Paying Yourself via Owner’s Distribution

How should I pay myself? We get this question on a weekly basis from new or potential clients. Especially for Single Member LLCs or sole proprietors, this question comes up often. They think, “I’m not on payroll and I’m worried about taking money out incorrectly.” They are right to tread […]

Three Reasons You Should Be Paying Yourself in Your Business

Are you paying yourself yet? If you’re not, let’s make a plan for how we can change that asap. If you’re looking at your business finances without factoring in a decent pay for yourself, you’re doing yourself and your business a disservice. You would never ask an employee to work […]

2022 Changes to Business Mileage

🚨Big News from the IRS 🚨 The IRS is increasing the standard mileage rate to 62.5 cents starting on July 1, 2022. There will be two rates for the year – and you will need to track your mileage from 1/1/22-6/30/22 and know that number separately, then track 7/1/22-12/31/22, if […]