Still not sure how to pay yourself from your business? Or what to pay yourself? Or how much you should put to the side to pay income taxes?
Last week, we discussed deciding what you should pay yourself as a solopreneur (DBA, single member LLC treated as a sole proprietor, etc)… but what do you do when you’re a S-Corporation, C-Corporation, etc?
Deciding what you should pay yourself as a business owner can be a confusing matter to resolve but I’ve got you covered.
Note: This episode is especially for you if you’re the owner of a corporation (S-Corporation, C-Corporation or Partnerships). There is a separate episode for a solopreneurs (DBAs/doing business as; sole proprietors or a single-member LLCs treated as a sole proprietor).
Mentioned in today’s episode:
- the question you should ask yourself before you start transferring money from your business
- what you need to have in place (like a board of directors)
- what you may want/need to get in writing
- how to figure out a reasonable salary
Don’t forget, you’re invited to a complimentary consultation with me… You can grab a session by going to thecommoncents.com/consult. Just in case you have any specific questions or unsure how much to pay yourself.