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How to pay yourself as a small business owner: salary vs draw | Start your business

Intuit QuickBooks
266K subscribers
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34K views 3 years ago #StartYourBusiness #QuickBooks #BackingYou
When you start a small business, it is hard to differentiate work income with personal income. Making sure you have a set pay structure for yourself is crucial in payroll and taxes. See whether you should take a salary or an owner's draw: https://intuit.me/3pxr8aU. Salaries and draws are the two ways you can give yourself income. Each option has positives and negatives based on your cashflow, tax structure, and business type. Figure out which is best for you and your business! Check out more from the Start Your Business series: https://intuit.me/3p8v2qC Subscribe to our YouTube channel: https://intuit.me/3bOj0M2 Visit QuickBooks.com: https://intuit.me/QBO The world’s largest workforce works for themselves. We work for them by providing smarter business tools. QuickBooks #BackingYou. #QuickBooks #StartYourBusiness This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for o …...more
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How to pay yourself as a small business owner: salary vs draw | Start your business
758Likes
34,814Views
2021Jun 29
When you start a small business, it is hard to differentiate work income with personal income. Making sure you have a set pay structure for yourself is crucial in payroll and taxes. See whether you should take a salary or an owner's draw: https://intuit.me/3pxr8aU. Salaries and draws are the two ways you can give yourself income. Each option has positives and negatives based on your cashflow, tax structure, and business type. Figure out which is best for you and your business! Check out more from the Start Your Business series: https://intuit.me/3p8v2qC Subscribe to our YouTube channel: https://intuit.me/3bOj0M2 Visit QuickBooks.com: https://intuit.me/QBO The world’s largest workforce works for themselves. We work for them by providing smarter business tools. QuickBooks #BackingYou. #QuickBooks #StartYourBusiness This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.

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