Видео

Occasionally I do. Check out babolearning.com there is a form there or shoot an email to tammy@babolearning.com - Tammy

thank you.... Tammy

Thanks! - Tammy

Glad it was helpful! - Tammy

I appreciate it. - Tammy

that is great to hear. My goal is to help break things down for anyone to understand business numbers. :-). - Tammy

thanks! I appreciate it - Tammy

Ah, thank you. :-). - tammy

thank you! I think that is one reason I took the couple of weeks off for content. I knew I wouldn't show up the way I needed to. - Tammy

Thank you. I appreciate it... Tammy

Glad to be back and thank you. - Tammy

Ah, thanks. I know he will! - Tammy

Thank you. :-). - Tammy

I missed all you guys! - Tammy

I will probably be hiring a pro to help me with this stuff - maybe your business- but I need to earn some money first to do that and I don't want to screw everything up

If you are a solo LLC you are considered a pass-through entity. You would be taxed on any profits the business makes which will include the money you take out (since normally you would pull from the business profits). Obviously, a tax professional is who you want to speak to, but basically that is how it works. Hope this helps. :-). - Tammy

​@@BadassBusinessOwnersthank you

It is a great business! Good luck! - Tammy

Ah, thanks! Glad they are helpful! More to come soon! - tammy

Yes. Your shipping suppies would be COGS and technically the labor hours assemble it all would be as well. - Tammy

@@BadassBusinessOwnersokay thank you so much I appreciate your response & educating videos.

Since you have to prepare them to be used, yep, you could count that as COGS :-) - Tammy

Here is another video where I talk about that piece: ruclips.net/video/--cGU3vEXO8/видео.html

Glad they help! - tammy

Glad it helped! :-). Tammy

glad it helped! - Tammy

@@BadassBusinessOwners big time

Sorry I didn't see this. It has your comment held for review. :-( - Normally a cancellation isn't a loss on the P&L but if you took their money, then you had to refund the money, you would show income in, then you would have a category for refunds. So the income in might show $100 then your refunds would show $100. I hope that makes sense. - tammy

thanks!

Glad it helped! - Tammy

Are you looking to use Excel or something? that type of template?

Links to reach out are in the shownotes. :-). tammy

Excellent point! You need to protect every sq in and how much money it can make for you! There is a reason big box retailers pay so much attention to the endcaps of the aisles in their stores! thanks for watching! :-). - tammy

I love how you use real-life examples like peanuts. It’s helping me expand my perspective

LOL It. It's your dirty mind that isn't. 😋

Love this! Remember, you are learning the story your numbers are telling you. When we relate numbers to a story,it all makes sense. Just like if you cut a pie into 8 pieces you didn't even realize you just figured out 1/8th of the pie or 12.5%. You just know I need 8 pieces and subconsciously do it. You got this! - Tammy

On the P&L everything is a percentage of sales. So if your sales are $10,000 you would take wat tiver category and just divide it by those sales. For example, if you spent $600 on advertising and want to know the percentage you would take the 600/10000 and get .06 which is 6%. (move decimal 2 spots or mulitply by 100)

Thanks!

I'm the same way. I usually take the blame most of the time. I either failed to train them, set clear expectations or to hold them accountable. Great points! - Tammy

Thanks! Glad it helped! - Tammy

While your plan works for those that are not in need of a paycheck and will work for some folks, most people need to take at least their "employee" type wage out to survive. Many should leave the "owner" wages in the business to grow the business. The mistake is, people assume the money they take out now is for the owner when in reality, the first funds they pull out are the labor wages they should be charging as part of their pricing. But yes, some folks have the ability to reinvest all their funds, others are not able to do that. So one size doesn't fit all. - Tammy

Glad you enjoyed it - Tammy

Hey there. I might be misunderstanding the question. You should be capturing all business expenses. If you mean would I capture owners' pay for "employee" time? I like that idea personally. How you do it will depend on your business entity. But say you are a solo DBA or solo LLC where it all passes through to you anyway. You could have any money you would typically "pay" an employee so you can see what the true cost of goods would be and then any owner pay as the owner draw. Just remember, that any money you take out is technically all owner's draw. But you are just trying to get your true COGS so you can price correctly. (S Corps and Corps) already take a fair wage. Hope this helps.