Other BYU Sports Blogs
BYU Rugby Forever -
Friday, March 5th 2010 at 9:22pm
The time has come... the tale of two universities continues... the epic rivalry between rugby powerhouses BYU and Utah culminates yet again in the month of May with not one but two match meetings!!!
BYU Rugby Forever -
Monday, March 1st 2010 at 7:50pm
Okay, BYU Rugby fans, we've got a plethora of photos on tap of BYU's recent matches, compliments of BYU Rugby Photographer Paul Meyers!
BCS Busters -
Friday, February 26th 2010 at 9:55am
Part 1 of Profitability left us with this equation -
Profit = (Enrollment Bonus + Residual Income + Fast Start Bonus + Training Bonus + All Other Potential Income Streams) - (Monthly Product/Service Cost - % of Cell Phone - % of Internet - Marketing - Gas)
The second key of calculating profitability is -
2. Understanding the difference between cash and accrual accounting
Now I'm not going to spend a lot of time on accounting here. If you need/want to go into more depth try - http://en.wikipedia.org/wiki/Accrual_accounting
To keep it short cash accounting counts income and expenses as they happen - or when the "cash" actually changes hands.
Accrual accounting takes into account income and expenses when they are incurred.
For example accrual accounting would count income when you enroll a new customer. Cash accounting counts this income when you actually get the check.
So lets look at some accrual accounting in out equation.
Tax deductions are part of your profit even though you don't immediately realize them as cash - its still profit to your bottom line.
The most significant (and easiest to document) deduction is mileage. The deduction for mileage is 50 cents per BUSINESS RELATED mile.
My wife and I drove 600 miles round trip to attend a training and retreat for our home based business last month - that is $300 I get to deduct from my tax bill. While that's not $300 in cash today - it is still $300 profit to my business in real money when I file my taxes. (Ill have a post dedicated to home business tax deductions in the near future)
So our equation continues to grow -
Profit = (Enrollment Bonus + Residual Income + Fast Start Bonus + Training Bonus + All Other Potential Income Streams + Deductions) - (Monthly Product/Service Cost - % of Cell Phone - % of Internet - Marketing - Gas)
Lets take into account one final addition to our equation - the REAL cost of your monthly product or service.
In part 1 we discussed that your monthly autoship, product or service purchase needed to be included in your expenses. Be careful of people who don't take this into account - $500/month is not $500 in profit if you have to spend $200/month in product to qualify for your commissions.
I hope this helps - you can download a Profit and Expense spreadsheet here - http://geoffbeckstrom.com/bizorhobby/
You can contact me thru google voice by using -
I return messages within one business day.
BYU Rugby Forever -
Thursday, February 25th 2010 at 9:55pm
Folks, my apologies for dropping off the radar there for a spell... luckily, BYU Rugby rolls on whether or not the Superfans are in attendance at every match! (Although it could be debated that our mere presence accounts for a few extra BYU tries!) :D
BYU Rugby Forever -
Wednesday, February 3rd 2010 at 12:30am
By Jared McInelly (guest columnist), tight head prop, '99.
BYU Rugby Forever -
Monday, February 1st 2010 at 1:28pm
Ready to Scrum (KCSG.com)
BYU Rugby Forever -
Tuesday, January 26th 2010 at 2:15pm
As I was leaving the Wilkinson Center today, I happened to glance up at the TV monitor to see some highlights of the BYU Rugby team playing in an ad for the 2009 highlight video... I couldn't help but think of the great things that happened over the course of last year's season...
BYU Rugby Forever -
Wednesday, January 20th 2010 at 10:40pm
In an effort to keep every legitimate BYU Rugby fan 'in the know', BYU Rugby Forever introduces the "BYU Rugby Media Blitz", a deluge of current news and media from all over the web featuring content relevant to the BYU Men's Rugby team...
BYU Rugby Forever -
Tuesday, January 19th 2010 at 8:50pm
The new and improved BYU Rugby website is finally here, folks!!! Take a moment, and browse on over to byurugby.com to see all the new features of the site, including the new "Cougar Corner" team blog and "CougarCast" podcasts from Jarom Jordan!
BYU Rugby Forever -
Tuesday, January 19th 2010 at 12:00am
Hey BYU Rugby fans,
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