Ep25- How to Pay Yourself from Your Business - Salary vs Owner Distributions vs Profit
3/7/23 - How to Pay Yourself from Your Business - Salary vs Owner Distributions vs Profit
Today I’m sharing the short-but-sweet answer to a question that is on EVERY (new) business owner’s mind: “How do I get paid?”
It’s really not a complicated answer, but here it is:
How you pay yourself from your business depends on how your business is structured (legally) and taxed (by the IRS)
I’ll be covering:
What’s the difference between profit, salary, and owner distribution?
How to pay yourself in the 3 different business structures we often talk about: Sole proprietor, LLC, and S-corp
And how frequently I recommend paying yourself
And if you need a refresher, here are 2 episodes I refer to in the show:
Hope that helped!
Now until next time, may your week be filled with love and profit!
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