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As a business owner, chances are you are going to require the use of a business credit card. It is not a wise choice to use personal credit cards for expenses your business has, as you are required to be keeping your personal and business expenses separate.

There are several to choose from, but one of the top issuers of small business credit cards is Citi with their Citi Business cards. If you use a CitiBusiness small business credit card, you are using a credit card that is tailored to the business owner.

With the ability to get additional credit cards for employees, and determine the credit limit for each card, CitiBusiness puts you in complete control of your finances. Their cards come with online account management that gives you the ability to view card activity, view statements, add employees, and otherwise manage your CitiBusiness account.

If you are looking for business credit card cash back, CitiBank may have exactly what you need for your business. They often times have deals that give you low, or no, introductory rates of interest for purchases or balance transfers for a given length of time. With these deals, you can really get in control of your finances without having to pay interest.

CitiBusiness offers business credit cards that come with rewards program. This means that you earn a given number of points for every $1 you spend with your business credit card. The choice of how to redeem points is up to you. They give you several options so that you are not stuck with just one choice.

Every business has the need for a credit card, so it is a wise decision to make use of a credit card that is specifically intended for business use. The CitiBusiness credit cards make a great choice as far as small business credit cards are concerned. They offer some useful benefits for the entrepreneur, so they should be at the top of your list.

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The Economic Stimulus Act of 2008 was signed into law on February 13, 2008.  The Act is intended to stimulate consumer spending in 2008, and features taxpayer rebate checks for more than 130 million individuals, as well as increased small business expense and depreciation limits, and increased loan limits for Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA).

Rebate checks

The Act includes a refundable recovery rebate credit for 2008. Even though this credit is a 2008 tax credit, starting in May 2008, rebate checks will be issued based on 2007 tax return data.  The credit is computed with two components: the basic credit and the qualifying child credit.

Eligible individuals are generally entitled to a basic credit equal to the greater of:

• Net income tax liability (generally, total tax liability less nonrefundable tax credits other than the child credit) up to $600 ($1,200 in the case of a joint return)
• $300 ($600 in the case of a joint return) if an individual has either (1) a minimum of $3,000 in earned income.  Social Security benefits, and veterans’ disability payments; and gross income greater than $8,950 for single individuals and married individuals filing separate returns.  $17,900 for married individuals filing a joint return.

If you’re eligible for any portion of the basic credit, you may also be eligible for a credit of $300 per qualifying child. In general, you’re eligible to claim a $300 credit for each child who:

• Qualifies as your dependent, and
• Is under age 17 (and will not reach age 17 in 2008), and
• Is your son, daughter, stepchild, sibling, stepbrother, stepsister, or a child or grandchild of one of these individuals

Higher income limitations

The recovery rebate credit is phased out for individuals with higher incomes.  Specifically, your total rebate credit (the sum of both the basic credit and any qualifying child credit) is reduced by 5% of the amount by which your adjusted gross income (AGI) exceeds $75,000 ($150,000 if you file a joint return with your spouse).

For example, a married couple filing a joint return with two qualifying children is potentially eligible for a total rebate credit of $1,800 ($1,200 basic credit and $300 per qualifying child), assuming their net income tax liability is at least $1,200. If the combined AGI of the couple is $160,000, however, they will be entitled to a credit of only $1,300 (their AGI exceeds $150,000 by $10,000; 5% of $10,000 is $500; $1,800 - $500 = $1,300).  If the combined AGI of the couple was $186,000, they would be entitled to no rebate credit at all.

Assuming that you’re otherwise entitled to the full basic credit, your total rebate credit is limited (or phased out entirely) according to the following AGI ranges:

Rebate checks: Other considerations

• When you file your 2008 federal income tax return in 2009, you’ll reconcile the amount of the credit you’re entitled to with any rebate payment you’ve received.  If it turns out that you’re actually entitled to a larger credit based on your 2008 tax return, you’ll get the difference as a tax credit.  But, if it turns out you should have received less than you got as a rebate check, you won’t have to pay back the difference.
• The IRS has announced that rebate checks will be mailed out beginning in May, and payments will continue through the spring and summer.  Rebate checks will be directly deposited if you select that option on your 2007 federal income tax return.
• If you file your 2007 federal income tax return after April 15 (even if you file a valid extension), you will receive your payment later.
• The Department of the Treasury will not issue checks after December 31, 2008.

