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Accounting & Bookkeeping & Small Business Forum
Accounting, Bookkeeping, Marketing, and Small Business Resource
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Guest
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| Posted: Mon Feb 16, 2004 9:26 am Post subject: How do you pay yourself in your business? |
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Hello Everyone!
Those of you that have a bookkeeping service business......how are you getting paid?
Does the client write a check out to your business name and you deposit that in your business account and pay expenses and take a draw?
OR does the client pay to your name and then you get a 1099 as a sub contractor? OR....????
I'm trying to figure out how to set this all up.
Thank you very much!
Gina |
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Guest
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| Posted: Tue Feb 17, 2004 1:24 pm Post subject: RE: How do you pay yourself in your business? |
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| I am just starting my bookkeeping business, but the way that I am going to do it is to have the client's either make a check to me personally or to my business name (doesn't matter) and then dp into the business bank account. When you need some money, just record it as a owner's draw-you'll be taxed when you do your taxes at the end of the year on Schedule C as an addition to your individual taxes if you are just a sole proprietor. |
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