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Badgerz
04-23-2006, 11:39 PM
How do all pay yourselves? What I mean is you have a certain gross income at the end of the week/month. One of the expenses to be deducted from your gross in order to figure out net would be the amount of money that you pay to yourself correct? This would be the amount of money that you transfer from your business into your personal account for personal use. Do you write yourself a check so there's a record of self payments or??

Hopefully my question isn't too confusing. It's currently one of the gray areas in my planning.

olderthandirt
04-23-2006, 11:52 PM
Yes you write yourself a check each week or month however you have it set up, and it should be for the same amount. As the owner your salery not hourly.

sheshovel
04-24-2006, 12:00 AM
I don't seem to pay myself..I pay everybody else in the world though!

olderthandirt
04-24-2006, 12:18 AM
I don't seem to pay myself..I pay everybody else in the world though!
Would you prefer to send cash or a check ???? I would like to take this oppertunity to inform you that your payment is now past due :laugh: :laugh:

sheshovel
04-24-2006, 01:03 AM
you'll have to take it out in trade Olderthan...I am tapped out!

Az Gardener
04-24-2006, 01:29 AM
Yes pay yourself just like an employee, take out taxes, get checks with the guys on Friday, fill out a time sheet just like the rest. This will keep you out of trouble.