Salary for Small Business Owners: How to Pay Yourself & Which Method (Owner's Draw vs. Salary)?

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What is the best salary for small business owners? And what is the best method to pay yourself?

Today I am going to show you how I pay myself in businesses I own, and give you my opinion, as a CPA, on how to pay yourself in your own business.

I cover the different considerations on your business type (LLC, Corporation, etc.) and how that plays a role in how you receive compensation from your business.

I also covert the different types of owner compensation, such as owner draws, dividends, and salary wages.

By the end of this video, I promise you that you will be equipped with the fundamentals to start paying yourself correctly for your business.

Outline:

Intro: (0:00)
Risks of Overpaying Yourself: (2:10)
How Much to Pay Yourself: (3:55)
Best Methods to Pay Yourself: (5:05)
Recap - Salary for Small Business Owners: (9:52)

Resources:

Blog Post: https://lyfeaccounting.com/blog/salary-small-business-owners/

LLC vs. S-Corp: https://www.youtube.com/watch?v=AbrweR6hm80&t

Small Business Accounting Services: https://lyfeaccounting.com/

CFO Services: https://lyfeaccounting.com/cfo-services-small-businesses/

Видео Salary for Small Business Owners: How to Pay Yourself & Which Method (Owner's Draw vs. Salary)? канала LYFE Accounting