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How much YOU should pay yourself as a business owner 😀 

Vanader
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This is how much you should pay yourself as a business owner. Just enough to save, invest and grow your business.
Like this video, if you want a longer-form version!
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Hi! My name is Evan, I'm a business owner and entrepreneur that loves to help previous versions of myself. I started an accelerator that has helped thousands of people start their businesses. To learn more about me and what I can do to help you, check out vanader.com or click the link above!
Accelerator:
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My website:
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Instagram:
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LinkedIn:
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Hi! my name is Evan and I'm super stoked you want to learn more about me!
I show people how to build their businesses. I learn a skill, test it with my own companies and share it!
I got my start by selling CDs at 13 years old. I’ve worked as a fry cook, I’ve mowed lawns, built go-peds, managed restaurants, sold mortgages, worked in Hollywood, and sat at a desk. I’ve cold-called, done graphic design, pounded pavement, traded crypto, and worked on an ambulance.
I finally settled down and devoted my life to becoming a firefighter in my early 20’s. It took me 5 years of training, fire academies, and paramedic school to finally land that job.
I spent 8 years of my life answering 911 calls. Now I get to pursue my real passion, which is building businesses and educating.
My first successful company is called Scorch Marker.
I was building a commemorative plaque for the fire department in my woodshop and desperately wanted to burn our motto “together in, together out” into the wood. So I pulled out my wood-burning tool, plugged it into the wall, and screwed the whole thing up!
But my wife and I had found another way. We created a chemical solution that reacts with heat. We were inspired by RU-vid creators! You apply the liquid to wood, apply heat, and the wood burns only where you drew! Pretty cool right? We invented the world’s first wood-burning marker - Scorch Marker.
Little did we know that this was the beginning of something big. We agreed to spend $500 of our savings to see if we could turn the idea into a product. 2 years later and we got into retail, became a bestseller on Amazon, created jobs, and made a lot of mistakes.
It’s the mistakes that are important. Those are the valuable, teachable moments that doers get to enjoy and learn from. They make you stronger.
Building, maintaining, scaling, running, or managing a business is not easy. But it can be done!
That's why I'm here. To teach what I've learned so you don't have to make the same mistakes that I did!
Can't wait to hear from you!
Evan
Vanader.com

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27 июн 2024

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Комментарии : 113   
@mikejvevo3153
@mikejvevo3153 2 года назад
"Don't buy dumb shit" got me rolling
@jettywetty9398
@jettywetty9398 Год назад
😂😂😂😂I did not expect that
@m.creekrenovations
@m.creekrenovations 4 месяца назад
You won’t initially be taxed on the owners draw but when you file your taxes you will have to claim it as taxable income. So you will have to pay federal and state income tax
@seiscincocero
@seiscincocero 2 месяца назад
So I salary better than owners draw
@romancummings6194
@romancummings6194 3 года назад
Evan, as usual Job well done. You honestly have a gift, what would normally take other 20 mins you break down in under 2.
@BABossGod
@BABossGod 4 месяца назад
I'm thankful for your channel. Not only are you educational, entertaining, and exceptional, but you chose a KH music track and that alone tells me you know about the light and darkness of business. Thank you for all you do 😊
@kouxiong7773
@kouxiong7773 9 месяцев назад
Kingdom hearts theme song, that was a good game. When life was simple
@LightofJoshua
@LightofJoshua 5 месяцев назад
Yup I miss those days
@Gigachad583
@Gigachad583 Месяц назад
I was just about to comment😂😂
@jeremygeorge4823
@jeremygeorge4823 11 месяцев назад
Kingdom hearts and business?? This is the rarest intersection I’ve seen all month
@Coach_Ryan
@Coach_Ryan 8 месяцев назад
Great information, explained very well! Remember, focus on that work life balance as much as you are focused on the business growth. You CAN have it all.🎉
@talithamitchner309
@talithamitchner309 11 месяцев назад
It’s the pen hitting the paper for me… I watched it fives times just for that reason alone…. Lol
@drewhitchcock
@drewhitchcock Год назад
Dat kingdom hearts beat lol
@Vanader
@Vanader Год назад
The nostalgia…. Haha
@LightofJoshua
@LightofJoshua 5 месяцев назад
Yea I love Dearly Beloved Ok time to get back to watching his RU-vid shorts
@ninodaghost
@ninodaghost 9 месяцев назад
Owners draw is all I needed to know thanks 🙏
@Vanader
@Vanader 8 месяцев назад
No problem 👍
@WorthNineDigits
@WorthNineDigits 5 месяцев назад
I understand the owner’s draw is not taxed but how much money should be put aside for taxes on this illustration?
