Wrestling God
Member
- Joined
- Aug 25, 2009
- Messages
- 52
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HI everybody,
I am working on my business plan at the moment. I have a question about it.
Do you pay yourself wages from the business account or just allocate everything to profit, once the expenses are met?
My situation is such that I don't HAVE to pay myself wages as my husband is employed and he can support me. I want to achieve 70% profit markup so that I can deal with the ups and downs of business, which means to start with at least, I have to put everything in the business account without paying myself any wages.
So I was wondering if there is anybody out there in a similar situation. Is it even a possibility that I don't have to pay myself wages? I am SO confused and I am meeing my CPA next week but I thought of asking your opinion in the mean while.
Jill
I am working on my business plan at the moment. I have a question about it.
Do you pay yourself wages from the business account or just allocate everything to profit, once the expenses are met?
My situation is such that I don't HAVE to pay myself wages as my husband is employed and he can support me. I want to achieve 70% profit markup so that I can deal with the ups and downs of business, which means to start with at least, I have to put everything in the business account without paying myself any wages.
So I was wondering if there is anybody out there in a similar situation. Is it even a possibility that I don't have to pay myself wages? I am SO confused and I am meeing my CPA next week but I thought of asking your opinion in the mean while.
Jill