Estimated Gross Income

**BeemerBMW** · 08-09-2007 04:48 PM

I am filling out my business license application and I just cannot understand how a retail business should have to estimate their projected gross income by tax-paying next year.

What am I supposed to do?

I can't get all of the part's prices for wholesaling without having a business license.

The business industry needs some revamping IMO. There's no list of things to do first, and it seems like a lot of things you need you can't get without this one thing, and without this one thing, you can't get another thing that you need in order to get the one thing.

I'm getting a headache.

**radreality** · 08-09-2007 05:43 PM

Originally Posted by BeemerBMW

The business industry needs some revamping IMO. There's no list of things to do first, and it seems like a lot of things you need you can't get without this one thing, and without this one thing, you can't get another thing that you need in order to get the one thing.

Don't get to frustrated over it. This is only the first phase of how the business industry weeds out the weak players.

The figure doesn't really matter. A rough estimate of what you can see the company doing is just fine. Most states use this figure to determine how many times a year you need to report. Its not the end of the world. I think its safe to assume that 98% of people put down figures that are way larger than what their actual revenue ends up being.

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**Cole Taylor** · 08-09-2007 08:27 PM

LOL what you think you're going to snap your fingers and everything's going to fall in place? WTF man, you just started and you're on the easy stuff and getting frustrated? It's called work for a reason.

If you want a step by step guide buy a franchise or do MLM. Also, if you dont have a good idea of what you expect your sales to be you've already failed the planning part. Go back and revamp. Ever heard the saying "failing to plan is planning to fail?"

**BeemerBMW** · 08-09-2007 10:24 PM

Originally Posted by Cole Taylor

LOL what you think you're going to snap your fingers and everything's going to fall in place? WTF man, you just started and you're on the easy stuff and getting frustrated? It's called work for a reason.

If you want a step by step guide buy a franchise or do MLM. Also, if you dont have a good idea of what you expect your sales to be you've already failed the planning part. Go back and revamp. Ever heard the saying "failing to plan is planning to fail?"

I know the steps, however it's pretty pathetic that it takes going to speak to about 4 people and doing research online and through email with those people (who consulted other people) just to find out the steps.

You can't plan sales for a start-up retail. Anything that resembles a financial projection for profit and income is purely guessing.

**BeemerBMW** · 08-09-2007 10:26 PM

Originally Posted by radreality

Don't get to frustrated over it. This is only the first phase of how the business industry weeds out the weak players.

The figure doesn't really matter. A rough estimate of what you can see the company doing is just fine. Most states use this figure to determine how many times a year you need to report. Its not the end of the world. I think its safe to assume that 98% of people put down figures that are way larger than what their actual revenue ends up being.

Thank you for the reply. You were very helpful.