@WhyOhWhy123
@WhyOhWhy123 5 месяцев назад
So reinvest 66% and draw 33% of total nett profit.
@marcelinopacheco6002
@marcelinopacheco6002 Год назад
THANK YOU THANK YOU THANK YOU. You are a blessing
@deedeescarberry5981
@deedeescarberry5981 Год назад
I’ve literally been looking for someone to write it out like this! Thank you! Just missing the calculation for taxes..?
@InnovativeSolja
@InnovativeSolja Год назад
I noticed that…
@todmiddleton3638
@todmiddleton3638 Год назад
I normally hold back 20- 25% of the profit until end of the year to ensure taxes are covered.
@Valkyrie_3d
@Valkyrie_3d 5 месяцев назад
​@@todmiddleton3638taxes are insane
@jenninemorel7693
@jenninemorel7693 3 месяца назад
It depends but the suggestion of 20 to 25% is a good start. Deposit it into a separate account to help from spending it.
@NashBrooklyn
@NashBrooklyn 5 месяцев назад
DBDS is always the best advice however 33% of the profit as a personal income can lead to a bad habit that leads to a quick downfall / bankruptcy - in other words pay yourself $1 like muxelon does - and invest everything else back into your company buying out competitors which are also called as your business model enhancers as quick as you can - and that is how you will end up a billionaire -
@thegentleman03
@thegentleman03 4 месяца назад
But we got bills to pay?
@moneymijotv
@moneymijotv 7 месяцев назад
This definitely helped me understand a little more! Like the Kingdoms Hearts start up music in the background 🗝️ need to use that! Lol
@eiba6528
@eiba6528 9 месяцев назад
When you say you are not going to get tax in owners draws a second time, can you explain that?
@mislabarco4668
@mislabarco4668 3 года назад
Succinct and friendly. Thank you.
@SimplyDruYT
@SimplyDruYT Год назад
I love the dark ending! Gotta love the twist in genre teaching to harsh reality. Nice!
@scasey1960
@scasey1960 5 месяцев назад
Good luck with a business that offers a 30% margin. Also, don’t forget the taxes including the self employment tax (goodbye 40% of earnings).
@anthony661990
@anthony661990 Год назад
I've been looking for this. More specifically a video broken down monthly. And taxes for the company. I'm so confused but this helps. I don't want to do this wrong
@Vanader
@Vanader Год назад
Anthony. I feel that. I’m glad this helps. Dm me on IG if you need more help
@1conu593
@1conu593 5 месяцев назад
Better is stop buying shit you don’t need right away or that you can buy aftermarket with no functionality loss
@wjkrug
@wjkrug 6 месяцев назад
I think you forgot tax expense on that 10k lol
@dijonvolner6024
@dijonvolner6024 5 месяцев назад
Came here to ask about that. Maybe it's included in the $70k
@benlangman_2727
@benlangman_2727 5 месяцев назад
Wait you have to pay taxes on that too? even though you already subtract it from your business profit?
@77Tadams
@77Tadams Год назад
This is helpful because I need to set this up for the SCorp
@joe_mckirdy
@joe_mckirdy 5 месяцев назад
I hope that is per month cause no one can live on 10k per year unless its a part time company.
@JonG27
@JonG27 5 месяцев назад
Straight to the point great job ty
@blvckent.tv2.069
@blvckent.tv2.069 9 месяцев назад
Been looking for a solution like this.
@arfriedman4577
@arfriedman4577 5 месяцев назад
You also need to live within your means and be happy. Stay away from debt. Don't buy stuff you don't need and stop wasting money on luxury items. Don't keep up with jonses.
