Summary of Greg Crabtree's Simple Numbers, Straight Talk, Big Profits! (eBook, ePUB)
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Please note: This is a companion version & not the original book.Book Preview:> The owner's salary is a key building block for your business. It is important to understand that you are paid a salary for what you do, and you get a return on what you own. As long as you don't pay yourself a market-based wage, your financial data is worthless.#2 If your company is an S corporation, it's a bad plan to pay low wages to avoid payroll taxes. The IRS will look for this when they audit your tax return.#3 The owner's salary is a key building block for your business. You must determine your market-based ...
Please note: This is a companion version & not the original book.
Book Preview:
> The owner's salary is a key building block for your business. It is important to understand that you are paid a salary for what you do, and you get a return on what you own. As long as you don't pay yourself a market-based wage, your financial data is worthless.
#2 If your company is an S corporation, it's a bad plan to pay low wages to avoid payroll taxes. The IRS will look for this when they audit your tax return.
#3 The owner's salary is a key building block for your business. You must determine your market-based wage before you plug it into your financials.
#4 You must pay yourself a market-based wage in order to have accurate financials. And as long as you don't pay yourself a market-based wage, your financial data is worthless.
Book Preview:
> The owner's salary is a key building block for your business. It is important to understand that you are paid a salary for what you do, and you get a return on what you own. As long as you don't pay yourself a market-based wage, your financial data is worthless.
#2 If your company is an S corporation, it's a bad plan to pay low wages to avoid payroll taxes. The IRS will look for this when they audit your tax return.
#3 The owner's salary is a key building block for your business. You must determine your market-based wage before you plug it into your financials.
#4 You must pay yourself a market-based wage in order to have accurate financials. And as long as you don't pay yourself a market-based wage, your financial data is worthless.
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