1. Welcome to Taxidermy.net, Guest!
    We have put together a brief tutorial to help you with the site, click here to access it.

What was Today? National Bobcat............

Discussion in 'The Taxidermy Industry' started by pyeager1, Jan 25, 2008.

  1. Kim Owens

    Kim Owens Are we there yet?

    Riverdale- I don't care if my customers get on this site. When they call and price check, and many do, they already heard the $375, $450 and the $700 quotes. Many have even gone to the other shops and looked at the work. I often tell customers a price and tell them to leave their animal at home and go look at each shop and see what all the work looks like. Beauty is in the eye of the beholder. Some we get some we don't but one thing is for certain- we will make money on each and every animal that comes in our shop. We're not doing taxidermy for the fun of it, it's how we make a living.
     
  2. Sooooo...Riverdale, it's okay to charge that much if you have an employee, but if you're doing the work yourself you should charge less? ???
     

  3. Xiahou

    Xiahou Rocky 6/1/05 - 6/5/08

    Personally I wouldn't charge that much at all (and so far no one else either) but If you have an employees to deal with and the clients that would pay it. Like Ive repeated before more power to her. As far as charging less for myself than if I have an employee. Yea. If I have employees I have allot more expenses. If I don't have one I have less I can have the same amount in my pocket when all is said and done with no employee as charing more with an employee.
     
  4. choo choo charlie

    choo choo charlie I feel pretty good for the way I feel

    Sees like to me that some want to get rich and build the retirement account all in one week.
    Takes time to do all this.
    I don't care who you are, who you think you are or who your momma thinks you are I will put my $350.00 Bobcats up against your $700.00 and up cats any day of the week.
    I do good work and I get lots of work because the quality is there.
    So if your customers turn up their nose at the price you charge and you want to send them down the road to the "cheap" guy, my e mail address is listed.
     
  5. Greg Waite

    Greg Waite Active Member

    You guys are missing the point. Your business is a business and your business. We are just trying to show you how other business' that are successful are doing it.

    If you are running a business, in the IRS eyes, then you had better make a profit after a few years or you have a hobby. But if you pay yourself a wage, just like you are working for a business, then you leave the profit in the bank. The IRS is lookign at that as a profit and what you pay yourself as a wage. That profit gives you working capital and opportunities for other things. I know that you think it's a play on words but reality is, it's called business. Take a class or 2, or better yet, talk to a CPA.
    I do pay myself a wage and then leave the profit in the bank. I use that for advertising, hunting trips (also a tax write off), fishing trips (also a tax write off), attending seminars and shows (again TWO), and other things that help advance my business. I also use that money for equipment (tax write off thing again). Another thing is rent, and I work out of a small outbuilding(at my house with electricity and such run from the house) but have to figure rent and utilities because it's nice having my taxidermy work help pay for the house payment and utilities.
    I know that I can't convince you of it and I never will but I didn't figure any of this til my wife started business acountign classes and then working for a CPA. Boy was that an eye opener.
     
  6. Kim Owens

    Kim Owens Are we there yet?

    Choo Choo- the numbers I posted earlier regarding the form, supplies, tanning etc are real numbers. Forget the labor. Please tell me how long it takes you to mount a bobcat, start to finish. That will tell me actually how good your bobcats are.
     
  7. Xiahou

    Xiahou Rocky 6/1/05 - 6/5/08

    really. So why not 'charge' yourself a lesser wage for more 'profit' you'd be paying less tax then according to you.

    So again show me the math if they have 600 from 'wages' on a mount and 10 'profit'. You have 610 in your pocket. You have 610 thats taxed. The other guy has 610 profit and no wages he pays taxes on this If its a simple game of whichever wage or profit has a higher if applicable tax then you would just go extreme one way or the other. I realize all the other stuff equipment etc is a write off thats never been an issue. Lets see some numbers to make this viable. Plus if its coming down to numbers what do you charge for bobcats is it 1050? if not Why not?


    you do realize that is such an openended question its not even funny.
     
  8. Cole

    Cole Amateur Taxidermist

    That's ridiculous. I could spend a week on a bobcat, that doesn't mean it's any good.
     
  9. Kim Owens

    Kim Owens Are we there yet?

    Your wages are tax deductible, your profit is taxed. Where is George when you need him?
     
  10. Henry J.

    Henry J. New Member

    Your wages are tax deductible from your biz. taxes yes . But you still have to pay income tax on it.
     