@chriall
@chriall 6 месяцев назад
Came for Business help. Got a surprised with a sudden wave of Kingdom hearts Nostalgia instead 🤣
@marianneelliot-hansen
@marianneelliot-hansen 5 месяцев назад
If you don’t have that much money, you can just remove the key and put a % instead then it will fit with any amount of sales you get
@voidconcepts
@voidconcepts Год назад
Like the dearly beloved mix in the background 😘👌
@indiahollinquest7850
@indiahollinquest7850 Год назад
I love it!!! Number 1 secret, don’t buy dumb shit😂😂😂😂
@Vanader
@Vanader Год назад
Thanks for watching india
@james-ud9lp
@james-ud9lp Год назад
Both of those rules are very hard and I'm trying to follow them everyday
@Timtimzi
@Timtimzi 5 месяцев назад
I love the kingdom hearts background music
@SoCalJeepro
@SoCalJeepro Год назад
Thank you bro
@flyingdutchmanindustries5877
@flyingdutchmanindustries5877 5 месяцев назад
Very well done.
@BelovedbyAdonai
@BelovedbyAdonai Год назад
THANK YOU!!! :)
@Vanader
@Vanader Год назад
You're welcome!
@cameron-zl9bl
@cameron-zl9bl Год назад
So you take this out of business account? I’m new to this whole thing.
@user-kb5nb6hg4j
@user-kb5nb6hg4j 5 месяцев назад
The Big Guy get 10% right off the top.
@dijonvolner6024
@dijonvolner6024 5 месяцев назад
I'd say it's more than that
@francineb855
@francineb855 10 месяцев назад
I love that pen 🖊️ 😅 when can I get myself one of those?
@perrywolfgang5558
@perrywolfgang5558 Год назад
What if I wanted to take a portion to re invest in a new bussiness?
@sirguy6678
@sirguy6678 2 месяца назад
Do refrigerators still come in boxes?
@DesmondWinn
@DesmondWinn 4 месяца назад
How would you do it if you have a 1099 contractor on your team?
@marketingempiregroup
@marketingempiregroup Год назад
Hey, for real though, this is legit. I must say after seeing this I’m curious to learn a little more about your business 🤔 Let’s connect.
@Zivakoi
@Zivakoi Год назад
So essentially 1/3 of profits = owner’s draw and 2/3 off profits = reinvest in business
@tjls123
@tjls123 Год назад
First you need to miraculously start off with $70,000? Then you need to somehow manage to recieve a 43% profit return every month? Good idea, thanks for the advice... How about a realistic situation where you're starting a business with 10k or less and getting a normal return of 15-20%. You get 2k in profit... now u reinvest $600 in your business and you'd have to live off like $1000 a month using this strategy, unrealistic... This information becomes much more useless when applied practically. You have to realize most people are poor, and people that have 70k on deck don't even need this kind of information.
@noulafrantz8589
@noulafrantz8589 Год назад
When you started a small business you would need a job to support you
@YouTubeUserToo
@YouTubeUserToo 6 месяцев назад
Completely illegal to pay yourself solely by dividend. You should be paying yourself a market-competitive wage for the roles & responsibilities you hold.
@mook3137
@mook3137 5 месяцев назад
You start with damn near 50 % after taxes 😂
@Journeywithblackbear
@Journeywithblackbear 4 месяца назад
Does reinvesting include employees?
@SuperCraftyDesigns
@SuperCraftyDesigns Год назад
This is for the year. Can you break it down? Monthly or bi-weekly?
@Vanader
@Vanader 11 месяцев назад
you could use this same model monthly just take away a 0
@benlangman_2727
@benlangman_2727 8 месяцев назад
$300 a month on living expenses how would anyone live off of that ?
@inwiththenew414
@inwiththenew414 7 месяцев назад
​@@benlangman_2727 this is when having a spouse or domestic partner comes in handy - that way you wont need to worry about making ends meet as much.
@AerialPerspectiveGIS
@AerialPerspectiveGIS 5 месяцев назад
If I'm doing an owner's draw do I have to be registered as an LLC or can I be a sole proprietor?
@eiba6528
@eiba6528 9 месяцев назад
owners draws are not taxable?
