How To Pay Yourself from your Photography Business

It is important to know how to properly pay yourself and account for it in your photography business. You should also understand how taxes flow, which we cover in this video.
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[@mike_paschos]

Hi Tiffany! Great content. When you "set aside" the hypothetical 35-45% for taxes what is your method for doing that account wise? If I want to take out $1000 of net profit, should I first transfer the estimated taxes (35-45%) to a dedicated business savings account like $400 for example and then withdraw the rest of the $600 to my personal account? How do you stay organized and also is there a simple way to do this on a rolling monthly basis? I am a single member LLC. TIA!

[@lawsthatattract_]

Thank you so much! Do we reflect "owner draw" in our bookkeeping spreadsheets?

[@bastianaccounting]

Well, this is really meant for you you see, proper bookkeeping like - QuickBooks Online Owners draw goes on your balance sheet so you want proper bookkeeping so you have P&L and Balance sheet