Other provisions included in the Act

Section 179 expense elections for small businesses

Small businesses may elect under Internal Revenue Code (IRC) Section 179 to expense the cost of qualifying property rather than recover such costs through depreciation deductions. Prior to the Act, the maximum amount that a business could expense for 2008 was $128,000 of the cost of qualifying property placed in service for the taxable year.  The $128,000 amount was reduced (but not below zero) by the amount by which the cost of qualifying property placed in service during the taxable year exceeded $510,000.  In general, qualifying property is defined as depreciable tangible personal property that is purchased for use in the active conduct of a trade or business.

The Act increases the $128,000 and $510,000 amounts under IRC Section 179 for taxable years beginning in 2008 to $250,000 and $800,000, respectively.

Special first-year bonus depreciation

The Act allows an additional first-year “bonus” depreciation deduction for qualifying property in 2008:

• The additional first-year depreciation deduction is equal to 50% of the adjusted basis of qualified property
• The additional first-year depreciation deduction is allowed for both regular tax and alternative minimum tax
• There are no adjustments to the allowable amount of depreciation for purposes of computing a taxpayer’s alternative minimum taxable income with respect to property to which the provision applies
• The basis of the property and the depreciation allowances in the year the property is placed in service and later years are appropriately adjusted to reflect the additional first-year depreciation deduction
• A taxpayer may elect out of additional first-year depreciation for any class of property for any taxable year

Increased loan limits

• Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) conforming loan limits are increased from $417,000 to 125% of the median home price of an area, up to $729,750.  This increase is effective for mortgages originating between June 30, 2007, and January 1, 2009.
• For Federal Housing Administration (FHA) mortgages approved through December 31, 2008, the FHA loan limit also increases to 125% of the median home price of an area, up to $729,750 for a single family property. Additionally, if market conditions warrant, the Secretary of Housing and Urban Development has the discretion to raise the FHA ceiling for specified areas or sizes of residences up to $829,750.

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Millionaire Mind Book

The Secrets of the Millionaire Mind book promises a lot, and if you’re like me, you’re probably starting out feeling skeptical about its ability to deliver.  After all, T. Harv Eker says that with five minutes, he can predict a person’s lifetime financial future!  However, closer examination of the book and what it has to offer could make a big difference.

Every one of us has certain attitudes about success and money, which can push us forward to success or hold us back.  That’s pretty much the biggest thing that Secrets of the Millionaire Mind can teach us.  Each one of us has our own internal money blueprint, which decides how our financial stories progress and how we act towards money.

That means that even with my knowledge of stocks, sales, finances, real estate and marketing, if I don’t have the right internal blueprint for success, I won’t ever reach my personal peak.  The good news is that every one of us can change our blueprints about money into ones that are better at making us successful.  That’s what Secrets of the Millionaire Mind can tell us - how to reset those blueprints.

All of us have been programmed for either being rich or poor, and most of us will find that our internal programming is making us more poor than now.  However, I’ve recently been able to change the way I think about money, and you can, too.  In order to become a millionaire, you have to start out by thinking like one.

This book will spend a lot of time talking about the financial blueprint and telling us what we think about money and why we think this way.  However, the metaphor of the blueprint isn’t allowed to obscure the truth of the message.  By ourselves, it’s hard to see what’s holding us back from success, which is why checking out Secrets of the Millionaire Mind can help.

The process might seem long and slow, but changes are actually going on each time we open up the book.  Results start happening right away, even if the journey to success takes a little longer.  This is million dollar advice, but thankfully, it doesn’t cost that much.

Should you check out Secrets of the Millionaire Mind and see what it can do for you?  That depends - there are probably some people out there who shouldn’t read this book.  Anyone who’s not willing to deal with the discomfort of having their mind changed and thinking about money in a whole new way should definitely steer clear; after all, it takes some dedication to learn a new way of thinking.

