Do you pay yourself a salary in your business? Why or why not? Comment below!
@ttcsjonesboro
4 жыл бұрын
Hey sir. I need to actually talk to you about this over the phone. is that possible? Thanks-
@neilkendall5499
Жыл бұрын
How do you pay yourself a salary as the owner of a business you buy? Does the salary get paid out of the revenue or the net profit of the company? The salaries of my employees will be paid out of the revenue, but what about my salary? Am I entitled to choose exactly how much salary I get (assuming the business can afford it)? Does the salary get paid into my personal bank account, or should I set up another limited company business and bank account (separate from the business that I own) in order to pay my salary into? How is my salary taxed? I am in the UK btw.
@ameersohail8939
4 жыл бұрын
I'm starting a family food business where my dad and myself are cooks and my uncle is cashier. Thanks this video helped me. Going to pay salaries.
@fabianrojas3331
2 жыл бұрын
I never thought about the employee hat while being a CEO thanks for the lighbulb moment, Chandler. Also love the 'firing myself' comment.
@kathystevens9196
5 жыл бұрын
It is also whether you have the time... Good to know! Don't cheat yourself...
@ChandlerBoltOfficial
5 жыл бұрын
What do you mean?
@kathystevens9196
5 жыл бұрын
@@ChandlerBoltOfficial working for yourself? and finding the time to run the business -finances, and do the business-sales, marketing, or creating product
@ChandlerBoltOfficial
5 жыл бұрын
@@kathystevens9196 whether you have the time to pay yourself? Or time to work on the business?
@kathystevens9196
5 жыл бұрын
@@ChandlerBoltOfficial both right? Like right now I am trying to learn and create a finance plan which is taking away alot of time from doing any business I could be doing to make money for my business. You have to have time that would not normally be creating revenue. Did you do a business plan for writing? If so, could you do one that would forecast a feesible, realistic time line to have income as a writer?
@ChandlerBoltOfficial
5 жыл бұрын
@@kathystevens9196 ah, got it. I think I understand what you're saying. Check out the video I just released today on this: kzitem.info/news/bejne/zIl_yHVmhpuXaaQ
@parfaite_ts
3 жыл бұрын
Thank you Chandler for making it clear to me. I appreciate it
@MnMGpa
4 жыл бұрын
Thanks for the video. I'm about to open a franchise (C-Corp) and have been going back and forth over this very topic for a while.
@ChandlerBoltOfficial
4 жыл бұрын
Great to hear / glad it was helpful. What did you decide?
@MnMGpa
4 жыл бұрын
@@ChandlerBoltOfficial I'm going to pay myself a regular salary to cover my share of the home expenses.
@ChandlerBoltOfficial
4 жыл бұрын
@@MnMGpa Smart. Love it!
@deusvult6920
2 жыл бұрын
The industry I'm starting a business in is one that has about a year lead up until you break even and about 18 - 24 months until you can even do it full time. Would a good compromise to cover that time between break even and full time be to pay myself a commission on all sales? I dont want to work for free but bootstrapping myself with
@timely2272
2 жыл бұрын
this are such a great content i dont know why u dont have more subscribers
@ChandlerBoltOfficial
2 жыл бұрын
Thank you :)
@heneyguide1
2 жыл бұрын
I would pay myself a standard bill wage !!!
@Exphia
3 жыл бұрын
What are ways to get paid by flipping houses is like a wage base too?
Пікірлер: 23