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| Ek's Home | Forum | Chat | Electrical Links | |
| Subject - salary or hourly | |
| Greg | This may be a silly question , but here goes. Do most owner/operator of an electrical company pay them selves a salary or hourly wage? I'm just starting my business in couple of weeks and this is a gray area for me. |
| kiwisholland | Did you get together w/ an accountant yet? We are an S-corp, and our accountant set us up so that I draw a minor salary to start - payroll. We also run what we can thru the business to offset the lower salary. You don't want to pay taxes on that higher salary unless you have to. |
| Greg | We haven't discussed that part yet. I'm set up as an LLC. He gave me a lot of reasons why that would be best, but most of it was over my head. Thanks for the input. |
| MONOLITH | quote: Do yourself a favor; educate yourself on the the things that have enormous impact on your business and money. It's okay to have an accountant, but understand the "why's" of what he does with your money, and your business. |
| Romex Racer | If 51% of the work you do is non routine you can pay yourself a salary. You are in a management position and are exempt. |
| MONOLITH | Exempt from what? |
| blackrd | exempt from getting your hands durty? |