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  • This will scare you

    I am a owner operator of a sub s corp, a one man show with two part-time people. I just came from my cpa.

    for those of you in the business make sure you ask this question.

    what is my monthly nut to cover before i can take a penny?

    mine was sky high from taxes, insurance, license, gas, and repairs. Over the year it averaged 1k a month just to keep the doors open before payment of any wages to anyone and does not include new equipment purchases.
    it breaks down to $5.74 per hour on a 40 hour work week.

    if your scared say your scared......

  • #2
    im scared. i had mine figured before the new year & its good to know where you stand. if you dont know or have an idea where your numbers are, youre in trouble.maybe not in a month,maybe not in a year,but eventually "it" creeps up on you.

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    • #3
      At least you know. Many don't have any idea.

      I'm basically in the same situation except I keep two full-time guys.

      At first I looked at my business the same way. I took what I could after expenses, payroll, and profit. Last year my accountant helped me setup a detailed personal and business budget. Now my personal salary is viewed as an indirect cost of doing business because I know exactly how much I need to live the lifestyle I want. This year I'm going to do the same with my full-time crew leader. He's still going to be hourly, but I know pretty close to what his yearly wages will be.

      I think it's easier to look at when I know exactly what I need to net in a year/month/day/hour to do business, including wages.

      I'm sure as hell no business guru by any means. I've figured things out the hard way. I'd like to hear what others have to say about this.

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      • #4
        I have magic #s. I know where i like my account balances,,, when.

        My personal accounts i can tally within $100s of dollars at a moments notice. My company account i can usually track within 5k one way or the other. I just check it more often online to see whats going in and out. My comfort level changes as things pick up and slow down in the winter. Long as i stay in those comfort levels,, i rest well.

        I also know if anything was amist,, my accountant would call me.
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        • #5
          Man I sometimes wish I could be like that, but I'm too anal. I have to know down to the penny how much is in my accounts or I worry about it. Maybe it wouldn't matter too much if I had $5k to play with though! That could mean the difference between $0 or $10k in my account because that's all I got.

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          • #6
            Dave I have something you would be interested in. I need to speak with you about it shortly. I'll PM you.
            a.k.a.---> Erich

            www.avalawnlandscaping.com


            Build a man a fire, he'll be warm for a day.
            Set a man on fire, he'll be warm for the rest of his life.

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