  11. Xiahou

    Xiahou Rocky 6/1/05 - 6/5/08

    Just called H & R block and for an individual as a personal business , no its all the same. Which is what we've been talking a 1 person business. Not corportate, not multiple people. If you have 600 you give yourself in wages and 10 left over you call 'profit' you still have 610 dollars thats taxed on your federal income taxes. If you charge nothing for wage and have the 610 (just a fake number for example by the way) its taxed the same.
    Also something he said to
     
  12. Kim Owens

    Kim Owens Are we there yet?

    Do whatever you want to do- we're not a one man business. I don't care if you charge $350 or $1050. I'm just glad that we've been blessed with customers who appreciate the value of what they get from us.
     
  13. michael p.

    michael p. Getting better with age :)

    Don't you all realize you cannot argue with a woman!!!!!!!! Jeeeeeezzzzeeee!!!!!! Especially Kim ;D LMAO
     
  14. Kim Owens

    Kim Owens Are we there yet?

    Come on Michael- I don't know it all! But I do know that we make 3 times more on 1 bobcat than some people on this forum. That's what I call business.
     
  15. Xiahou

    Xiahou Rocky 6/1/05 - 6/5/08

    Seems you just put down everyone elses quality to price ratio on here. So you wait till this late to mention that more than one person is involved, yet over and over the examples given were stated for 1 by all parties involved. ok whatever. Still stands that an INDIVIDUAL one person business owner non coroporate can call it a wage call it a profit write it off for business (still taxable as under your income) the irs calls it taxable. Per CPA H & R Block.

    I give you win. You charge 2-3 times more than the rest of those that posted quality nonwithstanding. You are blessed your customers haven't caught on. But hey as long as you can do it and they are happy I suppose no one can fault you at all.

    I think Michael nailed it, though partially.
    You can, but ususally the words get changed. Its like a t-shirt my wife has. "You have no right to remain silent anything you say can be held against you and changed to fit my needs"
     
  16. Kim Owens

    Kim Owens Are we there yet?

    Riverdale- it makes no difference that we have 1 employee. I have read your tacky comments throughout this post and not said anything against you. I did not put down anyones price to quailty. One person mounts bobcats in our shop, one. Fact of the matter is this: most taxidermists are lousy business people. I don't care what H & R Block says, I pay income tax on what is left after my deductibles are subtracted out. Labor is a deduction. Maybe I should give you the name of my accountant.
     
  17. Greg Waite

    Greg Waite Active Member

    michaelp - I don't need to argue with this one, she's right. Can't believe I said that, but it's true. My accountant would have a field day with this stuff. He'd be able to retire on just trying to get people to understand that it is a business and should be run as such.
     
  18. Xiahou

    Xiahou Rocky 6/1/05 - 6/5/08

    name nothing 308-234-2310 give em a call.

    What you just said changes the entire focus of what happend. Time and time again I said for 1 person no employees and you didn't change it. You wait till now to say something that you have an employee doing it. Which before I said if you had an employee doing it yes its tax deductable.

    You charge 1050. Others charge much less. If quality is not an issue your prices are very very high to others. Thats all thats been said. Labor to your employee is a deduction thats never been an issue. In fact until your last post an employee was never mentioned in fact over and over it was stated that this was for a one person show.

    No where was quality an issue. I am trying to keep it out of it. I finally mentioned it because I can't figure out if many credible taxidermist are charging substantially less (everyone so far thats posted) what you are offering to justify so much an increase over them besides - because you can and are blessed with customers. Thats great. Again for the thousandth time Its impressive you can. No one is faulting you for taking them for as much as you can. IAs someone who still has to refer mounts and hears from hunters and trappers that I am not comfortable doing yet. What makes someone want to go to you to pay that over others charging that much less since as we both agree quality is not the issue being discussed.

    Greg its great you have an accountant but until one or both of us posts the form or schedule saying as much. I provided at the very least the phone number to call them and ask what I did. A person running a business with 0 employess if they give themself a wage is it tax deductable?

    Answer - No, they still pay it as income. They can deduct it from the business but end up paying the income from it.

    So if they charge no wage or a wage they still pay the same % on the same money.

    Answer - yes.

    Give them call.

    heres a link to maybe your CPA can loophole this one remember one person this is for and has always been about. She out off this issue now due to it going from 1 to 2 then 3 people involved. This is for a one person self employed business - http://www.irs.gov/businesses/small/article/0,,id=98846,00.html#1
     
  19. michael p.

    michael p. Getting better with age :)

    I'm just giving Kim a hard time :) :)
     
  20. In my opinion there isn't anybody worth 60.00 an hour.I don't give a rats a$$ who it is or what you do.This mindset is why everything is so damn expensive.