Pay yourself the right way

Ongoing: Stay compliant and grow. Step 20 of 24 in the new LLC launch playbook. How you take money out depends on how your LLC is taxed. Doing it wrong can cause tax problems. Key points: - If your LLC is taxed as a sole proprietor or partnership, you usually take an owner's draw. - If you elected S corporation status, you generally must pay yourself a reasonable salary through payroll. - Move money from the business account to your personal account. Never pay personal bills straight from the business. Ask: Your accountant.

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