payroll

Yes, small business owners can run payroll themselves with the right tools and knowledge. Learn how to handle payroll step-by-step—from calculating wages and deductions to filing taxes—while staying compliant with federal and state laws.

Payroll for business owners involves more than just paying employees—it includes calculating wages, deducting taxes, managing benefits, and staying compliant with federal and state laws. Understanding the payroll process helps ensure smooth operations and legal compliance.

A business payroll is the process of paying employees, managing wages, deductions, and taxes, while ensuring compliance with employment laws. It covers everything from calculating salaries and withholding taxes to reporting and record-keeping, making it vital for business operations.

Learn how to manage payroll for your own business with this step-by-step guide. From choosing a payroll system to calculating wages, withholding taxes, processing payments, and staying compliant, this overview covers everything small business owners need to know.

An owner’s draw is money taken by business owners for personal use and is not considered payroll. Unlike employee wages, owner’s draw isn’t subject to payroll taxes but is reported as personal income on tax returns. Payroll involves regular employee compensation with tax withholdings.

Doing payroll for a small business can range from relatively simple to quite complex, depending on the size of the business, the number of employees, the frequency of pay periods, and the level of automation and support you have. Here are some factors to consider when assessing the difficulty of managing payroll for a small business: Number of Employees: The more employees you have, the more time-consuming and complex the payroll process can become. Managing payroll for just

Payroll is one of the largest expenses for small businesses—but how much should you actually spend? This guide explains how to calculate payroll as a percentage of revenue, what typical benchmarks look like across industries, and how to balance fair compensation with profitability.

Handling payroll for a single employee is possible for small business owners willing to learn the basics. Key steps include obtaining an EIN, calculating wages, withholding taxes, filing necessary reports, and maintaining accurate records. While doable, accuracy and compliance with tax laws are essential.

Yes, you can do your own payroll in QuickBooks! With a QuickBooks Payroll subscription, you can easily set up, run, and manage payroll for your employees—calculating wages, handling taxes, and staying compliant, all in one place.

Paying yourself first is a crucial financial habit that involves prioritizing your savings and financial goals before spending money on other expenses. It ensures that you consistently save and invest for your future needs and financial security. Here are some steps to help you pay yourself first: Set Financial Goals: Determine your short-term and long-term financial goals. This could include building an emergency fund, saving for retirement, paying off debt, or saving for a

As a business owner, you have the flexibility to pay yourself from your business profits, but there are some considerations and limitations to keep in mind: Business Structure – The business structure you have chosen (e.g., sole proprietorship, partnership, LLC, corporation) will impact how you can pay yourself. You can take draws or distributions from the business’s profits in some structures, such as sole proprietorships and partnerships. In others, like corporations, you

Paying yourself as a business owner involves categorizing the compensation you receive from your business for the work you perform. The categorization of paying yourself depends on your business structure and how you receive your compensation. Here are common ways to categorize paying yourself: Salary: If your business is structured as a corporation (including S corporations), you can pay yourself regular compensation as an employee. You receive this fixed amount consistentl

An owner’s draw and a salary are distinct ways business owners pay themselves. A draw is a withdrawal of profits from the business, common in sole proprietorships and LLCs, and doesn’t involve payroll tax withholding. In contrast, a salary is a fixed wage paid to an employee with taxes withheld, typical in corporations where owners are employees.

Determining how much to pay yourself each paycheck depends on your business’s profitability, personal financial needs, and tax considerations. Balancing reasonable compensation with reinvestment in your business is key to sustaining growth and meeting your financial goals.

Wondering when it's the right time to pay yourself from your business? The answer depends on your business structure, profitability, and tax obligations. Whether you run a sole proprietorship, LLC, or corporation, this guide explains when and how you can begin taking a salary or draw responsibly.

Yes, a business owner can put themselves on payroll—but how they do it depends on the business’s legal structure. While corporation owners are typically required to be on payroll, sole proprietors and partners take draws instead. Learn what payroll means for your taxes, what “reasonable compensation” entails, and how to stay compliant.

Doing payroll yourself for your small business can help save costs and give you greater control. This guide outlines the step-by-step process—from calculating wages and tax deductions to paying employees and filing payroll taxes—so you can manage payroll accurately and stay compliant.

Whether an LLC owner should put themselves on payroll depends on business structure and tax strategy. Learn when it’s required, when it’s beneficial, and how to decide based on your financial goals.

Wondering how much you should pay yourself from your LLC? While there's no fixed rule, your draw or salary should reflect personal financial needs, business profitability, growth goals, and tax considerations. Learn how to determine a smart and sustainable compensation strategy for your LLC.

Yes, business owners can pay themselves through payroll—especially if operating as an LLC (electing S Corp), S Corporation, or C Corporation. Setting up payroll involves registering for an EIN, withholding taxes, and following employment laws. Learn the 12 steps to start paying yourself legally and efficiently.