So, my year is wrapping up. I thought I would share some of my end of the year thoughts. I am pretty much done for the year (barring surprises) and my year shook out about like this.
Total Receipts: Down 26%
Expenses directly related to invoices: Down 36% (more labor sales less equipment sales)
Gross Profit: Down 10%
Deductions: Up 211% (made some significant investments in the business this year)
Estimated Taxes: Down 58%
Net Profit: Down 45%
Wow, the economy is killing everyone. I had several clients cancel large projects, and a few others cancel contracts. I have some contracts expiring at the end of the year, so that it looks like my profits will be down another 30%-40% next year.
Ugh
Mike
Total Receipts: Down 26%
Expenses directly related to invoices: Down 36% (more labor sales less equipment sales)
Gross Profit: Down 10%
Deductions: Up 211% (made some significant investments in the business this year)
Estimated Taxes: Down 58%
Net Profit: Down 45%
Wow, the economy is killing everyone. I had several clients cancel large projects, and a few others cancel contracts. I have some contracts expiring at the end of the year, so that it looks like my profits will be down another 30%-40% next year.
Ugh
Mike
Here's to 2010...