How to Pay Yourself in a Single Member LLC | How to Pay Yourself as a Business Owner

Let's break down how to pay yourself as a business owner and how to pay yourself as an LLC.
How to Pay Yourself as a Single Member LLC: Download the FREE written guide at bit.ly/37ZzCxV
Looking for more resources to help you start and run your business? I've put together a list of my FAVORITE business things! Check it out at bit.ly/3b83oXQ.
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Get lawyer-drafted and Aiden-approved contract templates for your business from the CEO Legal Loft. bit.ly/3lEBxnr
Ready to open a bank account for your new business? Novo makes it incredibly easy. You can apply online in minutes with or without an EIN. And the best part, it's totally FREE. No monthly fees, no minimum balance requirements, free ACH transfers, and more. Use my affiliate link to open your free business checking account today! bit.ly/2P8OBlh
Use our DIY tool to form your LLC today! Visit bit.ly/374A4uH I’ve partnered up with a GREAT company, Legalinc., to provide a super-easy and budget-friendly way to set up your own LLC in any state!
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 1580 N. Logan St., Ste 660, PMB 92925, Denver, CO 80203. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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#AllUpInYoBusiness #Entrepreneur #LLC

Пікірлер: 379

  • @LBC13
    @LBC134 жыл бұрын

    So overwhelmed with all this LLC stuff 😖 Got so much to do and so much to learn.

  • @LyntoyaLockett

    @LyntoyaLockett

    4 жыл бұрын

    Same here I hope you gotten it all done. Where as I’m just getting started 🤦🏽‍♀️🥺

  • @chaseshoffner5094

    @chaseshoffner5094

    4 жыл бұрын

    Y’all can totally do it! I just turned 20 and started my own business. it’s scary at first but once you get a foot hold then go for it I highly recommend finding a reputable CPA to answer any questions and give honest financial advice and instruction. Yes I know another expense but it’s worth the investment! DO NOT USE 1800- ACOUNTANT, and get QuickBooks set up correctly with a CPA first off! Good luck! Stay hopeful

  • @grapeseed427

    @grapeseed427

    3 жыл бұрын

    ...and run a business at the same time!

  • @TraeDaMenace

    @TraeDaMenace

    3 жыл бұрын

    I feel you on this

  • @kelvinadams4877

    @kelvinadams4877

    3 жыл бұрын

    Same here but we going to get there soon keep pushing.

  • @it6970
    @it69703 жыл бұрын

    Sis, you are a godsend! You answer all the questions everyone else fails to answer & you aren't trying to hard or yelling at us. I love your videos!

  • @martingriffin7849

    @martingriffin7849

    2 жыл бұрын

    Easy on the eye too!!

  • @andrasbodo
    @andrasbodo2 жыл бұрын

    The happiest attorney I have ever seen in my life :) Congratulations ! it a pleasure listening to your law lessons on business

  • @ndavis894
    @ndavis8944 жыл бұрын

    You are a blessing dropping all of these gems! I've learned so much from you. Thank you for the info.

  • @savan2775
    @savan27752 жыл бұрын

    Thank you for explaining so thoroughly. I am a new salon owner as a single member LLC. I am determined to do everything as correctly as possible. Your video eased my anxiety and worries surrounding the taxation of the business. I have a lot to learn but I can tell you are a good person to gain knowledge from on the basics of distribution of funds. Thank you again, I am definitely going to follow your videos. Also thank you for the free resources to help myself.

  • @EvangelistKia
    @EvangelistKia4 жыл бұрын

    thank you so much Novo is wonderful. I was able to set up my account and get approved in two days. thank you... Profound Truth, LLC is now in business !

  • @allupinyobiz

    @allupinyobiz

    4 жыл бұрын

    Amazing, I'm really happy to hear that! Congrats girl!!

  • @LyntoyaLockett

    @LyntoyaLockett

    4 жыл бұрын

    🎉👸🏽

  • @JustAnotherDay2023

    @JustAnotherDay2023

    3 жыл бұрын

    @@allupinyobiz I am a non-resident. If I setup a single member LLC, and: 1. I receive from Amazon $100,000; 2. I pay myself "salary" of $10,000: 3. The cost of the product including shipping is $50,000; then my profit is $40,000. Assume there are no other deductibles, and $60,000 is the total LLC expense Question: a. Will I as US non-resident, get taxed on the salary payment of $10,000? What is the tax rate on the salary? If the salary payment is made to my country of residence bank account (sub-question: is this even allowed, and if not would that mean I need to also open a personal bank account in the US?) will it still get taxed by IRS? b. What is the tax rate on the profit of $40,000 for me as US non-resident? It is unclear whether your explanation on taxation applies to both US resident and non-resident.

