How to Pay Yourself as a Smoke Shop Owner (Without Overpaying Taxes!) скачать в хорошем качестве

How to Pay Yourself as a Smoke Shop Owner (Without Overpaying Taxes!)

Are you paying yourself the right way as a smoke shop owner? In this video, Chad Wade breaks down how to pay yourself based on your business structure—LLC, S Corp, or C Corp—and how to do it in a tax-efficient way. Learn about owner's draws, reasonable salaries, distributions, and common mistakes business owners make that could cost you thousands in unnecessary taxes. Stick around until the end to uncover the biggest mistake business owners make when paying themselves and how to avoid it! 💡 What You'll Learn in This Video: • How LLCs, S Corps, and C Corps differ in paying business owners • The tax implications of owner's draws, salaries, and distributions • How to set up payroll efficiently using tools like Gusto, ADP, or QuickBooks • The importance of saving for taxes and avoiding penalties • Common tax mistakes to avoid as a business owner ⏰ TIMESTAMPS: 0:00 – Introduction 0:49 – Are You Paying Yourself the Right Way? 1:41 – Three Common Ways Business Owners Take Income 2:02 – Owner’s Draw for LLCs and Sole Proprietors 2:39 – Salary and Distribution for S Corps 3:41 – Salary and Dividend for C Corps 4:20 – Best Way to Pay Yourself Based on Business Structure 5:01 – Tax Efficiency for S Corps (Salary vs. Distribution) 6:01 – How to Set Up Payroll 6:30 – Importance of Paying Payroll Taxes Quarterly 7:00 – Keeping Payroll Records to Stay IRS Compliant 7:53 – Biggest Mistakes Business Owners Make 8:19 – Underpaying Yourself as an S Corp Owner 8:59 – Forgetting to Set Aside Taxes 9:10 – Recap: The Best Way to Pay Yourself 9:40 – Balancing Salary and Distributions for S Corps 10:00 – Resources and Closing Remarks 📢 Resources Mentioned in the Video: • Join Discord for FREE $200 Masterclass:   / chadwadetv   • Text "DISPLAYS" to 954-466-3228 for free smoke shop layout • Visit https://chadwadetv.com for business mentorship • Get Chad's Book "Street Smarts" on Amazon Today: https://a.co/d/h09C7UV 💰 LEVEL UP YOUR BUSINESS: • Custom Inventory Solutions • One-on-One Strategy Sessions • Complete Business Building System • And more at https://chadwadetv.com/ 🔔 Hit Subscribe & Bell Icon - New business growth videos every week!    / @cw_tv3   🔔 Don’t forget to like, subscribe, and turn on notifications for more business tips tailored for smoke shop owners. 🤝 LET'S CONNECT: • YouTube:    / @cw_tv3   • Instagram:   / chadwadetv   • Tik Tok:   / chadwadetv   • Facebook:   / chadwadetv   • Linked In:   / chad-wade-a980418   EDUCATIONAL USE ONLY #SmokeShopBusiness #BusinessTips #TaxEfficiency #ChadWadeTV #SmallBusinessOwner