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51 Ways Your Business Can Pay You

Guest post by: Merra Lee Moffitt

Article Overview: With a tremendous number of tax favored ways your company can pay you, you’ll want to decide which ones help your family and business most. Best news, you can make changes that fit your changing lifestyle & business, adding selections as your family and business grow.

51 Ways Your Business Can Pay You

With a tremendous number of tax favored ways your company can pay you, you’ll want to decide which ones help your family and business most. Best news, you can make changes that fit your changing lifestyle & business, adding selections as your family and business grow.

1. Paycheck / Owner Draw / Salary – Okay, this is the obvious

2. Business use of your home tax deduction

3. Rent from the business

4. Training and education you desire

5. Travel related to business you get to choose

6. Choosing your own travel modes, timing, and conditions

7. Extra days traveling paid by business

8. Travel conditions you choose

9. Choosing your favorite meals & entertainment places, foods, and times

10. Cell phone

11. Choosing your own Equipment brands, tools, and power toys

12. Lend Money to your company

13. Collect interest from lending

14. Negotiate favorable terms

15. Retirement plans paid by company

16. Flexibility in choosing the best retirement plan for you

17. Deferred Compensation

18. Welfare benefit fund

19. Cafeteria Plans

20. Adoption assistance

21. Dependent care assistance

22. Education assistance

23. Distributions on profits

24. Set up Benefit Programs you desire such as:

25. Vision coverage

26. Dental coverage

27. Medical coverage

28. Health Savings or Flexible spending accounts

29. Business working conditions – that you get to choose

30. Business partnerships that you get to choose

31. Auto provided for your use – you get to choose

32. Parking & parking passes

33. Family on payroll instead of hand out

34. Building emergency reserves

35. Building expansion reserves

36. Certain meals for business, family, friend, & prospects

37. Benefits that can be excluded to executives:

38. Athletic facilities

39. Meals for business convenience

40. Lodging for business convenience

41. Additional health plan coverage

42. Family peace of mind, including:

43. Life Insurance

44. LTC Insurance

45. Disability Insurance

46. Key man Insurance

47. When selling your company – you get to choose when & how

48. Golden parachute on company sale

49. Working part time & flexible scheduling after company sale

50. Goodwill throughout your community

51. Control over your own destiny – Priceless!

Every business is different and every family is unique. Sit down with Merra Lee and see what makes sense for you and your business today.

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Article Tags: business, lifestyle business, tax deductions



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