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:

1. Ep 4 - LLCs and EINs

2. Ep 21 - What’s an S-Corp and When Should I Become One?

Hope that helped!

Now until next time, may your week be filled with love and profit!

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