Dan Olaco

Running a business in itself can be stressful, not to mention managing all the changes happening in the U.S. today, including inflation, tariffs, and higher gas prices. It can be overwhelming to keep up, and it can also be draining to the business’s finances. Inflation is real; it exists in our day-to-day lives, from rising gas prices to higher grocery prices. It exists in the business world, labor, payroll, inventory, insurance, rent, and software are just some of the typical expenses...

One of the most common questions business owners ask is, "How do I pay myself?" While the answer may seem simple, the method you use to take money out of your business depends largely on how your business is structured for legal and tax purposes. A sole proprietor, partner, S-corporation shareholder, and C-corporation owner may all receive pay (compensation) differently, and each method comes with its own rules and tax reporting requirements. Choosing the wrong approach can lead to tax...

Do you own a small business and wonder how much you should be paying yourself? It is a very simple question, but the answer can be pretty complex. Complex because it can depend on so many factors with your business, and also because no 2 people, businesses, or situations are alike. So it's not as easy to compare your situation with another business owner's, even if they're in the same industry. Money can be a very emotional and scary issue for some people, and figuring out how much you...