Closing Time

Taking one to the closing table today.

Glad for that as I get my commission check when I close. Notice I said, "Commission check."

That's because I do not get a paycheck.

I get a commission check which goes into my business as a paid. Of that paid amount I feed the Mother Ship, the fees to the brokerage house (rents). I pay the funds that fuel my business: Advertising, Insurances, Car, Marketing/Promo; then and only then, I get to pay myself. I like bar charts for this. This is how I have my business set up so at tax time I can go through all these titles and see what is costing me what. After a year or so, I can see if insurance companies are raising rates and look at different policies. I can look at fuel/car issues and see how uneconomical my Lincoln has become so I can start the "new ride" funding.



I have continued education funds, vacation funds, upkeep funds. They get fed when commissions come in. I do lots of graphs.

I have future business plans funds. I have dream funds. I like pie charts for these. All fed by commission checks.

Not a great deal different from when I collected a paycheck except all these funds get referenced with whether or not they are tax deductions for my business.

Paychecks. FICA and taxes are taken out.

Commission checks. FICA and taxes are my responsibility. One I do not take lightly, one that takes a lot of planning and oversight. I am a small business.

This is not my first foray into small business ownership. I owned a catering company in Anchorage. I owned a drywall finishing business for a while when I first came home to SoIL. The ache in my right thumb pretty much sidelined that business. (I broke that thumb twice so it is full of pain.)

I minored in accounting in college. Worked as an account's clerk - a job I hated but I loved the old dude (Mr. L) who owned the place.

My own books are set up a lot like all those in Mr. L's office. I did learn stuff while working for him -- he also taught accounting at the local junior college.

So....yeah.

I'm good with money. It isn't a issue for me. Unless you refer to my commissions as a paycheck.