If you have the determination to succeed, however, this book really is for you.  You won’t spend your time going through lots of positive affirmation, and some of the things you’ll learn might actually be fairly uncomfortable.  However, you’ll know that they’re true as soon as you hear them.

If I could change my mind about the way finances work, you can too, and the perfect way to do it could be through Secrets of the Millionaire Mind.  Check this book out, see what it can offer you, and get your start on the road to success.

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Millionaire Mind

If you’ve just encountered the Millionaire Mind Seminar, you may be wondering if this program lives up to all the hype.  I know that I was - after all, it looks like a lot of the other programs that promise to help you make money but don’t deliver. However, there’s more to it than meets the eye.

The beginning of the seminar was full of enthusiastic stuff on positive thinking, and I started feeling like I must have made a big mistake.  That’s not the sort of thing I’m interest in - I want to be sure to get real marketing and financial information.  This is more like an evangelical presentation in feel.

However, once you get through the beginning, you’ll find that what looks like a tirade actually helps us change how we think.  After all, the way our brains process facts about money can have a big influence on our success.  That’s why learning to think the way a millionaire does is the best way to become one.

T. Harv Eker is the creator of the Millionaire Mind Seminar, and he tells us how to break out of the negative thinking patterns that keep us poor.  His teachings are sometimes uncomfortable, but they tell us how to break out of old traps and achieve what we were meant to.  The biggest obstacle is the way we approach money.

Now, if you’re not the kind of person who’s willing to deal with the mental and emotional discomfort of rearranging your worldview, the Millionaire Mind Seminar is not for you.  It’s going to take work and dedication to get to the point where you want to be.  However, if you’re willing to put in the effort and change how you, think, this seminar can help you break free of the thought patterns that are holding you back.

We have to learn to dream big, and admire the successful instead of resenting them.  After all, if we start out from fear and resentment, we have nowhere to go.  Instead, it’s time to learn how we can take opportunities for success, and to give up our egos in favor of happiness.

Not sure about the Millionaire Mind Seminar yet?  Well, it takes a lot to convince me as well.  So, decide on your own - check out all the information you can find and see what this amazing seminar can do for you.

You’ll be surprised by what you find out, and there’s a pretty good chance it’ll change your mind.  You never know until you try!  T. Harv Eker’s Millionaire Mind Seminar is an amazing opportunity to turn things around.

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It is clear that almost all people would ideally like to live a life that is debt free. Debt not only affects your life it also has a major effect on your mental state. Then avoiding personal bankruptcy advice is probably the best kind of advice that anyone can give.

It is also the realistic way that is needed to approach life. Being young, you often times take your financial responsibilities for granted. If you are not given the right advice from and early onset, you will soon come to realize the realities of debt and what it can do to you. It might not seem that easy to actually avoid personal bankruptcy but it takes a small step, to do this you must avoid debt no matter what. What this means for you is that you must always save as much as you can and avoid luxeries you know that you can pass on.

It is difficult to accept that saving small in the beginning and avoiding spending all your money will help you avoid personal bankruptcy in the future. Likely it is the thought of sacrificing your present enjoyment.

Avoiding Personal Bankruptcy to Relieve the Emotional Strain

Being sensible is the best way to avoid personal bankruptcy. What this means for you is that you should try your best to consciously stay away from debt. Keeping a monthly statement of your income and outgoings is likely the best thing to do. You might be amazed at just where your money is going and where it should not be going.

With the economy in shambles it is time to be sensible about the realities of debt and leading to personal bankruptcy. The reason why people are advised to avoid personal bankruptcy is because it can really have an impact on your life.

Debt will have already hurt your self-esteem and filing for personal bankruptcy will simply be even more painful. It is difficult to keep from spending lavishly on the things we enjoy in life that we feel we deserve from working so hard. Spending much more than you are saving will easily lead you to debt and eventually personal bankruptcy so think carefully about just where your money is going and what you are spending it on and save for the future when things may be tough.

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All consumers should be aware of the abundance of information regarding filing for chapter 13 bankruptcy, and especially if you possess a business or even if you are just planning to start up a business in the future, this information is beneficial to you.

Chapter 7 bankruptcy information would also apply here, but the chapter 13 bankruptcy information is going to be the most important for you to be aware of.

