Indicators you are not charging enough
#5132160
07/22/15 10:30 AM
07/22/15 10:30 AM
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Joined: Dec 2008
Posts: 28,715 Eastern Shore of Maryland
HobbieTrapper
OP
"Chippendale Trapper"
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OP
"Chippendale Trapper"
Joined: Dec 2008
Posts: 28,715
Eastern Shore of Maryland
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I don't think I am getting proper compensation for what I'm doing. What are some key indicators I can use to confirm this?
-Goofy-
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Re: Indicators you are not charging enough
[Re: HobbieTrapper]
#5132359
07/22/15 01:59 PM
07/22/15 01:59 PM
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Joined: Jun 2013
Posts: 95 Florida
bjansma
trapper
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trapper
Joined: Jun 2013
Posts: 95
Florida
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If you are not in the ballpark of your competitors' pricing you should start there. If you are you might not be able to raise prices. It might boil down to productivity.
Figure out how to do a job a day quicker or get rid of the gas guzzler. Raising prices isn't the only answer.
In my opinion charging a premium requires you to do something different(better) than your competition.
Bob Jansma
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Re: Indicators you are not charging enough
[Re: HobbieTrapper]
#5132725
07/22/15 07:34 PM
07/22/15 07:34 PM
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Joined: Dec 2008
Posts: 28,715 Eastern Shore of Maryland
HobbieTrapper
OP
"Chippendale Trapper"
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OP
"Chippendale Trapper"
Joined: Dec 2008
Posts: 28,715
Eastern Shore of Maryland
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I appreciate the input. I have the luxury of not having to depend on these jobs as a means to survive but I don't want to be under cutting the guys that do. I'm getting 80% of the jobs after the quote so I could probably dial it up a bit.
-Goofy-
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Re: Indicators you are not charging enough
[Re: Gabby 57]
#5132808
07/22/15 08:49 PM
07/22/15 08:49 PM
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Joined: Feb 2012
Posts: 76 Maine
huntinjunkie
trapper
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trapper
Joined: Feb 2012
Posts: 76
Maine
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My recommendation is to go see a CPA and have them help you figure out what your true costs to operate your business are, especially your vehicle costs since they are your largest everyday expense. A good CPA will know the important questions to ask. The SBA is another good option to use to figure this out. Solid advice there. My CPA has helped me a lot.
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Re: Indicators you are not charging enough
[Re: Paul Winkelmann]
#5134206
07/23/15 10:08 PM
07/23/15 10:08 PM
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Joined: Mar 2014
Posts: 3,655 Central Texas
Chancey
trapper
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trapper
Joined: Mar 2014
Posts: 3,655
Central Texas
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Okay guys, how does your CPA use a portion of your house as a business deduction? There is almost as much square footage in my home
that is used for business as there is for personal. I can't find any deduction for business use of a personal vehicle either. I'm not
real sharp at reading my end of the year statement but I swear that my CPA has got a second job with the IRS. Thanks for the good information guys. Paul, my tax lady allows me to write off whatever percentage the office is compared to the house on all the utility bills. For example, if the house was 1000 square feet and my office was 100 square feet, then I could write off 10% of the electric bill. Like stated earlier by Throwback though it has to be used 100% for the office. I need to talk to the tax lady again though because I am trying to figure out how to charge for equipment. How do you gentlemen charge appropriately for all the specialty materials it takes to run a job? Thanks, chancey
Resident Conspiracy Theorist Accused Moron, Nazi, Low IQ, and Putin Fan Boy
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Re: Indicators you are not charging enough
[Re: travellintrapper]
#5139267
07/28/15 11:57 AM
07/28/15 11:57 AM
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Joined: Jul 2012
Posts: 188 California
Throw Back
trapper
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trapper
Joined: Jul 2012
Posts: 188
California
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Throw back you either need to quit doing your own taxes or fire the guy who is. Whatever the case you definitely need to quit giving tax advice because you can't be more wrong.
If you have an attached garage and you use a portion of it for business you can deduct that percentage. That's not what I said. I said the area has to be a designated business area. I can find the law later from the irs, but to reiterate the AREA, Not you house, has e to be a designated area. As is if I have a room that is MY OFFICE, I can deduct that square footage, but If I happen to do my paperwork in the kids playroom, that is not considered tax deductible.
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Re: Indicators you are not charging enough
[Re: Throw Back]
#5139272
07/28/15 12:00 PM
07/28/15 12:00 PM
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Joined: Jul 2012
Posts: 188 California
Throw Back
trapper
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trapper
Joined: Jul 2012
Posts: 188
California
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Throw back you either need to quit doing your own taxes or fire the guy who is. Whatever the case you definitely need to quit giving tax advice because you can't be more wrong.
If you have an attached garage and you use a portion of it for business you can deduct that percentage. That's not what I said. I said the area has to be a designated business area. I can find the law later from the irs, but to reiterate the AREA, Not you house, has e to be a designated area. As is if I have a room that is MY OFFICE, I can deduct that square footage, but If I happen to do my paperwork in the kids playroom, that is not considered tax deductible. I see where we got crossed. I meant the portion of the house being used has to be 100% business to deduct, not 100% of the house has to be business to deduct a portion. Thought I was clear enough
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Re: Indicators you are not charging enough
[Re: travellintrapper]
#5139559
07/28/15 05:41 PM
07/28/15 05:41 PM
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Joined: Jul 2012
Posts: 188 California
Throw Back
trapper
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trapper
Joined: Jul 2012
Posts: 188
California
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Regardless of how you say it your wrong. In Paul's example of 75 pct of his garage being used for work he can deduct 75 pct of the square footage of his garage Still, from My,understanding it has to be a DESIGNATED 75 percent of his garage. Not just all his stuff taking up 75 pct. Otherwise the peanut butter and marshmallows in my pantry are deductible space.
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