Tax question for a small business?????

[maverick2112]

Are you better off paying yourself a weekly wage or just leaving the money in the business account and taking it out as needed.

Any small business owners here that have the best way of doing this for tax purposes......

 

[The Boys]

This is a question for your CPA........all businesses are set up differently, there is not a pat answer to your question.

 

[BobbyBlueChip]

From an operational perspective, it's better to take out a weekly wage so you have a better quick analysis of how the business is doing just by checking cash in the bank without having to take into account your disbursements.

If your corp is incorporated and files it's own tax return, I can't think of a situation where it would be better to leave the money in the Company.