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Why Should a Business Owners Take a Salary?
Is your business a personal ATM or a sustainable enterprise?
For many entrepreneurs, the line between personal and business finances is dangerously blurred, but failing to pay yourself a formal salary is a move that can hinder your company's growth and complicate future exit strategies.
In this episode, we are breaking down the strategic and tax-related reasons why business owners must take a W-2 salary. We explore how "owner add-backs" affect your valuation during a sale, the impact of reasonable compensation on IRS compliance, and why a formal salary is a prerequisite for securing SBA financing and other traditional business loans.
Joined Today by Paul Long
#BusinessOwner #Entrepreneurship #SmallBusiness #Payroll #BusinessFinance #TaxStrategy #SBA #Podcast
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By Seth RudinIs your business a personal ATM or a sustainable enterprise?
For many entrepreneurs, the line between personal and business finances is dangerously blurred, but failing to pay yourself a formal salary is a move that can hinder your company's growth and complicate future exit strategies.
In this episode, we are breaking down the strategic and tax-related reasons why business owners must take a W-2 salary. We explore how "owner add-backs" affect your valuation during a sale, the impact of reasonable compensation on IRS compliance, and why a formal salary is a prerequisite for securing SBA financing and other traditional business loans.
Joined Today by Paul Long
#BusinessOwner #Entrepreneurship #SmallBusiness #Payroll #BusinessFinance #TaxStrategy #SBA #Podcast