  • @nancywhite8697

    @nancywhite8697

    2 жыл бұрын

    Morning! sounds good Was you able to get your paper-work by postal mail

  • @adriennerose5189
    @adriennerose51894 жыл бұрын

    You are seriously the only person on KZread that has been able to explain LLCs in a way that makes sense and easy to follow. Keep doing what your doing and I just subscribed for more videos to come and previous videos made! Thank you!

  • @brianlandis3057

    @brianlandis3057

    3 жыл бұрын

    I know, RIGHT?!! :D

  • @DreamInspired
    @DreamInspired4 жыл бұрын

    Aiden, I love your channel! I own a trucking LLC and just moved from FL to GA. Your video on 3 ways to move an LLC a while back was instrumental and my key reference point. I’m just wanted to say think you for your videos!

  • @nancywhite8697

    @nancywhite8697

    2 жыл бұрын

    Morning sounds good! so how is it out there in Ga, I'm currently want to relocate that way too

  • @JackieLifeCoach
    @JackieLifeCoach2 жыл бұрын

    You went to lots of efforts to help all newbies in owning a business, LLC. I was so pleased for all your help and advice. I am ever so grateful for this information. Thank you so much.

  • @AllyssaALewis
    @AllyssaALewis3 жыл бұрын

    This is the clearest delivery I've ever heard on how to pay yourself in a single-member LLC! I am so thankful for you making this video!

  • @rachelbeck7747
    @rachelbeck77473 жыл бұрын

    In first year of real estate and created an LLC - this is SO helpful and needed. Cannot thank you enough!

  • @TraeDaMenace
    @TraeDaMenace3 жыл бұрын

    Im a new business owner with out the knowledge of knowing nothing..this was my biggest question..thank you so much for helping me understand more

  • @alonhansen4419
    @alonhansen44193 жыл бұрын

    I got immediately homesick as soon as you welcomed us. Thank you for sharing and offering a tutorial in a way that is easier to grasp. Thank you from St.Croix, USVI to you at my home home of Denver/ Aurora CO! Subscribed

  • @rodtumlin9608
    @rodtumlin96083 жыл бұрын

    Wonderful article. I appreciate your energy and commitment to assist small business owners.

  • @shadowsidesoamplified
    @shadowsidesoamplified3 жыл бұрын

    Spending the next couple of months to learn everything i can about business ownership. I'm making my dream of owning a plant shop come true! Thank you much for all your info it is priceless!!

  • @yanachriswhelan4715
    @yanachriswhelan47152 жыл бұрын

    Good to be here, this is exactly what I needed today. I am starting a small business in the niche of mentoring and coaching program. At this stage I am exploring with the business plan, developing the website and intellectual property for the coaching session with the brand name that I am interested to test prior the trademark process. Thank you very much, Yana.

  • @jeremyv2040
    @jeremyv20404 жыл бұрын

    Great job. Newbie. Glad I've come across you. Always nice to hear a different take on things. You never know how much you can really learn.. If you want. Thanks a lot.

  • @bobtpapa
    @bobtpapa3 жыл бұрын

    great videos. This is the second one I've watched. You do a great job staying on task and making things simple to understand...

  • @aliyahthegardenist
    @aliyahthegardenist4 ай бұрын

    You're the only one I've seen on KZread who broke down the employment tax in such a clear way. I've watched about 100 videos on this topic😅. Thank you for being thorough❤

  • @evocre8r
    @evocre8r3 жыл бұрын

    This... Was.... Wait for it..... AWESOME!!!!!!!!!!!!!!!! Thanks so much. I'm helping wifey with her new LLC and your channel is exactly what we need. Liked and subscribed. Thanks!

  • @cypsrp7924
    @cypsrp79243 жыл бұрын

    Really appreciate your clear cut definitions and explanations. Thank you. Good stuff.

