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Finance

If you have started a new small business, how can you start paying yourself to pay your personal bills?

min read
Opinions expressed by Entrepreneur contributors are their own.
No--do not pay your personal bills out of the business account. Hopefully you have created a business plan. You need to assess what the business can afford to pay you and you should visit with your personal accountant regarding this as well. Normally we will take a portion of our payment as payroll expense and the other as an equity withdrawal - they are taxed differently. Then from this payment you will pay your personal bills out of your personal account. Do not comingle funds - keep business and personal separate.

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