What You Need to Know

When it comes to the topic of chapter 13 bankruptcy filing procedure information, this refers to the rule that allows a borrower with a limited amount of debt and a stable income to pay off their bills under a court approved repayment plan over a 30 to 60 month time frame. So from this chapter 13 bankruptcy information we can see that only if you have a limited amount of debt will you be able to go through under the chapter 13 bankruptcy law.

If you are in serious financial trouble on the other hand, then you are going to need to determine what your other options are because you may not be accepted for this. The thought is that you would be able to pay off all your debts under a 90 month time frame, and so if you are hundreds of thousands of dollars in debt clearly you are probably not going to be able to do that.

After looking at your financial statements and depending on how willing you have been to pay your bills in the past the judge will make a decision. They will take all of this into consideration and use it to establish whether or not they want to approve you for a repayment plan.

One more important piece of chapter 13 bankruptcy information involves what chapter 13 allows, and this is that it allows individuals with a regular income to develop a plan to repay all or part of their debts. It offers many advantages, particularly over liquidation under chapter 7. Perhaps most significantly of all, chapter 13 gives you the chance to keep your home from foreclosure. This is especially important if you have a family, as you have probably lived in your home for some time now and undoubtedly want to stay away from foreclosure on your home.

An additional major benefit of chapter 13 is that it will enable you to reorganize secured debts and stretch them over the life of the chapter 13 schedule.

Even though bankruptcy can absolutely be accommodating in some cases, you should recognize that it is not just a one way ticket out of your monetary woes. You may not have to deal with all the creditors and the debt as you once did, but you will take a gigantic hit to your credit and you will have most if not all of your nonexempt assets seized, and this includes any businesses that you may have and any credit cards that you may have. It will also remain on your credit report for up to ten years.

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“Never put your eggs in one basket”

-Your Mother

Exhibiting intelligent caution is highly important in retirement planning.  Think about dropping the proverbial basket and finding that all of your eggs have shattered to the ground – leaving you nothing to eat.  In retirement planning, you need to diversify your asset allocation not only to prevent a devastating loss from one catalyst, but also to capture the full power of investment returns.  Remember, the only quantitative way to reduce your risk in investing is through proper diversification.  

In retirement planning, the two main things to consider when diversifying your portfolio are your timeline and your risk tolerance. 

Analyze Your Timeline

How long will it be before you access your retirement accounts?  5 years?  30 years?  Your retirement planning timeline will be one of the main factors in determining how you achieve your financial goals.  A shorter timeline, such as 5 to 10 years, will probably result in investment choices that are more conservative, geared towards protecting your wealth.  A longer timeline, by contrast, allows an individual to take riskier investments, which may bring higher returns, but also allows enough time to recover from any losses incurred.

Evaluate Your Personal Risk Tolerance

Your risk tolerance will also heavily factor in how you diversify your retirement portfolio.  A high tolerance allows an individual to diversify in a greater amount of risky investments that could result in higher returns, but also higher losses.  If you are more interested in protecting your wealth, you will probably have a lower risk tolerance and keep your asset allocations in safer investments.  However, it is important to remember the risk-to-reward ratio in retirement planning.  The more tolerant you are of risk, the more financial reward you could enjoy.

Diversification Options

In retirement planning, where do you diversify?  While your retirement planning professional may create a unique mixture for your specific situation and retirement goals, there are four main investment options that most retirement accounts have:

·        Cash Equivalent – Certificates of Deposit or money market accounts are very liquid investments.  These are low risk and offer the least amount of interest return.

·        Bonds – Corporate or government investment bonds offer a modest return without the heavier risk felt by stock investments.  Investment bonds are less volatile and provide a fairly safe investment for low-risk individuals. 

·        Mutual Funds – Investing in mutual funds gives the investor a “share” in an already diversified fund.  In retirement planning, there are many mutual funds available for investment, and all have their own risk factors from high to moderate to low risk.  Mutual funds can offer the investor a way to diversify in stocks, while allowing the fund managers to do all the research and hard work.

