how to pay yourself

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You started a business, not a hobby, so you know how important it is to pay yourself consistently. In this episode of the Business Money 201 series discover business planning strategies that will help you do just that.

This series builds on information that was presented in the Business Money 101 series. If you haven’t listened to those 5 episodes yet, they start here:

3 - Financial Foundations

Other recommended episodes:

• 22 - Cash flow Forecasting and Business Planning 

• 25 - How to Pay Yourself From Your Business

Connect with Erica:

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Today I’m sharing the short-but-sweet answer to a question that is on EVERY new business owner’s mind: “How do I pay myself?”

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 talk through:

• How to take an owner distribution

• How frequently I recommend paying yourself

• Paying yourself as a sole proprietor vs an LLC vs an S-corp

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And if you need a refresher, here are 2 episodes I refer to in the show:

1. 4 - LLCs and EINs

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

Find complete show notes here 

Connect with Erica:

• Instagram @erica.goode.cpa 
• LinkedIn: Erica Goode, CPA
• Newsletter sign-up: https://www.ericagoode.com/newsletter-signup
• ***FREE Tax Deduction Guide***

If your life was a sports game, you’d be in the second half of the game ready and willing to start a new half! 

We are halfway complete with the first half of our year … how does it get any better than that? What would you like for your life and being for the second half of the year? 

My big takeaway from the first half of the year is that the time that I took to get to where I am today was so required for me. At the beginning of the year it felt like I was stuck and I had my feet in quicksand. I now am so much more aware that the time it took me to get unstuck was required for me and my life. 

What is your takeaway from the first half of the year? 

In this episode I share how questions you can ask yourself and your loved ones so that you can have even more awareness for you and your lives. 

IN THIS EPISODE, I TALK ABOUT:

• My quarter 2 PUSH GOAL (TARGET) for 2022 
• My quarter 2 THEME for 2022
• My BIG takeaway from the first half of 2022 
• My quarter 3 PUSH GOAL for 2022
• My quarter 3 THEM for 2022  

If you loved this episode, it would mean the world to me if you SUBSCRIBED to the podcast on your favorite podcast app and give it a 5 star review. I would be forever grateful! Thank you!! 

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