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Old 09-15-2011, 09:12 PM
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PROCUT1 PROCUT1 is offline
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Join Date: Dec 2003
Location: TN
Posts: 4,874
Quote:
Originally Posted by supercuts View Post
figure right off the top 33% goes to income tax....at least here in CT so your 60% is already nearly out the window. repairs, supplies, equipment replacement, insurance, etc. you don't mention employees either. payroll, Workman's comp..... do you really know your true operating cost? I know about where mine are but even I dont know 100%. the 25% figure he gave is a ballpark figure that most businesses try to achieve. mine is lower. most are. health insurance companies are only around 4% but still generate ridiculous amounts of money. its worth what you can get for it. contact your accountant if you pay taxes and have one, see what he thinks or if he can point you in the right direction
Income tax does not come "off the top" and its not a factor in the sale.
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