As an accounting and legal professional, our hourly rate could be – depending on the case we are working on – averaging between $250-$650/hour. Let’s lowball it and average it to $300 for the sake of this exercise.
So, if you have a not-too-busy month, you are charging about 50% of your 8-hour day. That would take us to 8 hours x 50% x 22 days, equal 88 hours. At the above mentioned $300/hour rate, you are invoicing clients for $26,400. After taxes and paying all the benefits (about 35%), your net is around $17,000. Paying for your office rental, cell phone, office supplies, LexisNexis subscription, and smaller incidental payments (like lunch with clients and such) cost about $5,000. You have about 12,000 left.
Would you consider paying about the equivalent of 3-4 hours of your monthly billable time to make sure your books are taken care of, bills paid in time, bank and credit card statements reconciled, taxes are filed, payroll processed and related taxes filed in time? Also, have immediate access to business consultants, management consultants, HR, web, benefit and WishTeam professionals assisting you (for some additional low hourly or fixed fee) with your related needs as needed?
If so, you are invited to discover what a virtual corporate service group (www.myvirtualcorporate.com) can take off of your shoulder to make you more billable, profitable, and probably happier because you can focus on what you do best. Please let me know if you have questions – I am always here to assist you with making your business grow bigger, stronger, more profitable and competitive. Please email me personally: spacher@myvirtualcorporate.com
So, if you have a not-too-busy month, you are charging about 50% of your 8-hour day. That would take us to 8 hours x 50% x 22 days, equal 88 hours. At the above mentioned $300/hour rate, you are invoicing clients for $26,400. After taxes and paying all the benefits (about 35%), your net is around $17,000. Paying for your office rental, cell phone, office supplies, LexisNexis subscription, and smaller incidental payments (like lunch with clients and such) cost about $5,000. You have about 12,000 left.
Would you consider paying about the equivalent of 3-4 hours of your monthly billable time to make sure your books are taken care of, bills paid in time, bank and credit card statements reconciled, taxes are filed, payroll processed and related taxes filed in time? Also, have immediate access to business consultants, management consultants, HR, web, benefit and WishTeam professionals assisting you (for some additional low hourly or fixed fee) with your related needs as needed?
If so, you are invited to discover what a virtual corporate service group (www.myvirtualcorporate.com) can take off of your shoulder to make you more billable, profitable, and probably happier because you can focus on what you do best. Please let me know if you have questions – I am always here to assist you with making your business grow bigger, stronger, more profitable and competitive. Please email me personally: spacher@myvirtualcorporate.com
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