  • @morganhaydenmusic4166
    @morganhaydenmusic41663 жыл бұрын

    These videos are so great! Thank you for making it clear

  • @heatherrousselo8394
    @heatherrousselo83943 жыл бұрын

    Thank you for the NOVO referral!! I love your videos. So helpful and I appreciate you taking the time to put this info out for all!

  • @josephtaylor3491
    @josephtaylor34913 жыл бұрын

    You won me overfrom the other business lawyers I would listen to because of the details and intricacies you often give along with the subject matter. Keep up

  • @allupinyobiz

    @allupinyobiz

    3 жыл бұрын

    Awesome, I love that! Thanks so much for watching! 😁

  • @juliussmith3627
    @juliussmith36273 жыл бұрын

    Thank you so much Aiden! This has given me great insight as to some of the things I need to consider and how I need to proceed in my business. You rock!!

  • @rachellucero3722
    @rachellucero37222 жыл бұрын

    your videos have helped so much, thank you for putting so much time and effort into sharing your knowledge!

  • @sonyagorski6936
    @sonyagorski69363 жыл бұрын

    Thank you for taking your time to create helpful videos!

  • @lelyansaunders321
    @lelyansaunders3213 жыл бұрын

    Thank for some well needed info. Yo’ got yourself a new subscriber here!

  • @theresasheffey2032
    @theresasheffey20323 жыл бұрын

    Thank you! I appreciate the way that you explain everything.

  • @dkwilliams9819
    @dkwilliams98193 жыл бұрын

    Third vid of hers I've watched, liked & subscribed. Fantastic information and presentation.

  • @SuperChamp49
    @SuperChamp493 жыл бұрын

    She's so cool, knowledgeable, and cute. The info that she's provided on the 3 videos that I've watched have been soooo helpful and easy to understand. I've been taking notes, and I'll be better prepared when speaking with resources to progress my business plan.

  • @Missionispossible7
    @Missionispossible73 жыл бұрын

    I have watched several of your videos....You Rock. Thanks for sharing such valuable information.

  • @naskeelove6363
    @naskeelove63633 жыл бұрын

    I am so happy I ran across your channel you will be a big help to my small business which is In Home Care Services

  • @ephitania
    @ephitania3 жыл бұрын

    Thank you so much for giving us your time and helping us through this daunting trail of letters, forms and other legaleses

  • @Oahu-vj9ee
    @Oahu-vj9ee2 жыл бұрын

    Awesome 👏 your videos help out a lot. Like how you break down and explain it all in sections!!! Very helpful Mahalo 🤙🏼keep up the good work!!!

  • @cryptowannabee7189
    @cryptowannabee71893 жыл бұрын

    Appreciate this valuable info and the great freebies! Thank you!!!!

  • @skhonouta
    @skhonouta Жыл бұрын

    Great video! Very informative for me as I just started my own small business.

  • @monicaalva2423
    @monicaalva24233 жыл бұрын

    Thank you so much for uploading these videos. They contain very useful information. :)

  • @Omarfx007
    @Omarfx0074 жыл бұрын

    Thank you, you've been so much help 🙏

  • @MsVision101
    @MsVision1013 жыл бұрын

    Great and informal video. I learned way more than I expected to!

  • @Taxplanninginternazionale
    @Taxplanninginternazionale4 жыл бұрын

    Congrats, I appreciated your explanation a lot!

  • @allupinyobiz

    @allupinyobiz

    4 жыл бұрын

    Glad to hear that!

  • @Jay-dn1fr
    @Jay-dn1fr Жыл бұрын

    Very interesting and helpful tips, Aiden. Thank you very much for sharing the knowledge.

  • @martinkrins3915
    @martinkrins39153 жыл бұрын

    Thank you, I learned more from you then others on line

  • @alejandramachado802
    @alejandramachado8023 жыл бұрын

    you are incredible, this was so helpful! thank you! Subscribed for sure!

  • @hoodboundstreetwear1570
    @hoodboundstreetwear1570 Жыл бұрын

    Love your videos. Great information, well presented.

  • @danielpulido7710
    @danielpulido77103 жыл бұрын

    Good stuff! Thanks for dropping the 411 on single-member LLCs.

