Painter1 Posted January 20, 2013 Report Share Posted January 20, 2013 I recently read on this forum about markup considerations for taxes. I have also been working with my nephew lately regarding his charge rates related to his business. I learned these facts the hard way and hope the following is useful to someone. If you use markups in your business, please be aware of the following; $100 marked up 10% is $110.00. (your sale price) . You owe (someone) 10% of your sales so you must pay $11.00 You marked it $10 to cover your expense but you must actually pay $11 Mark the item up $11.11 per hundred to cover a 10% of sales expense Mark the item up $17.65 per hundred to cover a 15% of sales expense Mark the item up $25.00 per hundred to cover a 20% of sales expense 1 Quote Link to comment Share on other sites More sharing options...
