How much should I pay myself from my business?

Have you ever asked yourself the question, “How much should I pay myself from my business?” No matter if you are brand new in business or have been around for a while, if you don’t understand your finances you might not be paying yourself correctly.
In this video, I am breaking down how to determine the appropriate amount to pay yourself based on your profit, expenses, taxes and more. We will be reviewing one of my favorite banking systems to make sure you pay yourself first.
// RESOURCES MENTIONED IN THIS VIDEO:
📈 Create your PROFFIT Plan™: jamietrull.com/PROFFIT
Quickbooks Online deals: jamietrull.com/quickbooks
Profit & Loss Template and Dashboard: jamietrull.com/profitloss
Feature comparison between Quickbooks Self-Employed and Quickbooks Solopreneur: quickbooks.intuit.com/learn-s...
// ABOUT ME
Hey! I’m Jamie Trull, CPA & Profit Strategist here to help you with the tools & resources to get you informed, organized and profitable with your business finances.
🛍️ Work with me: jamietrull.com/shop
// WATCH THESE OTHER VIDEOS NEXT //
How I organize my business finances: • Get Your Business Fina...
Master your Business Money Habits: • Unlock Your Small Busi...
// FINANCIAL TOOLS & SYSTEMS I LOVE //
💸 Best Payroll: jamietrull.com/payroll
🏦 No Fee Business Banking: jamietrull.com/banking
📚 DIY Accounting: jamietrull.com/quickbooks
💳 Best Business Credit Cards: jamietrull.com/creditcards
🎁 More Things I love. Get my FREE GUIDE: jamietrull.com/bestoffers
// SHOP MY STUFF //
📊 Profit & Loss Template and Dashboard: jamietrull.com/profitloss
🗂️ Inventory Management Worksheet: jamietrull.com/inventory
👶 Hiring Your Kids Toolkit: jamietrull.com/kids
📝 Ultimate Getting Ready for Taxes Bundle: jamietrull.com/taxtime
💪 Financial Fitness™ Basics: jamietrull.com/basics
🔧 S Corp Toolbox: jamietrull.com/scorptoolbox
// CHOOSE YOUR ADVENTURE //
🔎 Discover Your Money Superpowers jamietrull.com/quiz
📈 Create your PROFFIT Plan™: jamietrull.com/PROFFIT
✅ S Corp Success Checklist: jamietrull.com/scorptoolbox
👪 7 Tax Strategies for Hiring Your Kids: jamietrull.com/kidstaxstrategies
🚀 Guide to Reducing Taxes for Business Owners jamietrull.com/taxsavings
📅 Annual Planning Guide: jamietrull.com/annualplanner
💲 Determine if it’s time to modify your pricing: jamietrull.com/byhour
🤝 Need a trusted Financial Professional to help you? Check out my Preferred Vendor list here: jamietrull.com/preferred-vendors
🔗 Oh! And follow me:
Website: jamietrull.com/
Instagram: / jamie.trull
Facebook: / balancecfo
Free Community: / financialliteracyforwomen
Blog: jamietrull.com/blog
*Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank, Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.
** This video is proudly sponsored by Relay Financial. However, all ideas and opinions expressed are entirely my own and are not influenced by any sponsorship arrangements. While Relay Financial has graciously supported this content, the views presented are genuine and independent. Out of respect for our viewers, we only collaborate with companies that we truly believe in. Thank you for watching and supporting the sponsors who make these videos possible.
***DISCLAIMER: This video is meant for educational purposes only. This is not to be relied on or considered a substitute for advice on your specific situation from your tax advisor.
#payyourselffirst #profitfirst #jamietrull

[@manwood-tl3sj]

Hello, I have a question. If the local government of a city wanted to incentivize stores and businesses to have discounts for certain people, which taxes should be lowered?