  • @juliatran6617
    @juliatran66173 жыл бұрын

    Thank you thank you thank you! 🙌 this has been very great legal advice!

  • @lindsaym11
    @lindsaym113 жыл бұрын

    THIS VIDEO IS A LIFESAVER!

  • @QueenFaby
    @QueenFaby4 жыл бұрын

    Sooo much good information. Writing all this down. Thank you!

  • @allupinyobiz

    @allupinyobiz

    4 жыл бұрын

    Make sure you download my free guide too! That way you won't have to write it all down. :-) you can get the download at bit.ly/37ZzCxV

  • @Name-hl9us
    @Name-hl9us3 жыл бұрын

    Excellent video! Thank you for answering so many questions!

  • @josephtaylor3491
    @josephtaylor34913 жыл бұрын

    Your added insights are very helpful...

  • @TadashiYasahiro
    @TadashiYasahiro3 жыл бұрын

    Thank you so much for breaking this down !!

  • @krustysurfer
    @krustysurfer3 жыл бұрын

    Keeping meticulous records is key along with staying organized.

  • @nabisyed640
    @nabisyed6403 жыл бұрын

    LOVE YOUR CHANNEL, Thanks for everything. (better than my other nighttime videos)

  • @tammydayton1683
    @tammydayton16832 жыл бұрын

    Fantastic video filled with excellent information.

  • @ronorick224
    @ronorick2243 жыл бұрын

    Great information! Thank you for sharing your wealth of knowledge.

  • @19560618
    @195606183 жыл бұрын

    Really appreciate your comments and knowledge on this "LLC business thing"", this is extremely helpful when I am now starting my Real Estate investments. Thank you Again All and Up

  • @Kayraine
    @Kayraine4 жыл бұрын

    I heard "on this episode of all up in yo business" and cracked up. Subscribed.

  • @antonywoe9353

    @antonywoe9353

    3 жыл бұрын

    Cute

  • @dhuratadobbins3001

    @dhuratadobbins3001

    3 жыл бұрын

    Same!!! 🤣🤣

  • @Darksun30

    @Darksun30

    3 жыл бұрын

    I thought I was the only one.

  • @teampermaulrealestate
    @teampermaulrealestate2 жыл бұрын

    Great overview of single member LLC! Thank you very much.

  • @tammyislandsewingtutor
    @tammyislandsewingtutor3 жыл бұрын

    Very clear and concise. Good thing I have a little understanding.

  • @gigigigi5181
    @gigigigi51812 жыл бұрын

    This video was helpful! Thank you so much for the info.

  • @5914DL
    @5914DL4 жыл бұрын

    Thank you Aiden. Great stuff.

  • @juliejohnson2251
    @juliejohnson22513 жыл бұрын

    Great job! Well explained. Thank you so much. 👍👍

  • @lanec6278
    @lanec62782 жыл бұрын

    Awesome video and information. Thank you!

  • @Alexis-xq2jt
    @Alexis-xq2jt3 жыл бұрын

    omg this was so helpful. Thank you so much!!

  • @TheOneSoulMate_
    @TheOneSoulMate_3 жыл бұрын

    Love what you do! I am so happy I found you. I’m taking lots of notes and working on setting up my Operating Agreement. Doing that and following it to ensure I am documenting/recording properly and have defined operating procedures. Being set up properly and having the paperwork to reflect all expenses, payments etc...I see the value of setting the foundation properly so everything is always in order of how my business is run! Thank you again!! You’re awesome!

  • @ahsantheanalyst7199
    @ahsantheanalyst71993 жыл бұрын

    learned so much. Thank you coach

  • @bradleybryant7538
    @bradleybryant75384 жыл бұрын

    I love your content. Thank you so much

  • @triv1797
    @triv1797 Жыл бұрын

    This was great! Thanks

  • @Bormanb23
    @Bormanb232 жыл бұрын

    Awesome video. Thank you

  • @vegancookingwithroux2564
    @vegancookingwithroux256411 ай бұрын

    Really awesome video helped a lot

  • @sherleyroper5510
    @sherleyroper55103 жыл бұрын

    Very helpful content. Thank you!!!

  • @jewelguy6391
    @jewelguy63913 жыл бұрын

    This is very helpful! Thank you.

