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Discussion in 'Business Operations' started by dmk395, Jul 19, 2003.
How many years did it take you to draw a salary of 50K per year...how old were you at that time?
Not going there, You work for the IRS or United Charities International?
Quoting Landscape Management Magazine:
"What's your salary? Based on their work with over 50 companies across the country, the consulting firm of KehoeGuido found that owner-managers in high profit companies under $3 million in annual sales are earning combined salary (pay for managing their companies) and dividends (pay for return on ownership investment) at a rate of 8% of sales. In other words, in a high profit $2 million contracting business, the owner-manager grosses $160,000 per year, of which $100,000 is salary and $60,000 is dividends."
If you follow the average, than you'll need a company that grosses $625,000 to pull $50,000 a year salary.
All I can say is they're doing it wrong.
Its real easy
LOL..I love that. You make it sound so easy
Good answer lawn lad
Some of the other big cats must know something about this
If I grossed $625,000 in a year and was able to only keep $50,000 something would be drastically wrong. Does that mean If I made 100,000 I could only keep about $6,000? I am confused as to how these numbers add up.
I am somewhat confused too. I think for most companies in that range their debt is unbelievable, whereas a company like mine was built with little debt and after a few years of braking our backs we feel a nice profit.