Today’s episode of Grow Money Business is all about cash. Many business owners are looking for guidance on how to pay themselves, and how to do it in a tax sensitive manner. This week, Grant shares some important tips on what to do with the cash in your business, how much cash you should have, the appropriate time to take cash out of your business, and more.
[02.21] A rainy day fund – Grant starts the conversation by explaining the importance of having an emergency fund.
[09.42] Extra Cash – Grant shares some tips on how to use extra cash effectively.
[15.31] Setting a target – Grant explains how to set a target for any large upcoming expenses.
[20.40] Pass-through entity – Grant defines a pass-through entity and explains how they work.
[27.12] C-Corporations – Grant shares some tips for what to do with extra cash within your C-Corporation.
How to Pay Yourself as a Business Owner
Salary vs. owner’s draw: How to pay yourself as a business owner
Traction: Get a Grip on Your Business by Gino Wickman