Hi everyone, I’m going to start a small business and wanted to know how most people would pay themselves. It’s a company (pty ltd) with one person working on it (just me), who won't be paid o start..
Let’s say the first fin year it makes 10k, second is 40k and third/going forward it’s 100k/year. How do you pay yourself in first vs other years - do you “pay” the first year as a dividend because you can’t pay yourself a wage, then it’s a wage, etc? Thank you very much.
Step 1. Get an accountant who will tell you the best way to structure it all.
Step 2. Dont ask ozb, there is a reason there are professionals.