Paying Yourself

Discussion in 'Starting a Lawn Care Business' started by Badgerz, Apr 23, 2006.

  1. Badgerz

    Badgerz LawnSite Member
    Posts: 122

    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.
     
  2. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Posts: 4,900

    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.
     
  3. sheshovel

    sheshovel LawnSite Fanatic
    Posts: 5,112

    I don't seem to pay myself..I pay everybody else in the world though!
     
  4. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Posts: 4,900

    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:
     
  5. sheshovel

    sheshovel LawnSite Fanatic
    Posts: 5,112

    you'll have to take it out in trade Olderthan...I am tapped out!
     
  6. Az Gardener

    Az Gardener LawnSite Gold Member
    Posts: 3,899

    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.
     

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