Paying yourself

Paying yourself

  • Just take the profit and leave a % in for the business. ( which can mean different pay each month)

    Votes: 27 61.4%

  • Pick a number from a hat.

    Votes: 8 18.2%

  • Or Say "I want to make $XX,XXX a year" And explain this one if you can.

    Votes: 9 20.5%
  • Total voters
    44
I am on salary and bonus out extra at the end of the month. Sometimes the bonuses are big and sometimes they are small. But I always make my salary.
 
I pay myself a salary the rest goes back in the business.
 
Probably the same people that do not have an accountant.
 
an accountant can be your bvest friend thats for sure. Mine has helped me out and given me sooooooo much insight. Fairly priced also. I keep my book end of things and he just advises and fills out all the "elevenity-billion" IRS forms every year...
 
I agree accountant is your best friend find a good one. My accountant setup a lease. I own my vehicle so I lease it back to my inc. at a set price.
 
I just found out that my accountant is having a hard time also with this economy. She called me and told me that she will be turning over my business to another accountant that has helped her in the past. It seems she has lost numerous businesses that couldn't make it go and her business was getting smaller and smaller so she has gotten another fulltime job that has a garantee income so she can pay her bills. She will be missed! Hugh
 
This is a great thread, reminds me i need to find an accountant and get my finances back on track. They are a mess right now. Would like to get it straitend out by the new year.

I take profits and leave a percentage. Sounds like i need to set myself up on Salary.
Thanks!!
 
I keep 100% in the company, hoping the Obama will be sending me my distribution of wealth check anytime now.

Or maybe I should empty the bank accounts so he doesn't distribute my "wealth" to others ???
 
Well I always reinvest the money erned back into my company. I by no means do i try to compete with anyone else. I just have a list of things i need to buy to make my job go by faster and put less strain on me. as a newbe i learn new things everyday. have alot of ideas to improve alot of things that are sold in PW specialty stores. and am trying them little by little. some chems work some dont. swivel here swivel there, etc. but i am guilty of trying to buy stuff for my rig that will seperate me from the comp. dont have a full/part time job. so i do pay myself a % of my contract work. everything else is gravy and goes into the banamex for my hotel in mex.:D
 
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