·        Stocks – Investing in stocks can require tremendous effort in researching and monitoring companies.  Most people entrust their retirement accounts with a stockbroker who performs investment research and makes recommendations.  For retirement planning purposes, stocks can offer the greatest reward and return with the right company, but also has the greatest risk factor due to high volatility in the stock market.

Use the power of time and risk tolerance to help you decide how to diversify your retirement account portfolio.  Enlist the help of retirement asset management firms to help you make the financial goals and decisions best for your situation.  Remember, in retirement planning, your financial goals are only limited by your risk tolerance.  And a more diversified retirement portfolio allows you to make some risky but rewarding investments, as well as safe returns for your money.

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Many banking customers are discovering the increased convenience, ease, and security of online banking services. Even some business banking services are now being offered online, as technology continues to advance and as consumers become more and more comfortable with the idea and practice of online banking. Services include bill payment, check writing and check mailing, funds transfer, balance inquiries, and others. Even the smallest banks and credit unions are now generally able to offer their depositors the ability to access online banking services, and with the increasing integration of the personal computer and even wireless handheld devices into the management of our day-to-day lives, online banking services are likely to continue to be in high demand for the foreseeable future.

Online Banking Services Are Worldwide Available

Maybe the greatest advantage of online banking services is their capability to offer 24 hour a day, 7 day a week access to important personal financial information. Now, with an up-to-date online banking service, you can pay bills at three in the morning, or transfer funds from one account to another on Sunday afternoon while you’re watching your favorite sporting event. You can check your balances while you’re sitting at your desk at work and review the transactions on your mortgage account during your lunch break—without having to drive anywhere.

Online Banking Services Competition is Good

Now, it's easier than ever for consumers to compare rates, services, and features of online banking services being offered. You can do an Internet search on a phrase like “online banking services” and get rate comparisons for various types of accounts offered by banks in your zip code. If you’re looking for an interest bearing checking account, a bill paying service, or other online banking services, you can get a pretty good idea of what’s available, right on your desktop. Most banks even offer a virtual tour of their online services so that you can get an idea of the user interface and its features. Most online banking services are designed to be easy to use with a point and click navigation method. If you have multiple related accounts, you can often obtain discounted or free access to online banking services.

Online Banking Services Security

Banks use encryption methods and password-protected access to account information to provide maximum security for transactions and to prevent unauthorized access to personal financial information. As long as users are conscientious about not providing others with passwords and about logging out of their browsers at the end of each session, most persons shouldn’t have to worry about the safety of their accounts or information.

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I recently read that the money mavens in Washington have officially certified that our country is in a true recession.  In fact, we’ve been in a recession for more than a year.

It begs to be asked why it took them so long to figure this one out.I’m left wondering what part of the country these peopld come from and how they are so sheltered.

Regardless of how long it takes the official economic bean counters to verify the obvious truth of the situation, it has not taken the banks (both big and small) nearly as long recognize the facts for what they are and react accordingly.

While the stories of bank failures, FDIC takeovers, and the forced shotgun wedding of one bank to another clamor for domination of the newspaper and television headlines, a different and more subtle change in the banking community has taken place right under our noses.

Recently a number of well-known banks have been lowering the amount they are willing ot pay out on traditional Certificates of Deposit. After all that has happened and the losses the banks have sustained, I guess you can’t blame them.

A quick review of Bankrate.com shows the local payouts for the 5 major banks in my state averaging 2.1% for a 1-year CD.  Chase is offering only 1.00%.  In fact they are offering 1% pretty much across the board, regardless of how much you commit to the CD or for how long. 

We see this coming from one of the largest banks in the nation which supposedly has enough financial strength to be tapped on the shoulder to facilitate the Bear Stearns bailout.  Yet the buck doesn’t stop there!A lot of the financial talking heads are predicting that Chase has it right.

The word on the street is that even the higher rates advertised are inflated.  They are simply trying to grab up deposits in an attempt to prop up their fourth-quarter figures before the year ends.  Plan to see their rates to fall more in line with Chase after the kickoff of the New Year.

