Should Business Owners Get Salaries?

[Suba]

This kind of question is often asked by novice businessmen, where they have just started running a business, so the financial condition of the business is not yet stable and often the business cannot make a profit, maybe in a break-even state or even at a loss, especially if we have employees who must be paid. So in your opinion, should business owners get salaries?

 

[Min George]

Business owners should get salaries. It must not be very huge but they should take a part of their profits, no matter how little, as their pay.

 

[Augusta]

Sure you need to create space with the profit you make to be paying yourself that way you can have even savings for yourself

 

[King Belieal]

Business owners like me get salaries. I tell my cashier to pay me a fixed amount every month from the declared profits.

 

[Starmix]

Business owners here in my place are paid the highest as the top management. The salary the owner receive serves as future capital according to my friend a cashier at the SM. Downtown Mall.

 

[Trush Jodie]

Business owners are doing productive ventures in their businesses and they should surely get salaries for their work.

 

[Augusta]

Yes they are working as well to get money so why not They need to get money for themselves as much as they can as salaries

 

[Suba]

The main problem is what happens when the business breaks even or cannot make a profit because the business is just starting out, will the owners still take their salaries?

 

[Fidelia]

Every business owner that has been able to make consistent profits should and must pay himself salary, especially when they also work in the business.

 

[Suba]

Even though the business has not been able to make a profit or is in a BEP state, the entrepreneur will have to take a salary, and it is recorded as an expense and will reduce Earning Before Tax in the current tax year, then the owner's salary can be re-deposited as capital and recorded as an increase in capital.

 

[Augusta]

Yes, it helps with tax planning, business structure, and financial clarity. it's recommended to have a formal salary structure for yourself

 

[eLdavis]

I personally don't see anything wrong with a business ower having salary, this would actually help them manage how they spend their resources.

 

[Starmix]

It's essential for a business owner to get paid. He is holding a top position, so he must have a pay. He will have the greater pay as the owner and manager. His salary will be spent for bills and food for his family.

 

[Augusta]

You need to pay yourself first. Business is for profit making as such one just have to take out money for sale

 

[Kross]

It is the decision of a business owner to make if they get paid salaries. They are the ones that disburse the revenue.

 

[Augusta]

That's right to help provides consistent income for personal budgeting and is often required for corporations to deduct a reasonable salary as the owner.