How Much Should I Pay Myself?

Answer:
If you’re just starting out as a new business 
owner
, you may want to pay yourself as little as possible in order to put money back into growing your business. If you’ve owned your business for several years, and it has grown substantially, you may want to put a little more money into your own pocket now.


As a responsible business owner, it’s important to make sure that your expenses are reported and paid properly, especially local, state, and federal taxes. After these are paid, you’ll need to cover the cost of your overhead. Now you can take a look at the numbers and consider the amount of salary that would be feasible for you to receive in relation to your business. Do you want a percentage of your profits or a specific dollar amount each month? Some business owners want to pay themselves as much as they can; however, some owners are much more conservative.

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