008: How Do I Pay Myself from My LLC

Are you consistently paying yourself the money you deserve as a business owner? Determining how much to pay yourself and how frequently, can be a daunting task.I'm sharing how I've approached paying myself consistently for the last three and a half years! I'm also sharing how I pay myself in slow seasons, plan paid vacations, and give myself bonuses!Clocking In with Haylee Gaffin is produced and brought to you by Gaffin Creative, a podcast production company for creative entrepreneurs. Learn more about our services at Gaffincreative.com, plus you’ll also find resources, show notes, and more for the Clocking In Podcast.Review the Show NotesDisclaimer (1:27)Choose What Works Best for You to Pay Yourself (1:41)Separate Your Business & Personal Finances (2:05)What We'll Cover in this Episode (2:36)Setting goals in your businessBudgeting for your own paycheckMaintaining a consistent paycheck in both slow and busy seasonsPaying yourself for taking vacations.Rewarding yourself with bonuses.Setting Goals in your Business (2:54)Budgeting for Your Own Paycheck (3:29)Determine your business expenses.Determine how much you want to make.Defining A Yearly Salary (4:40)- How much do I need to pay my bills?- How much do I want to save/invest?- How much do I want to splurge?Then add tax.Actually Paying Yourself (5:52)Consistent Paychecks Makes Calculating Taxes Easier (6:16)Don't Touch Extra Income Every Month (6:44)Paying Yourself in Slow Seasons (7:20)Paying Yourself to Take Vacations (9:56)Rewarding Yourself with Bonuses (11:20)Setting a Buffer Amount in Your Business Bank Account (12:10)Women I’m cheering for This Week (13:41)wallsgroupcpas.comOther Episodes Mentioned in this Episode:001: gaffincreative.com/001003: gaffincreative.com/003Linksinstagram.com/hayleegaffinQuickbooks Self-EmployedReview the Transcript at gaffincreative.com/008 Hosted on Acast. See acast.com/privacy for more information.