Company Of One With Dale Callahan

So you have a business and it is making money. But you are asking "How Much Should I Pay Myself?" And related are the questions of a) how much you should invest back into the business and b) how much you should save for taxes. While every business is a little different, I will share some basic principles that are easy to manage and do and will keep you motivated to keep going. [Tweet "Business owners should take 50% of the revenue #Payday #smallbusiness @MikeMichalowicz"] In Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine Mike Michalowicz provides a basic plan for handling the money your business makes - including a formula that answers that question "How much should I pay myself?". Two VERY common problems we see in small business finances: The business owner pockets all of the income and then does not have money for taxes at the end of the year. The business owner uses all of the money to grow the business and never sees any of the rewar