One of the most common questions I get from small business owners is how to pay themselves. After they open and start turning a profit this question inevitably comes up. They don't want to do anything illegal, but they don't know the legal way to do so.
This week's article is by Gusto, a payroll servicing company. I recommend reading it because it explains the best ways for small business owners to compensate themselves based upon their legal structure. It goes further to help them determine how much to pay themselves and includes the tax considerations.
If you are a small business owner and need some clarity on how to pay yourself then I highly recommend you read the full article. Gusto is my go-to payroll software. They are easy to use, affordable, and offer more functionality than some of their competitors. If you have any additional questions I am always happy to help.