Is it really worthy paying yourself on the business that you take part in?

[Stardom22]

As far as l am concerned, l don't really consider paying myself salaries from whatever businesses that l am participating on

 

[Suba]

If you run your own business, I recommend that you pay yourself, because you also work in your company/business, even though the business is new and has not yet made a profit, at least you have to record your salary expenses, and you deposit it back as additional capital. Your salary records will be useful for reducing taxable profits.

 

[Springtime]

Most business owners here pay themselves a salary. One of the reasons is to separate business and personal income. Another reason is the salary paid is considered operating expense and is tax deductible from the profits of the business.

 

[Trush Jodie]

I believe it is a good practice to pay yourself as a business owner. Just consider yourself as one of the staff of the business.

Post automatically merged: Jan 8, 2025

I believe it is a good practice to pay yourself as a business owner. Just consider yourself as one of the staff of the business.

 

[Augusta]

Why not, you are doing the business to make profit so why wouldn't you pay yourself. Yes you need to pay yourself from the profit

 

[eLdavis]

Yes this is a business strategy a lot of business owners do, and I think it's a good one, and a way to manage resources.

 

[riberet19]

You should earn a salary for yourself, if you are running a business it is to make money right? unless you work in a non-profit sector...

 

[Augusta]

You should earn a salary for yourself, if you are running a business it is to make money right? unless you work in a non-profit sector...

That's the issue you need to pay your self. Your business is for profit making so you need to get your pay off it.