2007-01-12 07:27:49 · 3 answers · asked by Anonymous in Business & Finance ➔ Small Business
When you own the business, you own all the assets, liabilities, and incomes of the business. If you are referring to salaries, you set your own salary, within reason, since it ultimately has to come out of the income and you must set aside enough money to continue operations. There is no real rule saying what percentage would be your salary. Lots of businesses use salaries to manage the bottom line, especially those that are subject to taxation on business earnings, such as S-Corps. That's about the best I can do with the information you have there.
2007-01-12 07:33:18 · answer #1 · answered by theeconomicsguy 5 · 1⤊ 0⤋
Nooo, when you own a business you get what is left over after costs (lease, inventory, labor, taxes, license fees, utility bills, advertising , etc)
Owners get the profits > > Revenue - costs = profits
If your costs exceed revenue you are in DEBT .
2007-01-12 15:39:41 · answer #2 · answered by kate 7 · 0⤊ 0⤋
For tax purposes you never make any money, thus you pay less tax. Even Salary is an expense
2007-01-12 15:30:44 · answer #3 · answered by god knows and sees else Yahoo 6 · 0⤊ 2⤋