How to Pay Yourself from Your LLC
Formation Methods: Cost vs. Time Comparison
Comparing the true cost of business formation methods
Estimated Total Cost
Time Investment
Why choose the middle path?
DIY Risks Costly Mistakes
Doing it yourself seems cheap, but missing a single compliance step can cost thousands in state fines later.
Attorneys are Expensive
Lawyers charge $200-$400 per hour for paperwork that can be automated accurately and safely.
The Smart Advantage
BookMyLLC provides attorney-level accuracy in a fraction of the time, for a fraction of the cost.
How to Pay Yourself from Your LLC
As an LLC owner, you have several options for paying yourself. The right choice depends on your LLC's tax structure and cash flow.
Owner's Draw (Default LLC)
Simply transfer money from your business account to your personal account. No payroll taxes, but you'll pay self-employment tax on all profits at tax time.
Salary (S-Corp Election)
If your LLC elects S-Corp status, you can pay yourself a reasonable salary. This can reduce self-employment tax on profits above your salary.
The Formation Process
Name Your Business
Perform a quick search to ensure your desired LLC name is available in your state.
Name Your Business
Perform a quick search to ensure your desired LLC name is available in your state.
Select Your Package
Choose between our Basic, Standard, or Premium packages depending on your privacy and compliance needs.
We File the Paperwork
Our experts draft and file the Articles of Organization with the Secretary of State.
We File the Paperwork
Our experts draft and file the Articles of Organization with the Secretary of State.
Receive Your Documents
Your official LLC documents, EIN, and Operating Agreement are delivered securely to your dashboard.