Episode 56: Strategies for Paying Yourself as a Business Owner
Figuring out how to pay yourself effectively can be daunting- don't do it alone! In this episode, Kate, Eva, and Rachel explore the two main was business owners can pay themselves: owner's draw and salary. Each has benefits and drawbacks, and you may need to use one or the other depending on your business structure. Tune in to learn how to pay yourself in alignment with accounting responsibilities and your business and personal goals. Along the way we share real stories and insights into managing this essential aspect of running your own business! This work is supported by the Farm and Ranch Stress Assistance Network (FRSAN), grant no. 2021-70035-35372/project accession no. 1027099, from the U.S. Department of Agriculture, National Institute of Food and Agriculture.
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Show Notes
Figuring out how to pay yourself effectively can be daunting- don't do it alone! In this episode, Kate, Eva, and Rachel explore the two main was business owners can pay themselves: owner's draw and salary. Each has benefits and drawbacks, and you may need to use one or the other depending on your business structure. Tune in to learn how to pay yourself in alignment with accounting responsibilities and your business and personal goals. Along the way we share real stories and insights into managing this essential aspect of running your own business!
This work is supported by the Farm and Ranch Stress Assistance Network (FRSAN), grant no. 2021-70035-35372/project accession no. 1027099, from the U.S. Department of Agriculture, National Institute of Food and Agriculture.