How to pay yourself as an LLC owner and S-Corp owner [2021]

This is how you pay yourself as a single-member LLC owner or small business. I also touch on how to pay yourself as an S-Corp, which everyone should do when they make more than $50k a year. You can contact"

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Hi! my name is Evan and I'm super stoked you want to learn more about me!
I show people how to build their businesses. I learn a skill, test it with my own companies and share it!
I got my start by selling CDs at 13 years old. I’ve worked as a fry cook, I’ve mowed lawns, built go-peds, managed restaurants, sold mortgages, worked in Hollywood, and sat at a desk. I’ve cold-called, done graphic design, pounded pavement, traded crypto, and worked on an ambulance.
I finally settled down and devoted my life to becoming a firefighter in my early 20’s. It took me 5 years of training, fire academies, and paramedic school to finally land that job.
I spent 8 years of my life answering 911 calls. Now I get to pursue my real passion, which is building businesses and educating.

My first successful company is called Scorch Marker.
I was building a commemorative plaque for the fire department in my woodshop and desperately wanted to burn our motto “together in, together out” into the wood. So I pulled out my wood-burning tool, plugged it into the wall, and screwed the whole thing up!
But my wife and I had found another way. We created a chemical solution that reacts with heat. We were inspired by YouTube creators! You apply the liquid to wood, apply heat, and the wood burns only where you drew! Pretty cool right? We invented the world’s first wood-burning marker – Scorch Marker.
Little did we know that this was the beginning of something big. We agreed to spend $500 of our savings to see if we could turn the idea into a product. 2 years later and we got into retail, became a bestseller on Amazon, created jobs, and made a lot of mistakes.
It’s the mistakes that are important. Those are the valuable, teachable moments that doers get to enjoy and learn from. They make you stronger.
Building, maintaining, scaling, running, or managing a business is not easy. But it can be done!

That's why I'm here. To teach what I've learned so you don't have to make the same mistakes that I did!

Can't wait to hear from you!

Evan

[KroopinsPoopinScoopin]

Found you on TikTok! Totally binging all your content. Thank you

[stevenelice]

Can you do another video on LLC vs S corps? I’m getting so many different answers

[HopeProphecy]

How would I pay myself in a structure with a single-member holding LLC (S-Corp) that owns my operating LLC, of which I’m the only owner and employee? How can this be done without piercing the corporate veil and losing asset protection, while still seeing the tax benefits of an S-Corp? Which LLC would handle payroll and how would dividends be distributed? Thanks!

[remh]

This to me needs more clarity. If you are trying to buy a house you will need to have w-2’s. Not having w-2 makes the process harder and more expensive. Also if you pay yourself from company and u own more than a certain percentage of said company you are now required to provide the company’s tax return as well. Please correct me if I’m wrong. Btw also if u have a LLC it’s easier to be taxed a partnership by having someone own 1% of that company if can be a child or another business. Can you please touch on these two points. Thanks I’m advance.

[ExclusiveDZN]

What would be the proper way to inject money into your LLC and is any of that money tax-deductible?

[megalomanik]

Obvious question is: what's a "reasonable salary?" Also, is there a max to the distributions?

My expanding small business I could see a reasonable annual salary being $30k but I could argue for it being $60k also... obviously I don't want to get $30k in extra taxable income

[surveytestmoney]

How do you do this is your LLC is formed in one state but you're doing business in a no income tax state?

[brittanyvillarreal]

What is the dollar amount for a reasonable salary?