As a business owner with a thousand responsibilities and your own company expenses to think about, factoring in how to pay your own salary can easily fall to the back burner. But when it comes to optimizing your business’s financial performance, retaining top employees, and building a long-lasting, successful company, how you choose to pay your own salary matters.
Your business’s structure will be a major factor, and experts like Alice Brendin, a B2B marketing entrepreneur and small business advisor, said it’s important to include your own pay in the budget as soon as you can afford to do so. By prioritizing your own salary structure, you can set your company up for long term success.
How to pay yourself as a business owner
According to the IRS, business owners should pay themselves a “reasonable salary.” But how do you determine what’s reasonable?
Dispatches From The Front 