you said your home is worth 500k and the porsche at 130k, but are both of them paid off? If both of them are paid off then they are assets, otherwise only the part that's paid could be considered worth but on a house the first 10 years you pay only interest so perhaps you have no equity yet in the house.
When your mom and dad died did you have their will probated and their bills paid? And are there any liens on the house?
Well a lot of businesses fail within the first 5 years after startup so you've just begun to make a profit. It doesn't matter how much you brought in, the question is how much did you pay out, and then the balance between the income and expenses "might" be considered worth. You might not be able to figure in the invested part you'd have to ask ykour cpa.
Yeah, well attorneys and doctors and such grab a crew of guys (who would rip out walls and remodel and refurbish), then they'd be friends with realtors who would send them lists before everyone else knows those homes are for sale, and then they'd refurbish them and sell them at a "small" profit...it's called flipping. Anyway, you might be buying those houses on the stairs of the courthouse to get bargains so you'd need to have liquid cash to buy them up on the spur of the moment with a cashier's check probably. Know that because of the 2008 mortgage fiasco there were probably 6 states that had a lot of foreclosures and flippers have been buying those up fast. If you need help with knowing what you're worth perhaps contacting the cpa is your best bet.
How much you are worth is how much you have in savings,stocks and shares
Your home is maybe worth a certain amount, but you need somewhere to live, so I wouldn't count it as 'worth' as such unless you plan to sell it and live in a tent.
Your business grossed a certain amount, but what was the net profit and where is that net profit,
in a bank account or invested elsewhere?
Your car is only worth what money you would get if you sold it, second -hand value.
Ask your accountant if you need all this clarified.
No one knows until you're up for ransom. If you mean what's your net worth, you left out some critical details. It's great that you paid $130K for the car but, the common factors for valuing one are age, mileage, and condition.
I don't recognize the "Brought in," accounting term. Did the company make $620k in profit? Gross revenue? Net revenue?
You also left out any details on your debt situation.
Use Quicken to get a handle on your financial situation.
You are worth about 2 million. If you're going to go into "reality", as you put it, you may discover the truth to the old adage that the best way to make a small fortune in realty is to start with a large fortune.
Net worth is a simple calculation: what you own minus what you owe. So, take the value of all of the things you own and subtract the total of what you owe. Current income and expenses have nothing to do with it.
If you can't figure out what you ask, I doubt that anything you say is true. Your question makes me doubt you own your own business and have the where with all to run anything. I think you are a troll.
Gee, all that money and you can't even add. Sad. One good thing though - you mention that you're planning to go into reality soon. Would be a good idea for you to go into reality.
your worth as much as you don't care to brag about.
once you factor in how much is owed on the car and how much is owed on the house, then total up the amount, since you didn't say if you have a loan or loans out on the house and on the car
to me not a dime couldn't care less I don't work for you I don't know you I don't need you so you aren't worth a dime
