May 30, 2023
Right. Sorry. From a purely business perspective, if you have an hourly rate, the profit is only the remainder that stays in the business and doesn’t get paid out as salary. Some might assume you made x amount and after all investments and salaries paid (even if it’s just the business owner’s salary), you’re still left with 8K. Say for instance you made 28K, you paid yourself a 20K salary based on the hourly rate, then the rest is profit.
Sorry, nitpicking. 🙂