Salary ?? - Business - Contractor Talk

Salary ??

 
Thread Tools Search this Thread Display Modes
Old 05-28-2017, 03:52 PM   #1
Pro
 
Dave Mac's Avatar
 
Trade: Painting Contractor
Join Date: Jan 2006
Posts: 603
Rewards Points: 688

Salary ??


those that file as a s corp, what type of salary have you allowed yourself, I am not talking about distributions only salary? I am hearing many different views on this from different CPA's and contractors. anywhere from 18,000 to 50,000. If you care to share or PM me it would be greatly appreciated, just trying to change some things in my business structure and exploring different options. TIA
__________________
www.davemacspowerwashing.com
Dave Mac is offline  

Warning: The topics covered on this site include activities in which there exists the potential for serious injury or death. ContractorTalk.com DOES NOT guarantee the accuracy or completeness of any information contained on this site. Always use proper safety precaution and reference reliable outside sources before attempting any construction or remodeling task!

   

Advertisement

 

Old 05-28-2017, 03:57 PM   #2
Member
 
Bambamm511's Avatar
 
Trade: Roofing
Join Date: Jan 2014
Posts: 46
Rewards Points: 96

Re: Salary ??


Quote:
Originally Posted by Dave Mac View Post
those that file as a s corp, what type of salary have you allowed yourself, I am not talking about distributions only salary? I am hearing many different views on this from different CPA's and contractors. anywhere from 18,000 to 50,000. If you care to share or PM me it would be greatly appreciated, just trying to change some things in my business structure and exploring different options. TIA
You should take a reasonable amount for what your job duties are.

Sent from my SM-G930V using Tapatalk

Advertisement

Bambamm511 is offline  
The Following 2 Users Say Thank You to Bambamm511 For This Useful Post:
Dave Mac (05-28-2017), eastend (05-29-2017)
Old 05-28-2017, 04:00 PM   #3
Pro
 
TxElectrician's Avatar
 
Trade: Electrical
Join Date: May 2008
Location: Central Texas
Posts: 7,704
Rewards Points: 14

Re: Salary ??


I pay myself a reasonable salary in relation to my sales. My salary far outweighs any distributions I take.
TxElectrician is offline  
The Following User Says Thank You to TxElectrician For This Useful Post:
Dave Mac (05-28-2017)
Sponsored Links
Advertisement
 
Old 05-28-2017, 04:26 PM   #4
Pro
 
Dave Mac's Avatar
 
Trade: Painting Contractor
Join Date: Jan 2006
Posts: 603
Rewards Points: 688

Re: Salary ??


what type of percentage are you guys talking about 50%salary 50% distribution
__________________
www.davemacspowerwashing.com
Dave Mac is offline  
Old 05-28-2017, 04:34 PM   #5
Geometrist
 
Warren's Avatar
 
Trade: framing/remodeling
Join Date: Feb 2005
Location: NE Ohio
Posts: 10,451
Rewards Points: 2

Re: Salary ??


Quote:
Originally Posted by Dave Mac View Post
what type of percentage are you guys talking about 50%salary 50% distribution
I don't base mine on a percentage. I view it as "What would I have to pay someone with similar experience to do the work that I now do. I typically work about 35 hours per week in the field, and probably 10 to 12 in the office or looking at jobs.

In a good year, my salary and distribution can be pretty similar. In a bad year, my salary is usually quite a bit higher than my distribution. I know that they will allow you to reduce your salary during downturns in the economy, but for me, I prefer to just keep it constant.
Warren is offline  
The Following 7 Users Say Thank You to Warren For This Useful Post:
Bambamm511 (05-28-2017), Dave Mac (05-28-2017), eastend (05-29-2017), Jaws (05-28-2017), overanalyze (05-28-2017), sparehair (05-28-2017), TxElectrician (05-28-2017)


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What is a standard salary for a residential project manager in Virginia? JasonVA General Discussion 9 02-21-2015 02:46 PM
Salary Jaws General Discussion 35 01-20-2013 11:13 PM
Negotiating a salary carp.780 General Discussion 12 01-19-2013 10:58 PM
Salary CScalf General Discussion 25 06-27-2009 11:06 AM
Salary vs hourly wage Stevelsc8721 Business 10 11-30-2008 04:42 PM

Join Now... It's Fast and FREE!

I am a professional contractor
I am a DIY Homeowner
Drywall Talk is for
PROFESSIONAL CONTRACTORS ONLY!

At DrywallTalk.com we cater exlusivly to professional contractors who make their living as a contractor. Knowing that many homeowners and DIYers are looking for a community to call home, we've created www.DIYChatroom.com DIY Chatroom is full of helpful advices and perfect for DIY homeowners.

Redirecing in 10 seconds
No Thanks
terms of service

Already Have an Account?