How to pay yourself when you have an LLC

2 Sept 2022 · 1 min

Watch on YouTube

0:41

Robert Goldberg explains how to pay yourself from a single-member LLC: transfer money from the business account to your personal account. Keep about 25% in the account for taxes, and don't pay yourself so much that you undercapitalize the LLC and lose liability protection.

Chapters

Here's how to pay yourself when you have an LLC and one thing that you must avoid doing when you do pay yourself. By the way, in this video I am only referring to single-member disregarded LLCs, which is the default situation when you're the only owner. Paying yourself in that situation is super simple. All you have to do is literally transfer from the business account over to your personal account. However, you must avoid paying yourself too much money for a few reasons. First, if you pay yourself too much, then your LLC might be undercapitalized, which would remove the liability protections. Second, you'll want to make sure that you have enough money in the business to pay the business expenses. And third, you'll want to keep at least 25% in the account for when you have to pay taxes.

More from Robert

0:37

youtube.com

Discover if your business needs a trademark 🤔 Watch our latest video & protect your brand 🛡️

3y ago

0:46

youtube.com

LLC or Corporation: Which is right for your business? 🤔 Considerations here! 👉 #BusinessEntity

3y ago

0:27

youtube.com

Unlock the secret to signing contracts with an LLC 🤝🔑 Watch now! #LLCContracts #BusinessTips

3y ago

0:33

youtube.com

Moving your LLC to a new state? 🚚 Discover your options! 🌐 #LLCRegistration #BestLLCState

3y ago

0:27

youtube.com

Dive into the battle of business structures: LLC vs Corporation 🤜💥🤛 Unravel the best choice for you!

3y ago

0:20

youtube.com

Minimize personal liability with your LLC! 🛡️ Learn to sign contracts the right way. 💼✍️

3y ago

0:42

youtube.com

Don't risk it! Protect your website with a privacy policy & TOS 😎🔒 #OnlineSafety #LegallySmart

3y ago

0:44

youtube.com

Debunking the myths: LLCs vs

3y ago

0:42

youtube.com

Discover the secrets to safeguard your assets! 🛡️ Learn LLC essentials now & secure your protection.

3y ago

0:40

youtube.com

Discover the power of LLCs for investment property owners 🏠💼 Unlock maximum protection!

3y ago

0:45

youtube.com

Discover the perfect time to consider registering an LLC! ⏰💼✨ #BusinessTips #StartLLC

3y ago

See all content