66 \\ How to Pay Yourself: Smart Strategies for Small Business Finance
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Mon 01 Jan 2024
- Episode Link
- https://smallbusinessfinance.podbean.com/e/66-from-business-to-bank-your-guide-to-extracting-profits-from-your-small-business/
If you’ve been wondering how to pay yourself from your small business, this episode will clear it up. Tiffany breaks down exactly how to move money from your business to your personal account the right way. You’ll learn the key differences between an LLC, S Corporation, partnership, and C Corporation when it comes to paying yourself, plus why keeping business and personal finances separate matters. Tiffany also explains terms like owner’s draw, distributions, and reasonable compensation in plain English. Whether you’re new to small business finance or want better tax strategies, this episode gives you practical steps and smart strategies to manage your income, avoid IRS headaches, and protect your personal assets. Perfect for female entrepreneurs who want confidence and clarity with money decisions.
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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