Congratulations: Your Business, LLC has just made a sale! Time to go shopping—right? Hold up! That money actually belongs to your business, not to you. So how do you get paid? And how do you do it in a legally legit way? That’s what we’re going to talk about today. I’m going to share how I paid myself in the beginning, the step-by-step process I recommend for setting yourself a financial cushion, and how to get to a place where you can pay yourself consistently. 

In this episode, you’ll hear…

• 02:58 - How I started my business and handled money early on
• 07:40 - How I paid myself when I started
• 10:05 - Making an owner’s draw (actually paying yourself)
• 15:13 - Paying yourself is not a business expense
• 18:21 - Being responsible with money
• 19:24 - Putting yourself on payroll

If you’d like a shoutout (and a chance to win a $20 gift card), just leave a review on Apple Podcasts and send a screenshot of it to me on Instagram via DMs!

Click here to find the full show notes and transcript for this episode.

RESOURCES:

• Megan Naasz
• Little Fish Accounting
• Visit ADP for payroll support (affiliate link)
• Episode 53. The Millionaire Myth in Online Business
• Episode 7. The First 3 Steps to Legally Protect Your Business (Where to Start!)
• YouTube Video: This Will Save You Money on Your Taxes

LEARN:

• Read Sam's Blog for the latest legal tips, podcast episodes & behind the scenes of building her seven-figure business.
• Listen to our customer stories to see how getting legally legit has helped 1,000s of entrepreneurs grow their own businesses.

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FAV TOOLS:

• Kajabi // use Kajabi to sell your course, program, or even build your entire website. Get a 30-day free trial with my link.
• SamCart // what I use for my checkout pages and payment processing and LOVE. And no, not because it’s my name.
• ConvertKit // what I use to build my email list, send emails to my list, and create opt-in forms & pages.

DISCLAIMER: Although Sam is an attorney she doesn’t practice law and can’t give you legal advice. All episodes of On Your Terms are educational and informational only. The information discussed here isn’t legal advice and isn’t intended to be. The info you hear here isn’t a substitute for seeking legal advice from your own attorney.

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