Donations Are Considered More Honarable
Over the years, I have noticed a mindset that people believe it is better to receive a gift or donation rather than earning income. I have seen where people explain why they are not taking a commission if you buy. When did it become selfish to work and earn revenue? Why is it so wrong to sell items and why is it the people that own businesses are considered, greedy? I am not sure at what point this lie started, but not all business owners are greedy, and working is honorable. If you did not have business owners, you would not have employers. Someone or a group of people must own the business to create the jobs. If you have a group of employees get together and start a business, they are now business owners. The business owners can be considered employees of their company for tax purposes, but someone needs to own the business.
Earning an income is working for the business owner, and not every business owner can hire employees, but you are still making a living for yourself or yourself and your family. Work is work and does not only have to be under the heading of the employee. You can be a profitable business owner by understanding what you want to offer and how you can offer that product and service, when pricing remember not to only focus on profit. I have seen many business owners earn a profit but have expenses (including their payment or draw) add up to more than what they earned.
Learn more about what it takes to create a fair and profit pricing plan. B&P “Creating A Fair & Profitable Pricing Plan.”
How can you determine the breakeven and cost of goods or cost of services sold? What are those things? Where does payroll fit into this picture and those terms, or is it separate? What about taxes? Avoiding taxes will not work and will catch up with you sooner than later in this economy. Why not create a tax plan that works for you now. Planning will help with keeping most costs low, and no tax is not necessarily a good thing.
Earning an income or charging for your products and services are not greedy. The laborer is worthy of his or her wages. Don't allow anyone to deter you from charging for your services for the for profit business owner. Did you know a non-profit charges for services and products to earn the money to make donations? A for profit can also make charitable contributions but the difference is the owners keep or reinvest the profit depending on your business structure. Learn more about business structures here: "Business Formation: More Than A Name."
Written By: Y. Michelle Coard, B.A.S, A.A.S In Accounting
Accountant, Owner, & Profit Strategist of Business and Personal Accounting Solutions, Corp.
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Learn more about pricing in your business. Pricing for profits is the way to go!