possible write offs?

- What about forcing new comers to do a trial period via a 1099 company? Also, maybe a renewal period on the 1099 contracts? If we like what we see, we could offer or move that person or company to more of an ownership type relationship, as we see fit.

For the record, Chuck has a bunch of good ideas on taxes, businesses, and business structure. I was impressed. I sent Steve a text and told him that we may want to chat with Chuck about more options and ideas for our move to change the company structure. Good stuff!