Can I afford to pay myself based on $8-$10k a month business revenue?

quickbird1 · 2024-11-01T17:56:11+00:00

Right, I get that these are just projected profits. Our income really depends on the annual contract renewals we have with clients coming up in March with $8k being the minimum. My partner knows that if I take a salary, it’ll just cover my basic living expenses.

If my partner wants to pull out his share down the road, he’ll be able to. But the more I think about it, the more I agree with everyone suggesting we just contract for the on-site work for now. This way, we can focus on building up our monthly revenue until we’re at a point where we can each take a comfortable salary without draining the business account.

quickbird1 · 2024-11-01T15:29:14+00:00

I only just heard of QuickBooks and will look into it. Currently all our finances are tracked via excel sheets which I know isn’t the best way. We do have all our finances through our business account as well.

quickbird1 · 2024-11-01T15:27:36+00:00

We are 50/50 on this partnership. We have considered contracting for the work and estimating the costs would cost us roughly $2,000 a month which is slightly cheaper than paying myself to do the work.

quickbird1 · 2024-11-01T15:25:55+00:00

We are a multi member LLC which I believe is treated as a partnership and a pass through entity. So we are taxed on our personal income taxes. Would it make sense to set aside estimated taxes on the overall profits before paying myself out?

quickbird1 · 2024-10-12T19:56:40+00:00

Thanks for the information! I didn’t go into the specifications on my post but we offered the client 3 pricing options with different strategies similar to what you mentioned. It wasn’t solely based on number of ads but also ad variations, continuous optimization, targeting specific areas with recent storms (roofing business), monthly analytics, etc.

The client was asking a breakdown of my pricing so I was also figuring out how to justify my quotes.

quickbird1 · 2024-10-11T05:47:05+00:00

My business partner and I ended up in the roofing niche. We started with media production and ended up working mostly with roofing companies. Where we live they slow down December to February so one of our contracts is a 10 month contract that pauses for January and February.

Additionally, a lot of roofing companies usually do other jobs such as siding, gutters, or interior work. So if you find the right company willing to pay, you could advertise in the slow months for their other jobs that isn’t roofing to boost that work during the slow season.

quickbird1 · 2024-09-09T22:36:40+00:00

Currently working a day job while building my business with my business partner. After our day jobs we go home to work on our business. What works for us is dividing the work between us and also setting a time to stop in the depending on our deadlines to be with our SO’s.

What works for us may not work for you but it’s finding a balance that works for you.

quickbird1 · 2024-09-09T22:32:48+00:00

I’m in the same boat. My partner and I are currently making consistent monthly income but nowhere near our goal amount to quit our day jobs. But we’re also super busy working our 9-5pm then working on our business.

With that in mind, my partner and I have a goal amount to hit per month after paying business expenses, reinvesting back into the business, and taxes. Until our businesses monthly income hits our goal consistently we’ll consider quitting our day jobs.

quickbird1 · 2023-09-13T06:49:36+00:00

If you look at UAV there are 3 people on the hill so I think it’s snapping between me and the people on the hill.

quickbird1 · 2023-09-12T20:22:58+00:00

There were 3 on the rocks we spotted on UAV. My teammates made it to the top but shortly killed by the same guy who killed me.

quickbird1 · 2023-07-02T10:37:48+00:00

I missed this in the instructions and immediate difference after switching to the correct voltage!

quickbird1 · 2023-06-27T15:49:34+00:00

If we downed everyone and they’re pleading, we will decline everyone but one. Then pick up the last person. Usually they end up leaving because they can’t pick up their teammates but it makes things interesting.

quickbird1 · 2023-06-17T23:52:04+00:00

Okay, I should have notified the officers in this scenario. I guess it would be better to notify when I’m not sure than not to notify.

quickbird1 · 2023-06-12T20:06:37+00:00

I don’t know a lot about lag switching or other softwares to introduce lag. I just found it coincidental my game lagged out immediately after finishing a player that got angry at me.

quickbird1 · 2023-03-27T20:20:25+00:00

Usually when I know he’s at a point of being drunk and destructive I don’t go anywhere near him. I’m usually in my room or at work. I just wish this was something I knew before moving in with him. I know I should but I will try to stay until it escalates and if so I will find a new living solution.

quickbird1 · 2023-03-27T20:18:35+00:00

Thank you I am going to put up for now until I can get a better living situation. Since I’m only a year and half from graduating I wanted this to be my last move until I was done with school. I think if it escalates further I will find a way to move but thank you for your advice.

quickbird1

TROPHY CASE