When should a business owner be entitled to salary?

[zenith]

You are absolutely right.this method is really good especially for new business even big business as well.there are many business owner today who feel they can take money any time they want and spend lavishly and before you know the business collapse.

 

[Waqarhussain]

You should only pay yourself out of your profits - not your revenue. When you see money coming into your business, don't assume you can pay yourself a big slice of that. Before you take your cut, you also need to take account of things like taxes, payroll, fixed costs and overheads.

 

[Sunnytee]

There is no specific time or period for a business owner to be expecting income

It's based on the target of the business itself and how the sales come p

Because possibly in a day a business owner can even have his money or income just depending on how there sales move

 

[Onachukwu]

Even if you’re still in the startup phase and living off personal savings, paying yourself from the beginning has decided advantages you can’t afford to miss. Paying yourself can have tax benefits, as well. Check with your accountant to see what benefits to which you may be entitled.

 

[Abbeyola]

To me, a business owner taking out of the business earnings for personal projects at an early stage of the business is STEALING FROM THE BUSINESS.

A business owner who wants the business to grow won’t be tempted to use the business earnings for personal projects. The owner should be entitled to salary when the business is having steady cash flow.



Have you been stealing from your business?

A business owner or entrepreneur is entitled to a fixed income salary,when the business organization can convienently generate a good amount of income and make substantial profit that can foot it bills and still have enough.

 

[ahmedo24]

You should only pay yourself out of your profits - not your revenue. When you see money coming into your business, don't assume you can pay yourself a big slice of that. Before you take your cut, you also need to take account of things like taxes, payroll, fixed costs and overheads.

This is the best strategy a business owner can use and make a meaningful gain from his investments pay himself from the profit just the way he pay normal workers, this is far better than just dipping hand into the total revenue generated because he needs to employee himself and counting self as a worker in the company despite he is the owner.

 

[Umerfarooq]

You just have to be more discriminating with the help you render toward other people. When you see money coming into your business, don't think that you can afford it. Before you get your cut, you also need to take into account things like taxes, payroll, fixed expenses and overhead

 

[EMMANUEL]

I believe a business owner should be entitled to salary when only when there is income in the business, what do I mean by income in the business, what meant is that a business owner should be entitled when the rate which the profit maximization is worth salary.

 

[Psalmseen]

A business owner should actually be entitled to salary at the end of a particular financial period but it depends on the type of business.. Some business accounts are to be prepared monthly while some are to be prepared annually. It is at the end of a financial period that a business owner should pay himself or herself a fixes salary.

 

[miztersam]

I can say yes you can pay yourself a salary but may not be called a salary , but a cut after you have taken account of things like taxes, payroll, fixed costs and overheads. after a successful business month A sole proprietor gets can then take a cut or "paid" by drawing money from the business.

 

[Akinwale701]

To me, a business owner taking out of the business earnings for personal projects at an early stage of the business is STEALING FROM THE BUSINESS.

A business owner who wants the business to grow won’t be tempted to use the business earnings for personal projects. The owner should be entitled to salary when the business is having steady cash flow.



Have you been stealing from your business?

the best approach to owning a business is when the business owners himself receives salary at the end of the month. This is in accordance with the provision of business entity concept in financial accounting which states that a business is separated from its owner's

 

[Makorlly]

A business person can himself salary immediately he start the business. The payment will come out through his income sales after the capital is being extracted out from. Paying yourself in your business is like paying an employee, that is you are the employee to your business.
If you calculate your business incomes very well you will be enable to handle your business even with you paying yourself and still have an healthy business growth

 

[tuna89]

The business owner has the right to make rules which are beneficial for the business and for every employee, he can choose to allocate monthly salaries for himself from the profits of the business and he can also choose not get salaries from the business but may have to take from the profits to satisfy his expenses at intervals but in a way that it won't affect the activities and growth of the business.

 

[Shayo]

I don't think it is stealing, if you as a business owner feel you should be getting some percentage every month, then it is fine. It doesn't have to be much, it can be used as savings for feeding or whatever, so when you need money, you don't have to touch the business funds.

 

[Bart Simpson]

In the new age, dipping your hands into funds intended for the company is not anything to be looked down on, but it's a simple error that business owners create that can be prevented. To be able to remain stable with your money, it is necessary to have a separate source of income, as you allow your company to expand.

 

[adazeez1995]

Yea, a business owner have got to be disciplined and make sacrifices. Thereby putting his business first. Afterall, when it fails you would be the one to be under pressure and left with nothing. So, I believe, that a business man should not be paying himself yet until the business have recorded some considerable success

 

[Veetos12]

To me, a business owner taking out of the business earnings for personal projects at an early stage of the business is STEALING FROM THE BUSINESS.

A business owner who wants the business to grow won’t be tempted to use the business earnings for personal projects. The owner should be entitled to salary when the business is having steady cash flow.



Have you been stealing from your business?

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I have once been advised by a business studies teacher in my school on this similar issue. He said a business owner must try as much as possible to be earning salary from his business like every other staff members. He said it will be a motivation for him or her to work like other people in his business. He will also have the ability to control his finances by working and earning.

 

[abegunrinmicheal]

A business owner should should start receiving salary from the business when never he has started making profits, after settling staff salaries, and other expenses paid out, he is the last person to receive salary, one of a good characteristics of business person is that he should not be quick to receive salary, in order for the smooth operation of the business.

 

[Lyrrex]

a business owner will only be benefiting from his or her business business and that can be his or her own salary but there is no special arrangement for the owner of a particular business to have a salary or pension because the business is under his control and he can decide how much he actually need to earn in a month.

a business owner will only be benefiting from his or her business business and that can be his or her own salary but there is no special arrangement for the owner of a particular business to have a salary or pension because the business is under his control and he can decide how much he actually need to earn in a m

 

[adeniji]

Before joining any business organization as wkrkers, their must most be a conversation on when would I be collection my salary? Daily, monthly or weekly all thesethese most be known for salary reward for workers participants.