To cover my salary + payroll tax + 401k + health insurance in 2024: $111,000 Other employee payroll should be covered by their own billable hours, and should throw profit for distributions
I need to bill 75 hours per month at $125/hr $9,250/mo To cover business expenses other than payroll: $1,000/mo (8 hrs at $125). Need to bill $10,250/mo
- BioCircuit = 40 x $125 = $5,000
- DS = 25 x $150 = $3,750
- Bio1 = 3 x $75 = $225
- Lena = 3 x $75 = $225
- Espiku = 3 x $125 = $375
- JFT = 3 x 50 = $150
- Ready Trading = 1 x $125 = $125
- Henry = 2 x $75 = 150
= $10,000 Short by $250–additional 3 hrs over standard varies by month
Expected billable hours = 80 About 20/week Another 10/week to non billable business stuff (CPE, creating checklists, hiring—Although don’t do that for a bit unless we will replace Gary in full, web design Although don’t want new clients right now, so lower priority. Making client recorded trainings library.)
For $1,000/mo distribution If charge $75/hr for bookkeeping, profit is approximately $35 29 hours of staff work
Kim’s time—what is profit per hour, if any? 40 hrs - Rebecca’s time—Columns is severely under-priced unless we can reduce hours. I think they have already come down, but to what? I also have been doing minimal work 20 hrs - Manda’s time
Theoretically, should be able to distribute $2,000/mo.
Can I work 30 hours a week and do omscs ? What about when Jack’s school is on break? I can work 9-12, 1-2:30 = 5.5. X 5 days = 27.5, so almost—work on omscs at night, or make up missed work time