- 11,995
The question is fairly rhetorical. One of the things about being an insurance agent is that you're running a small business. It can be easy to earn a $1,500 commission and think "I just made $1,500". The reality is that it is rarely the case. Lead costs, travel expenses, etc all should be added into the equation to get a real answer to the question. This can be a major surprise at tax time, especially when taxes need to be paid on what you actually earned.
My suggestion: Open a business checking account and put all of your earnings in it and use it to pay all of your expenses. This can be the simplest way to keep a more accurate idea of how much you're really earning. If you earn a $1,500 commission, you may be surprised by how quickly that is cut into by operating expenses.
So do you know what you made last week? Month?
Hope this helps!
My suggestion: Open a business checking account and put all of your earnings in it and use it to pay all of your expenses. This can be the simplest way to keep a more accurate idea of how much you're really earning. If you earn a $1,500 commission, you may be surprised by how quickly that is cut into by operating expenses.
So do you know what you made last week? Month?
Hope this helps!