Home – New Forums Starting your journey Starting a company – paying myself

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  • #988250
    happyez
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    Hey all

    I am inching closer towards moving from STrader => PL, and hopefully before 1/7/14 so I don’t have to do more paperwork!!

    At the moment, my business isn’t getting any sales (but expect the first sales to come around October or November), so I am not worried about not able to pay the accountant. Just about all the other issues seem to be OK for me.

    But since there are no sales, and I am doing a part-time job to pay the bills, how could a company “pay me”, when there are no sales, and the only money coming in (other than Family Tax Benefits) are my wages.

    How have people done it? I know there are people on FS who have experience with this (they run their own coy and are in the same basket).

    It’s knocking down the issues so I feel that I can move ahead and set up the company

    Love any ideas or advice that is kicking around
    Eric

    #1166299
    MissSassy
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    It is not a requirement for a company to have any employees so until you can afford it you will not be paying out anything.

    I think thats what you were asking anyway. :)

    #1166300
    happyez
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    MissSassy, post: 192596 wrote:
    It is not a requirement for a company to have any employees so until you can afford it you will not be paying out anything.

    Yep, that sounds right.
    When I’ll speak to an accountant, I’ll ask about how the wages, which is what pays our bills etc can be divided up in what way …. at least until sales kick in
    Thanks
    Eric

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