Newbie: Questions on finding actual costs

[KEMPTONCUTTER]

Hey Guys, Just joined a few days ago but have be reading posts ever since. Everybody is awesome in the way they are willing to help each other.This will be my third in the "BIZ", first two were part time (40 hrs/ week).I just want to make sure I have figured my business costs correctly.These are the items I used in my calculations: Insurance (liability,vehicle,workmens comp,health,) Equipment (Truck, trailer,mowing eqipment,trimmers etc.) Labor (my salary)Miscellaneous (advertising,office supplies,postage,etc.).I took all those figures added together then divided by projected number of manhours/year.
Dont know if i am missing anything, thanx in advance for your help an advice.

[Phil Nilsson]

Of the dollars paid ... what portion is prepaid at year's end ... ? ... what portion of costs are being depreciated? ... are there any accrued but unpaid items applicable at years end? ... adding all outlays together probably results in an OVERstatement costs.

[KEMPTONCUTTER]

I dont think any of the costs will be prepaid at end of the year.Roughly 60% of my total costs will be depreciated, and 10% accrued. But im just try to make sure i can cover my costs and still turn a profit, better to high than to low not.

[Ground Works]

worksmans comp

Hey what does that run about for workmans comp?? is it different in all areas and is it based on the number ofg employees??

Lin

[KEMPTONCUTTER]

Its different in all areas, goes by number of employees, annual payroll including your salary. Mine turned out to be around 9% of total payroll for 3 employees.