56 \\ How to Pay Yourself From Your Business Without a Tax Headache
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Thu 16 Nov 2023
- Episode Link
- https://smallbusinessfinance.podbean.com/e/56-how-to-get-cash-out-of-your-business-without-paying-more-in-tax/
How do you take money out of your business without creating a tax mess? In this episode, Tiffany explains the right way to pay yourself as a small business owner. She covers when you should use distributions versus payroll, how to separate business and personal accounts to avoid IRS issues, and what entity types (LLC, partnership, S corp, C corp) require different approaches. You’ll also learn simple strategies to set aside money for self-employment taxes so you’re not caught off guard at year-end. If you’ve been unsure about how to move money from your business to your personal account, this episode breaks it down clearly and helps you avoid costly mistakes.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
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