As the owner of a business, there are several methods you can use to pay yourself…

1. Salary – You can pay yourself a regular salary, just like any other employee. This can be a fixed amount per month or per pay period.
2. Owner’s Draw/Dividends – If you are structured as a sole proprietorship, partnership, or LLC, you can take owner’s draws, which are distributions of profits from the business. If your business is structured as a corporation, you can pay yourself dividends from the company’s profits.
3. Reimbursements – You can reimburse yourself for any business-related expenses you personally incurred, such as travel expenses, meals, or office supplies.
4. Profit Sharing/Bonuses – Depending on the profitability of the business, you may choose to allocate a portion of the profits as bonuses or profit-sharing payments to yourself.
5. Retirement Contributions – You can make contributions to retirement accounts such as a 401(k) or IRA, which can also serve as a way to pay yourself in the long term.
6. Health Insurance and Benefits: You can use business funds to pay for health insurance premiums and other employee benefits for yourself.

It’s essential to establish a clear and consistent method for paying yourself, taking into account your business structure, financial needs, and tax implications. Consulting with an accountant or financial advisor can help you determine the most appropriate payment method for your specific situation.