How Do I Pay Myself From My Business?

"How do I pay myself from my LLC?" is a question we get all the time. And it makes sense.

Right, when you're an employee, you show up to work and they help you sign up for payroll of write you a check if you're a contractor when you're first hired and then it's direct deposit from there.

But when you start working for yourself, YOU need to set up payroll for your employees. And then, what about for yourself? Well, that's the question we get all the time. And the answer is, well.... it depends.

The easiest way is just transfer the money. For real. You log in to your business account and transfer it to your personal. Done. 

And before you asking about salary vs distributions and stuff like that... it depends. Yes, some businesses the owner can take a payroll check like an employee. Some you can't. It depends on your set up.

General rule, transfer the money from your business account to your personal and you're good.

JT goes a little more in depth in a recent youtube video for you to watch here, https://www.youtube.com/watch?v=5LeamdGhKRM

Also, do you have a specific tax question you need answered before year end? Message us and we’ll message you back.