154. 6 Mistakes to Avoid When Paying Yourself

Are you scratching your head about how to pay yourself as a business owner? Confused about whether you're doing it right—or if you're setting yourself up for a financial disaster? You're not alone! I'm here to clarify this critical yet often misunderstood aspect of running a business. In this episode, we dive deep into the six biggest mistakes people make when it comes to paying themselves and how to avoid them. Whether you're guilty of paying yourself too much or too little, or just plain confused about tax implications, I've got you covered. Let's set your business up for financial health and success!In this episode, you’ll hear…Finding the right amount to pay yourselfUnderstanding the tax implications of paying yourselfWhy it’s important to reinvest in your businessIf you’d like a shoutout (and a chance to win a $20 gift card), just leave a review on Apple Podcasts and send a screenshot of it to me on Instagram via DMs!Click here to find the full show notes and transcript for this episode.RESOURCES:Paying Yourself 101 [Everything Business Owners Need to Know]Get $25 off Cometeer CoffeeClick here to watch the free workshop so you can get legally protected right now!Get notified when each episode of On Your Terms® comes outCONNECT:Get Sam's weekly newsletter, Sam's SidebarFollow Sam on InstagramFollow Sam on YouTubeSubscribe to Sam's Substack, Beyond BusinessTake Sam's free legal workshop "5 Steps to Legally Protect & Grow Your Online Business"DISCLAIMER