How To Pay Yourself from your Photography Business
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- Опубликовано: 8 сен 2024
- 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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#business #accounting #photographer #photography #crm #bookkeeping #Estimated
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!
Thank you so much! Do we reflect "owner draw" in our bookkeeping spreadsheets?
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