I was just reviewing the reports for last year. I noticed that my profit/loss % was a little under 45% profit. I was wondering if that is good or bad or average?
Gross or net?
Get the book simple numbers big profits by Greg Crabtree
its focus is on Labor efficiency ratio and pretax net profit as key indicators
best Ive ever read
Pretax net profit of 5% and you’re going out of business
this is after you include a market value wage for yourself based on every function you perform within the business
45% profit is amazing! Is that after you paid yourself?
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No, That is including what I paid myself, I considered that profit. I am sole proprietor so to the IRS that doesn’t matter
I usually see sole proprietors usually getting 60-80% of gross revenue classified as gross personal income from a business on their personal 1040