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Monthly Expenses

Discussion in 'Business Fundamentals' started by Hoss4x4, Sep 5, 2011.

  1. Hoss4x4

    Hoss4x4 Member
    from FL
    Messages: 34

    Please help me with my list of monthly expenses. I want to work out my budget before taking a leap. I want to be very realistic. Any advise on how you budget would be great. In the winter when you plow, do you bill 8 hours a day on average? I know you will work more some days then others.

    Short term disability
    Long Term disability
    Term life Insurance
    Medical Insurance
    Dental and Vision
    General libility
    Workers comp
    Auto insurance
    cell phone(business phone)
    Internet
    Office supplies
    Fuel
    maintenance
    repairs
    Marketing


    Anything else I am missing?
     
  2. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    You forgot to pay yourself!
     
  3. CS-LAWNSERVICE

    CS-LAWNSERVICE Member
    Messages: 79

    It seems I always forget that part also come end of the week ,Think I made money for the business and find out I did not pay myself
     
  4. Hoss4x4

    Hoss4x4 Member
    from FL
    Messages: 34

    Added that to my list. Ha, hard to pay my personal bills if I didn't pay myself.
     
  5. wideout

    wideout Senior Member
    from iowa
    Messages: 727

    Your location says FL isnt that Florida? how much snow you get there?
     
  6. Hoss4x4

    Hoss4x4 Member
    from FL
    Messages: 34

    Very little......ha

    I am putting together a business plan so I can be with my friends and family again in Michigan. My work keeps moving further away. The money is good but I can't take it to my grave. I want to be sub for a year or two to gain experience. Just want to be realistic with costs.
     
  7. wideout

    wideout Senior Member
    from iowa
    Messages: 727

    LOL ok makes sense now
     
  8. MidcoastMainiac

    MidcoastMainiac Member
    Messages: 95

    Equipment replacement fund-electricity-food-lawyer-tax accountant-corporation fees if you incorporate(highly recommended)

    You can do with out workers comp unless you have employees. Owners are exempt unless who you contract with requires it.
     
  9. Hoss4x4

    Hoss4x4 Member
    from FL
    Messages: 34

    What is the advantage from LLC to incorporated? I was thinking about LLC.
     
  10. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Check with your lawyer.
     
  11. MidcoastMainiac

    MidcoastMainiac Member
    Messages: 95

    The way it was explained to me was that if I was investing my company's money to start your business, then we would be forming a LLC to protect my business from your business. An S-corp is more for the self propriorter. C-corp is for big business.

    But as Grandview stated check with a lawyer and/or tax accountant as to what fits your needs the best.
     
  12. NickT

    NickT Senior Member
    Messages: 707

    Subscribed.....
     
  13. dsteinfe

    dsteinfe Junior Member
    from Canada
    Messages: 2

    Estimating $ for budget

    Can anyone help me put some dollar amounts to these expenses?

    Thanks,

    Dave