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  #31  
Old 12-12-2008, 08:33 PM
JNyz JNyz is offline
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Join Date: Mar 2008
Location: Conshohocken, PA
Posts: 1,072
Quote:
Originally Posted by ford550 View Post
So are you saying that at the end of the season at $1500 net profit per week, you would be looking at a $60,000 net profit and that is not good enough? Maybe I am misunderstanding this? After all OH, wages, materials and salaries (including yourself) are paid and that new company profit isn't enough. I need to be given a lesson by you on what I am doing wrong. Net profit is not what you pay yourself at the end, it is what the company is making. Your salary should have already been recovered in the costs before profit.

I think you hit the nail on the head. Most guys do not know what profit means.
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  #32  
Old 12-12-2008, 10:36 PM
TSGVA TSGVA is offline
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Join Date: May 2008
Location: Central Virginia
Posts: 20
Quote:
Originally Posted by ford550 View Post
So are you saying that at the end of the season at $1500 net profit per week, you would be looking at a $60,000 net profit and that is not good enough? Maybe I am misunderstanding this? After all OH, wages, materials and salaries (including yourself) are paid and that new company profit isn't enough. I need to be given a lesson by you on what I am doing wrong. Net profit is not what you pay yourself at the end, it is what the company is making. Your salary should have already been recovered in the costs before profit.
Chris, you beat me to it.....glad I'm not the only one who's happy with a 10% net profit plus my salary, OH, etc, as mentioned earlier.
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  #33  
Old 12-13-2008, 06:31 PM
Lawnworks Lawnworks is offline
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Join Date: Jan 2000
Location: usa
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How much of a salary do you guys take? Seems like you would want a low salary so as to escape ss and fica taxes.
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  #34  
Old 12-15-2008, 09:05 PM
ford550 ford550 is offline
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Join Date: Nov 2008
Location: PA
Posts: 222
Quote:
How much of a salary do you guys take?
Salary should be based on how much you gross and what type of "HATS" you are wearing. Multiple hats means you are filling multiple positions. Which is what most of us do. Not only are we owners, presidents, etc., we might be the designer and estimator or manager, secretary, etc. I really don't want to get into exact numbers, but a company in the upper $000,000's to $1M range is in the $xxx,xxx for salary. I doubt your going to get anything specific on the website.
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