[sal329]

How do you pay yourself when you own an ecommerce site? Do I have to pay myself a set price or can I change it like a commission type basis? Thanks everyone

[The Stealthy One]

BOG, your disrespect towards other forum members is not appropriate, and you must learn from lessons such as the one sl.market put forth: if you do not discontinue your irrational behavior, you will soon be banned.

[The Stealthy One]

Originally Posted by sal329

How do you pay yourself when you own an ecommerce site? Do I have to pay myself a set price or can I change it like a commission type basis? Thanks everyone

sal329,

You can really pay yourself in any way you wish, once you are sure the business itself is well-funded. A commission sounds like a neat idea, though, because it pays you your salary on the basis of performance, not just on the premise that you "deserve" a salary.

Is this for an official company? As then I would advise you to create a cash flow forcast and see what you can afford to pay yourself and what you think you should eb reinvesting in the company, there no sense taking 90% of the profits as your pay as then the company is never going to sustain etc, Im sure you get it..

[sal329]

I want to start an online store selling gifts and novelties. I hope to grow from there. Start small and jsut continue to grow and add more items to sell, some more websites. I was just curious on how you would pay yourself. I would have to note it for tax purposes, correct?

[sal329]

I will be the one that will be doin all the work there will be noone else on a payroll. I will using a dropshipper for some stuff as well. I figure a commision basis this way I have a great month I can make a lil more in my pocket, I have a not so great month I wont put as much in my pocket.

[BOG]

Originally Posted by The Stealthy One

BOG, your disrespect towards other forum members is not appropriate, and you must learn from lessons such as the one sl.market put forth: if you do not discontinue your irrational behavior, you will soon be banned.

Yeah, ban the one guy who knows what he's talking about.

[youngmoneyblog]

you get money from whatever profit you're able to make. take a portion of that profit to reinvest in the company and build it, and give some back to yourself.

but according to many folks on these forums, you might not make a lot of money through a dropshipper.

[sal329]

If I can make a few extra bucks through a dropshipper as I am learning I will be happy.

[E-Helpdesk]

What I do is take a capital withdrawal out of my business. This is essentially just taking money out of your business account for your personal use, but taking note of it for accounting purposes. For me, it is still difficult to forcast revenue because things can change month-to-month.

[NeeJam]

paying yourself - well you take the amount of profit left over after you've re-invested back into your biz for day-to-day running and other costs to keep the business afloat or to expand the business etc

[sal329]

whats the best way to document it for tax/legal purpose?