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TOPIC: Nice AFJ Article by Esco Buff

RE:Nice AFJ Article by Esco Buff 20 Dec 2010 14:43 #16

  • tbloomer
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Western Hill Forge wrote:
Perhaps the most important part of the article is to get us to understand exactly what our expenses are, so that we will make informed decisions in trying to control them.

Regards
Agreed.

Sometimes I think we may be in denial about our real costs of doing business. LOL!

Recently I reviewed my business plan with due consideration to whether or not to remain an S-Corporation. I had to seriously look at whether or not the extra time (mostly accounting and taxes paperwork) involved was worth the annual tax savings.

Having gone through the review, I was pleased that my original decision to incorporate in '05 is still justified in this current economy. AND, having gone through 5 tax seasons as a corporation, I no longer need the services of a CPA for tax preparation and filing. So this year I saved several $thousand with that expense eliminated. In effect, I paid myself the money I would have paid my CPA. OTOH, I can't imagine how anyone can do accounting for a living even if it does pay $150/hr, YUCK!
Tom Bloomer
http://blackburnforge.com
302-222-6404


Here's the deal. I'm trying to keep it simple.
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RE:Nice AFJ Article by Esco Buff 20 Dec 2010 19:24 #17

tbloomer wrote:
WOW!

Chester County Farrier Associates must be devastated by this competition. :rolleyes: :D

what I do know is that one of the biggest TB broodmare farm has had to go to this extreme for the trims; since they have over 200+ from what I have been told by the platers at fair hill; since they were trimming there; and one of the regular guys use to trim there at $35 a horse.
But they still pay up to $120 to have a horse plated if is going to the track.
they are selling off some stock.

what it has done tom is hurt the regular working farriers in this area.

linda
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RE:Nice AFJ Article by Esco Buff 21 Dec 2010 05:45 #18

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ladyblacksmith wrote:
Agreed; what we NEED to charge; and what we CAN charge are two different things; and with this economy; it is just getting worst.
And now they almost raised the taxes on the small business owner; if they hadn't extented the Bush tax cuts for the next two years.

We are now "down!" to $10 a trim; and $28 for 4 new shoes with drill tec from some of the Amish in S. Chester co. where I live. Price wars between the amish here now.


linda muggleworth

I can't buy a rod of drilltech for 28 bucks....
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RE:Nice AFJ Article by Esco Buff 21 Dec 2010 05:58 #19

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Horshure wrote:
I can't buy a rod of drilltech for 28 bucks....

Anvil Brand Shoe Co. $13.05 a stick, $12.40 ea if you buy 10. ;)
Clint Burrell

"You say your from collage,
but you don't seem to bright.
You just brought a swichblade
to a pistol fight"
Move On by Chris Knight
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RE:Nice AFJ Article by Esco Buff 21 Dec 2010 17:19 #20

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And please don't forget to tell them where you found out about it!

Baron Tayler
“Suppose you were an ******. And suppose you were a member of Congress. But I repeat myself.”
- Mark Twain

“There is no distinctly native American criminal class... save Congress.”
-Mark Twain

“No man's life, liberty, or property is safe...
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RE:Nice AFJ Article by Esco Buff 21 Dec 2010 20:33 #21

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Cyber Farrier wrote:
And please don't forget to tell them where you found out about it!

Baron Tayler

:confused: My catalog? :confused:
Clint Burrell

"You say your from collage,
but you don't seem to bright.
You just brought a swichblade
to a pistol fight"
Move On by Chris Knight
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RE:Nice AFJ Article by Esco Buff 22 Dec 2010 00:16 #22

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I was "speaking" to Horshure....

Baron Tayler
“Suppose you were an ******. And suppose you were a member of Congress. But I repeat myself.”
- Mark Twain

“There is no distinctly native American criminal class... save Congress.”
-Mark Twain

“No man's life, liberty, or property is safe...
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RE:Nice AFJ Article by Esco Buff 22 Dec 2010 16:00 #23

Horshure wrote:
I can't buy a rod of drilltech for 28 bucks....

amsterdam blacksmith supplies; drill tex @ 14.70 per stick.
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RE:Nice AFJ Article by Esco Buff 22 Dec 2010 17:56 #24

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ladyblacksmith wrote:
amsterdam blacksmith supplies; drill tex @ 14.70 per stick.

I live in Canada...It is gonna be double the cost after shipping.
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RE:Nice AFJ Article by Esco Buff 23 Dec 2010 04:19 #25

One of my friends tells me its not what you make its what you save at the end of the year (put in the bank). Who really has more at the end of the year. The guy that makes 120,000 a year and only puts 5,000 in savings. Or the guy that makes 60,000 and puts away 20,000 into savings .
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RE:Nice AFJ Article by Esco Buff 23 Dec 2010 22:39 #26

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clearthinkingone wrote:
One of my friends tells me its not what you make its what you save at the end of the year (put in the bank). Who really has more at the end of the year. The guy that makes 120,000 a year and only puts 5,000 in savings. Or the guy that makes 60,000 and puts away 20,000 into savings .

Who has more fun? It's all about priorities.
Jay Mickle
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RE:Nice AFJ Article by Esco Buff 24 Dec 2010 21:31 #27

clearthinkingone wrote:
One of my friends tells me its not what you make its what you save at the end of the year (put in the bank). Who really has more at the end of the year. The guy that makes 120,000 a year and only puts 5,000 in savings. Or the guy that makes 60,000 and puts away 20,000 into savings .

you still have to pay taxes on it and then again if not properly invested.
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RE:Nice AFJ Article by Esco Buff 27 Dec 2010 18:28 #28

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Don't know if it was a business plan as much as a retirement plan, but something called "multiple streams of income" - there's a book by that name. I'm now more or less retired, income from two retirement funds, social security, a bit of shoeing, part time teaching at the local University, some rental and ranch income. Looking at a graph I made 15 years ago, I'm right on target although some individual streams (stock market didn't treat me as I expected) are up or down, the total is quite comfortable. Everything I have is paid for.

Probably sell the ranch in about three years and really cut back.
Jack Evers CJF AFA#426

The best things about the good old days -- I wasn't good and I wasn't old.

The older I get, the more horses I shoe, the fewer things that I can absolutely, positively fix.
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