I'm not sure how many questions you are asking
1) How to develop cash flow?
A) Find jobs
B) Work them
C) Get paid
2) How to pay yourself salary?
Depends on the state you are in, consult a CPA on the best pay structure for your business entity. It gets complicated depending on how many other people have shares in your PLLC.
3) How to pay business tax?
A) Are you talking about sales tax? Board of Equalization (for CA) sends you a quarterly reminder email with your account # and log in code. Just follow the instructions and pay online or have a CPA do it for you.
B) How to pay business income tax? Find a CPA
Either way, FIND A CPA!
Welcome to the community, che-ann!
Congratulations on your adventure as a business owner! I agree with icetzou. Find a CPA and work out the details of your book keeping with him/her. They will be able to make sure you are keeping enough money set aside for your taxes and all of that good stuff.
I own a cloud accounting firm that specializes in start-ups and growing companies. Now is a great time to establish your rules for operating and managing your money.
I recommend the following book, Profit First by Mike Michalowicz. The theme the book develops on is understanding your costs of delivering services and reducing all other costs. For example: if you sell $2,000 worth of products in a month and your costs for those products are $750, then your gross profit is $1,250. You would draw your compensation, save for taxes, and save for business investment based on your gross profit. The leftovers can be used for business expenses. This will ensure a profitable company and keep it lean. Several of our clients have implemented a Profit First system with success.
Your question came at a great time! Our SBC Team has just shared some really informative articles with cash flow as the topic:
Yes a lot of reading, I know. But GREAT informaition! Hope this helps.
Thank you all.
On Jul 1, 2015 8:58 AM, "Moderator Cath" <