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How should I divide my small business income? What Category?

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RuhlandClan
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How should I divide my small business income? What Category?  Reply with quote  

I have a small business that is slowly but steadily growing. I bring home approximately $450 a month right now but there is much room for growth. Problem: I have absolutely no idea how to proceed from here. I basically put $400 of this back INTO the business by way of samples to hand out, trainings, accessories, education material, product for myself and family to use and to display at gatherings, and promotional materials.

What percentage goes where? I want to make money on this if possible, I'm just not sure how to proceed.

Thank you!
Post Thu Oct 31, 2013 6:39 pm
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Wino
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Re: How should I divide my small business income? What Categ  Reply with quote  

quote:
Originally posted by RuhlandClan
I have a small business that is slowly but steadily growing. I bring home approximately $450 a month right now but there is much room for growth. Problem: I have absolutely no idea how to proceed from here. I basically put $400 of this back INTO the business by way of samples to hand out, trainings, accessories, education material, product for myself and family to use and to display at gatherings, and promotional materials.

What percentage goes where? I want to make money on this if possible, I'm just not sure how to proceed.

Thank you!

You need to take 25% and set it aside for taxes. Assuming you've been doing this business for the entire year, you need to set aside about $1400 for taxes. You're going to be surprised when the end of the year comes if you don't.

You should invest as much as you can to grow the business. $450 per month is not much, and it need to grow to at least ten times that before you can live on it.
Post Fri Nov 01, 2013 6:20 am
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morrismartinez90
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Creating a small business income seems daunting, but escaping the J.O.B. world is easier than you might think. With just two simple steps, you can begin generating wealth from the comfort of your home office.

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Post Tue May 27, 2014 6:10 am
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stockbrokers
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if I were you, I would budget a salary for myself, and invest the rests to develop the business


What your stock broker doesn’t want you to see.
Post Fri Oct 03, 2014 11:26 am
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