The Simple Way to Pay Yourself
One of the most common questions from new entrepreneurs is, 'How do I pay myself?' The either/or dilemma is often between taking cash (non-compliant) and writing a formal check (compliant). The compliant method is remarkably simple.
Your business checkbook should be used for business purposes only. When you need to pay yourself, simply write a check from the business account to your personal account. This Simple action maintains the separation that is critical for audit protection. This discipline transforms your checkbook from a simple payment ledger into the cornerstone of a bulletproof financial system.
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DISCLAIMER: This content is for educational purposes only and should not be considered personalized financial advice. Always consult with a qualified financial professional before making financial decisions.