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Answer Upon - How To Realistically Set Your Fees - Part 3
Telecommunications is the lifeline of any business. So every business unit has to maintain a telecommunications network for its multifarious in-house and out-sourced operations—maintaining and expanding its client base, making supplies of finished products, getting raw materials if it is a manufacturing unit, advertising, liaison work with government and
If we total these up we get a yearly figure of $12,000. Now keep in mind, that most of these will be paid for in after tax dollars. So, we need to add approximately an additional 30% to t
This article is designed to help people choose the correct asset labels for application in your School, Office, Company, College or University.Asset Label TypesWe have split asset labels into different categories and will explain their strengths and suitability and their applications.1) Permanent frangible vinyl asset labels 2)
We have previously examined realistic billable hours and the effect of business expenses on your hourly rate. Now we'll look at the effect of benefits.
Once upon at time, when we were employed, we received a benefits package from our employer. This usually included health, life and disability insurance. Many firms also had available pension programs, profit sharing, dental and vision coverage. In addition, one-half of your social security was paid by your employer.
As self-employed individuals, we have to provide these benefits for ourselves. This means an additional boast to the hourly rate we've calculated so far. For the sake of argument, let's figure a standard benefits package consisting of health, life, disability, pension and profit sharing. Let's figure health insurance costs at $300 per month; life at $50 per month; disability at $150 per month; pension (a SEP-IRA) at $500 per month and about 10% for a profit margin.
If we total these up we get a yearly figure of $12,000. Now keep in mind, that most of these will be paid for in after tax dollars. So, we need to add approximately an additional 30% to th
For all those who innocently enquire- why would a profit hungry corporation start distributing corporate gifts to anybody, here is some information that will come as a surprise. Distribution of Corporate gifts has been one of the oldest management techniques to either motivate its employees or reach out to the customers.How does giving gifts help?
As self-employed individuals, we have to provide these benefits for ourselves. This means an additional boast to the hourly rate we've calculated so far. For the sake of argument, let's figure a standard benefits package consisting of health, life, disability, pension and profit sharing. Let's figure health insurance costs at $300 per month; life at $50 per month; disability at $150 per month; pension (a SEP-IRA) at $500 per month and about 10% for a profit margin.
If we total these up we get a yearly figure of $12,000. Now keep in mind, that most of these will be paid for in after tax dollars. So, we need to add approximately an additional 30% to t
Before any document is finalized, you need to let someone else take a look at it. I cannot stress enough the significance of this step! Letters, memos, reports, brochures, even important e-mails—any writing that will see the light of day— should be read by others before you send it off because:• Feedback sharpens your final product even thou
As self-employed individuals, we have to provide these benefits for ourselves. This means an additional boast to the hourly rate we've calculated so far. For the sake of argument, let's figure a standard benefits package consisting of health, life, disability, pension and profit sharing. Let's figure health insurance costs at $300 per month; life at $50 per month; disability at $150 per month; pension (a SEP-IRA) at $500 per month and about 10% for a profit margin.
If we total these up we get a yearly figure of $12,000. Now keep in mind, that most of these will be paid for in after tax dollars. So, we need to add approximately an additional 30% to t
The Dreaded SLBH If you're like most exhibitors, your first day back in the office after a trade show contains a myriad of competing priorities. Messages from current clients who need you beckon, the list of daily to-do's has piled up for several days, and business-as-usual marches on. Now's the time NOT to let the trade show leads that you worke
If we total these up we get a yearly figure of $12,000. Now keep in mind, that most of these will be paid for in after tax dollars. So, we need to add approximately an additional 30% to t
Searching for a legitimate business opportunity takes time and research. There is no business opportunity that you should ever get into that makes unrealistic demands. If there is a sense of urgency, a one time only offer that ends tomorrow, or an extremely reduced price offer, you should know that there is something wrong. There are other things to look
If we total these up we get a yearly figure of $12,000. Now keep in mind, that most of these will be paid for in after tax dollars. So, we need to add approximately an additional 30% to this number, for a true total of about $15,600 per year. The 30% represents the amount of taxes you need to pay to end up with the net amount of money needed to pay for your benefits package. Keep in mind that I chose 30% as a completely arbitrary number. Your own tax situation may be higher or lower.
How does this effect our hourly rate, let's see. Last article we left off at $56 per hour. This represented a yearly salary of $42,000 plus annual business expenses of $15,000. If we take the $15,600 in benefit costs and divide by our billable hours of 1100 per year, we get approximately $14 per hour. This brings our total hourly rate to $70 per hour.
Now, we need to factor in our profit sharing percentage. Once again, I choose 10% as a representative number. Your targeted profit could be higher or lower. If you take your $70 per hour rate, multiply by 10%, you end up with $7 per hour. Your total hourly rate comes to $
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