5 Tips for Setting Your Salary as Business Owner

Posted by SBA.gov under Management
From http://www.sba.gov 4616 days ago
Made Hot by: Small Business Tribe on March 24, 2012 2:40 am

If you’re a sole proprietor with no employees and very little business overhead, what you pay yourself is pretty much what you earn in sales minus your costs and taxes. But what happens when your business grows, or you enter a partnership, or take on employees? Here are a few tips to help you determine the best way to "pay the boss.

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Comments

Written by HeatherStone
4612 days ago

Hi Caron,

I think this a question that haunts every entrepreneur, perhaps especially in the early days. How much should you take out of your business? How much should you reinvest in your business? Should you do a salary or owners draw? Thanks for the post and for contributing to BizSugar.

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