Yesterday I mentioned that I was learning from those around me. So in yesterday’s post I brought you some gems of wisdom from James Arthur Ray.
Today, we are going to look at one of the issues I struggled with when I first started my business , how much to pay myself. It was such a struggle and there are so many things to consider. You have to look at your tax system, your company structure, the type of company and more, before you can even begin to answer the question posed, much less pay yourself.
I can’t say i got this question right at all. In fact, if I am brutally honest, I don’t think I got this right at all. At the end of the year my tax liabilities were crippling, my out standings greater and it was by a whisper thin hair, that we are still in business today.
This article is a dream for anyone considering starting a business and they are wondering how much to pay themselves. This was most definitely a question on my mind. I really needed such an article at that time. I recommend this article to you would be billionaires. Read it! It has on point advise and is insightful. Please also be aware that you should also go to your financial adviser or accountant in your locality for country specific advice and to get a country specific slant on the information given in the post.
You can read the article here.
Many thanks to startupmindset.com for following me and for the wealth of information i found when I followed them.
Read, learn and grow.
Bye BIP xoxo