Well, one of the main reasons why people have to work is to earn money and pay off the daily expenses. Even as a company’s president or CEO, you also have to be paid as well!
Here are the 5 tips, where is show you how to paying yourself and didn’t make you feeling guilty about doing it…
Tip No.1
It is wise not to pay yourself too much, as it triggers IRS scrutiny and penalties!
Tip No.2
You should fully understand that your salary and bonuses are taxed one way, while the distribution as a shareholder is being taxed in another way.
Tip No.3
Do some homework/revision and check out the market’s rates for CEOs in your industry.
Tip No.4
If you’re doubted about it, then you must seek advice from the experienced accountant/lawyer.
Tip No.5
Go and award yourself with the adequate compensation when the business is doing fine, as you’re totally deserved it!
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