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looking for financial advice -off farm job
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<blockquote data-quote="m&amp;amp;kCattle" data-source="post: 809972" data-attributes="member: 9124"><p>How do you know the 10 - 15% is there? IMO with a business you take 25% off top for taxes, keep an emergency fund for breakdowns and losses, pay all expenses, reinvest into business, and then whats left you write yourself a check to take home. If that happens to be 10 - 15 % great. If it is only 3 % then that's what it is. If you take 15% and its really only 3% you set yourself up for a surprise, and not the good kind. Another piece of advice would be to make sure you have no debt before you consider it. Might not be advice some like to hear but it is well worth it.</p></blockquote><p></p>
[QUOTE="m&kCattle, post: 809972, member: 9124"] How do you know the 10 - 15% is there? IMO with a business you take 25% off top for taxes, keep an emergency fund for breakdowns and losses, pay all expenses, reinvest into business, and then whats left you write yourself a check to take home. If that happens to be 10 - 15 % great. If it is only 3 % then that's what it is. If you take 15% and its really only 3% you set yourself up for a surprise, and not the good kind. Another piece of advice would be to make sure you have no debt before you consider it. Might not be advice some like to hear but it is well worth it. [/QUOTE]
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