  • @TheOneJPtv
    @TheOneJPtv2 жыл бұрын

    Wow you're like another Professor here on KZread University. I understood you from start to stop. Thanks!

  • @uzziyahuim-ul4666
    @uzziyahuim-ul46663 жыл бұрын

    Aiden! Kool name by the way. Once again you’ve done it. Mad easy to understand, and when it comes to people like me.....llc’s for dummies. Thanks a ton.....r u supergirl, come on, you can tell me !?!

  • @AsiaLoren
    @AsiaLoren4 жыл бұрын

    Another great video, thanks!

  • @ronaldthompson6246
    @ronaldthompson62464 жыл бұрын

    Thank you for this!

  • @yasminrene
    @yasminrene3 жыл бұрын

    this is soooo helpful! thank you so much 😊😊😊

  • @penneyw2795
    @penneyw27954 жыл бұрын

    Excellent introduction!

  • @waltergonzalez3820
    @waltergonzalez38203 жыл бұрын

    Thank you. Very useful!

  • @Jazmeyne
    @Jazmeyne3 жыл бұрын

    Very informative, thank you!

  • @EryiMartinez
    @EryiMartinez2 жыл бұрын

    I’m new to starting my business first year. How about when is the best time to pay yourself? Like a few times throughout the year or one time ?

  • @hectorccruzer
    @hectorccruzer3 жыл бұрын

    VERY HELPFUL, thank you

  • @drubills2749
    @drubills27493 жыл бұрын

    thanks for the break down

  • @bryatv5143
    @bryatv51434 жыл бұрын

    Thank you sister ♥️

  • @kevinl4893
    @kevinl48934 жыл бұрын

    great video!

  • @brandonlivingston5163
    @brandonlivingston51634 жыл бұрын

    Very Insightful ! Thanks!

  • @allupinyobiz

    @allupinyobiz

    4 жыл бұрын

    Glad you enjoyed it!

  • @deborahbrittenham3691
    @deborahbrittenham36912 жыл бұрын

    Wow! I have learned so much more here on your videos then I have in the last 4 1/2 years of business classes. You explain it as it should be explained in simple terms. I am so relieved to have found you here. Thank you ..

  • @terryjoejoe6953
    @terryjoejoe69533 жыл бұрын

    That was great! Thanks 😊

  • @kyle1562
    @kyle15622 жыл бұрын

    Thanks, Fran!

  • @deegee67
    @deegee673 жыл бұрын

    This was very good information.. but its a lot. When registering for your EIN, can you change your structure at a later date? Meaning if I don't want accept the default classification of disregarded entity.. at a later date... can this be changed?

  • @felipesuarezweb
    @felipesuarezweb2 жыл бұрын

    *Hi Aiden, thanks for the great video, what happens if in my single member llc I am a not american or live in the US? I am a Costa Rica citizen. Would I still have to pay taxes?*

  • @isd605
    @isd6052 жыл бұрын

    Ah, thank you! I will be setting up an auto-pay schedule to pull the minimum for paying down my HELOC. Now I know it is called a "member distribution". Perfect! I guess I was overthinking the "comingling" element, which this would not be comingling of funds.

  • @AnthonyCarrTV
    @AnthonyCarrTV4 жыл бұрын

    I'm sharing you to my wife... (Manager!) so we can get all this stuff down right! Thanks!

  • @guttedfitness
    @guttedfitness3 жыл бұрын

    Can you do a video on interns vs contractors vs employees as a single member LLC, esp as it relates to taxes ?

  • @tchristian7434
    @tchristian74342 жыл бұрын

    Very helpful.

  • @theodorecarbajal2975
    @theodorecarbajal29753 жыл бұрын

    Thank you so much! Very bright and clear and Beautiful as well!!

  • @allupinyobiz

    @allupinyobiz

    3 жыл бұрын

    Thanks so much for watching and for the kind comment!

  • @robcommorat2084
    @robcommorat20844 жыл бұрын

    Great information

  • @georgesantiago6083
    @georgesantiago60834 жыл бұрын

    I can watch you all day.

  • @brianlandis3057

    @brianlandis3057

    3 жыл бұрын

    (Yes, she has that way about her, doesn't she?!) :)

  • @TheRabunFamily
    @TheRabunFamily4 жыл бұрын

    Thanks for the video! We are going to use the link for NOVO :)