With the stock exchange and commodities markets in such a state of turmoil, an ungodly amount of money has been pulled out and directed towards CDs in an attempt to seek safety for whatever principal investors have left.  Unfortunately with CD rates projected to head lower than the already paltry levels they are paying out today you have to ask yourself if these so-called “safe investments” are really safe at all.

If by “safe investment” you mean that CDs are guaranteed to have little to no increase in value over time, then you might be right.  I suppose that just keeping your investment dollars from declining in value may be more favorable than throwing it in the stock market or mutual fund accounts, but if you’ve lost 10 years of growth you sure won’t be replacing it anytime soon with 1% rates.

Many investors when faced with the choice between the risks of the stock market and the sad returns of CDs are thinking outside of the box when it comes to searching for safe investments.A not-so-new option that is regaining popularity among savy investors is Private Mortgage Loans.

Private Mortgage Loans (sometimes referred to as Private Money Loans) are a classic example of relationship lending.  Put simply, it’s you investing in someone you know and have a relationship with in the form of a mortgage secured against a piece of real property.

The rates paid to private mortgage investors tends to be high, averaging between 10-12%, yet are considered by most as safe investments because they involve relatively low amounts of risk.  This unique balance is achieved because of the large amounts of equity built into the assets that any investment funds are attached to.

The fact that you get to invest locally in most cases is another benefit of Private Mortgage Investing.  This means that you can physically drive to a property and inspect it at any time.  You can “look under the hood” to see the in-flow and out-flow of cash that the property is subject to and get a good feel for whether your investment is working like a well oiled machine.  This type of hands-on accountability is not possible with stock market investing where you are usually limited to reviewing charts, graphs, and profit and loss statements.

Even if you are investing out of state, you can request multiple photos and even YouTube style videos of the property before you commit to investing in the project.

Another benefit your receive as a Private Investor is the ability to see the on-the-ground benefit your money produces as it works to revitalize the local economy and enrich the community. 

Many areas are filling up with vacant home because the big banks are refusing to lend to lend except on owner occupied properties.  Many investors would gladly pay a high interest rate to buy these homes and rent them out for long-term growth (in essence taking all the property management responsibilities on their own shoulders) which means that both landlords and private mortgage investors who don’t have the time for tenant and property management stand to benefit from the relationship.

With banks imploding due to their own greed and mismanagement of their depositors’ money followed by the insulting returns they are willing to commit in the form of CDs now that the damage is done, it would appear that we are returning to a time where people feel more confident in loaning to people they know, have had lunch with, and can have a face to face chat about how well their investment dollars are doing.  As a safe investment alternative, Private mortgage investing falls right in line with this trend emerging with the new economy we find ourselves in.

Do some more research on private mortgage investing and I’m sure you’ll agree that this strategy offers some of the greatest returns available as well as unparalleled safety at a time when many investors need it most.

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It is evident financial statements feature a great deal of numerals in them and at first glimpse it can seem unwieldy to interpret and understand. One way to interpret a financial report is to calculate ratios, which implies, separate a certain number in the fiscal report by another. Financial statement ratios are also useful because they enable the reader to compare a business’s latest operation with its previous performance or with some other business’s operation, regardless of whether sales receipts or net income was tremendous or lesser for the some other years or the some other business. In other words, using proportions can cancel out deviation in company sizes.

There aren’t many proportions in fiscal reports. Publicly owned business organizations are expected to report just one proportion (earnings per contribution, or EPS) and privately-owned businesses more often than not do not report any proportions. Generally recognized accounting principles (GAAP) don’t require that any proportions be reported, except EPS for publicly possessed companies.

Proportions don’t allow for definitive answers, however, they’re useful indexes, but are not the only element in gauging the profitability and effectiveness of a company.

One ratio that is a useful indicator of a company’s profitability is the profit margin proportion. This is the gross margin divided by the sales revenue. Businesses don’t disclose margin information in their external fiscal reports. This data is regarded to be patented in nature and is kept confidential to shield it from competitors.

The net profit proportion is very important in examining the bottom-line of a company. It signals how much net profit income was earned on each $100 of gross sales revenue. A profit ratio of 5 to 10 percent is standard in most industries, although some highly price-competitive industries, such as retail merchants or food market stores will indicate profit proportions of only 1 to 2 percent.