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  #1  
Old 12-06-2006, 10:41 AM
smarino21 smarino21 is offline
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Join Date: Jan 2006
Location: Michigan
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as an owner how much do you pay yourself

I was wondering how do you guys that are owners that dont do the labor work your self, pay your self? I dont really have a set schedule of payment for myself but i was thinking taking x amount per week during cutting season. Any one do anythin differnt?
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  #2  
Old 12-06-2006, 10:47 AM
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rodfather rodfather is offline
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% of Gross Revenue
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  #3  
Old 12-06-2006, 10:53 AM
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chipk1 chipk1 is offline
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Fixed weekly amount and then quarterly bonus after everything is payed.
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  #4  
Old 12-06-2006, 01:38 PM
bobw bobw is offline
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Location: Calgary, Alberta
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nothing for the season, whatever is still in the bank after that.
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  #5  
Old 12-06-2006, 06:14 PM
topsites topsites is offline
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{Gross deposits + (savings + interest)} - {expenses + %taxes + retirement savings} = my money

Roughly speaking, the accountant always explains it better

Last edited by topsites; 12-06-2006 at 06:23 PM.
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  #6  
Old 12-06-2006, 08:21 PM
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Josh.S Josh.S is offline
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I am still waiting to make any money....
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  #7  
Old 12-06-2006, 09:46 PM
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tthomass tthomass is offline
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Location: N. VA
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I just make draws on my business account (rent and credit card is all)...........add them up at the end of the year, write myself a check and deposit that check back into the account to show a record of payment or "income". On average $1200-$1500 a month is all I pay myself after taxes. I keep the rest in the business.........it doesn't do anything sitting in my personal account.
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  #8  
Old 12-06-2006, 11:06 PM
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Gatewayuser Gatewayuser is offline
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Location: Cincinnati, Ohio
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After expenses, payroll, payroll taxes and putting money in the business savings I will take a check next year of around $1000-1200 per week that way I have a w2. Or $30 per hr with the other $20 per hr going to the biz. Now if you don't have employees and your only self employed it would make no sense to do that. It almost does not for me. I employ 3 next year 4-6.
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  #9  
Old 12-07-2006, 09:37 AM
Husky05 Husky05 is offline
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Join Date: Oct 2005
Location: Pittsburgh, Pennsylvania
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My business is set up as an LLC. I pay me self each quarter a wage that my accountant and I came up with. I did these for myself this way for two important reasons. I pay myself a low wage because I do want to be hit with large income taxes. When you are set up as a corporation, or LLC you can use give yourself distrubutions throughout the year which are not subject to social securty taxes, that is how I make up for the low wages. Finally, I own a commerical garage where I run my business out of. I lease the garage to my business, so every month my business writes a check to me. Its kinda chinease book keeping but it definitely gets me around from paying lot of taxes.
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  #10  
Old 12-08-2006, 10:43 AM
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DFW Area Landscaper DFW Area Landscaper is offline
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Location: DFW, TX
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Setup as an LLC but taxed as an S Corp with the IRS.

Salary of $40,000 per year to run the office and make decisions paid monthly.

The rest is a dividend.

Later,
DFW Area Landscaper
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