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Business strategy
Should You Pay Yourself As A Business Owner?
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[QUOTE="Mika, post: 255905, member: 29399"] I own a small business. I sell through eCommerce marketplaces. Every day I work 3-4 hours on my business. Do I give a salary to myself? Well, no. I take the profits and don't give myself a salary. As a sole propriety business owner, all investment is mine, therefore, all profits and losses are mines. Therefore, I don't have to treat myself with a salary. My business is work from home business, I do not hire people to work on my business, when I need extra hands, I hire virtual assistants, but that happens occasionally. By business is not even a legal entity, it s not registered. However, if I was operating a registered business where I had to pay tax and audit my business, I would certainly give myself salary because law tells you you cannot work for free, you need salary if you are employed in a company, even if you work part time. [/QUOTE]
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Should You Pay Yourself As A Business Owner?
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