Your Startup Salary
For solo-entrepreneurs (LLC, Inc., etc), you`ve started you`re business and a lot of the income/revenue is going back to your business. I`m wondering what and how to pay yourself based on your living expenses and what your growing company can afford... I`m thinking a plan with a set salary until the usiness breaks even -- then, earn a share of the profits each fiscal quarter as an owner`s bonus. Once you start a salary to pay yourself, how does it effect your taxes (personal and business)?
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