@cheif3870
@cheif3870 Год назад
Sales and expensive Got me dead 💀ain’t no way
@jorgenajera8320
@jorgenajera8320 Год назад
Is there a certain day you pay yourself? Cause obviously its in your business bank acc. Is there a day where you have to transfer that fund or ?
@lifeuhvriley
@lifeuhvriley 9 месяцев назад
So, are you saying 10% of the revenue, or 1/3rd of the profits?
@angel278596
@angel278596 9 месяцев назад
Monthly correct?
@johnshorba
@johnshorba Год назад
Do you pay taxes on just the net, before you do an owners dray
@mikejvevo3153
@mikejvevo3153 2 года назад
So is the tax part of the expenses of the business
@prabshah
@prabshah Год назад
Then why don’t one need to add themselves on payroll
@Vanader
@Vanader Год назад
You can only be on payroll of your own company when you are an Scorp or Ccorp
@gtarules1
@gtarules1 5 месяцев назад
Is this per month?
@chind0na
@chind0na Год назад
Me actually collecting all the dumb shit to get rid of it.
@Vanader
@Vanader Год назад
Lol. We’ve all been there brother
@stevewenners
@stevewenners 5 месяцев назад
This might have worked in 2020
@robbfjr
@robbfjr 5 месяцев назад
I recently started my LLC . Plumbing company. I am married and want to basically take care of all bills( 4500 / month ) while her check pays our lifestyle/entertainment I’ve been using Zelle to do this. My question is come tax time for myself. Am I claiming this money? If so is it taxed? I’m not taking any more than what is exactly needed monthly so I’m worried I’ll owe on my personal taxes for the money I’ve referred over the year
@slowmotion-songs
@slowmotion-songs 5 месяцев назад
If you're asking this question, you should probably consult an accountant. If your company consists of one member, you, it is considered a sole proprietorship, and you will be taxed as an individual, not as a separate entity. A partnership for example, could be taxed as an S-Corp, where you're essentially on the payroll of your own company, where you and the company are taxed separately. As a sole proprietor, you will have to pay "self-employment tax", which is social security and Medicare, since you don't have an employer withholding it from your paycheck. So in short, you must claim all income, then deduct only business related expenses from that income, and what ever is left is taxable. Regular living expenses are not deductible. Not sure how joint filling would work if married. Consult an accountant. It's well worth the money.
@thisnotjesus
@thisnotjesus 5 месяцев назад
if the person is sayin "reinvest 20k" then they don't know the business
@Vanader
@Vanader 5 месяцев назад
i dont know shit trust me
@GeauxRilla
@GeauxRilla Год назад
Boost your audio
@Vanader
@Vanader Год назад
You got it
@dr.kawasaki7380
@dr.kawasaki7380 5 месяцев назад
🤪🤪Kingdom Hearts 🛐🛐
@soullessdevice
@soullessdevice 7 месяцев назад
In other words, don't buy things from temu
@vineet5678
@vineet5678 3 года назад
Don't buy dumb shit lesson learned , like expensive cars , bike and dumb watches
@isz98
@isz98 8 месяцев назад
This consider a draw or salary ?
@serfinf
@serfinf 5 месяцев назад
10k per month I hope. Cause 10k per year and ur in big trouble.
@blicka187inf
@blicka187inf Год назад
☑️💯
@BloodyIron
@BloodyIron 5 месяцев назад
"you're not gonna get taxed" yeah that's not going to be accurate in every country and tax jurisdiction on the planet. Don't believe that for a second you won't get taxed.
@andrewperez3091
@andrewperez3091 5 месяцев назад
Simple run down. You’re totally forgetting about taxes on the profits from the business friendo.
@Taxecoe
@Taxecoe 4 месяца назад
Nice pin my guy
@IBK1001
@IBK1001 Год назад
Ominikun you no get mind for the fracas that you’re just starting.
@Luey-E
@Luey-E 8 месяцев назад
So is the $100k revenue post tax?
@Vanader
@Vanader 8 месяцев назад
pre tax
@Luey-E
@Luey-E 8 месяцев назад
​@@Vanaderthank you
@WorthNineDigits
@WorthNineDigits 5 месяцев назад
@@Vanaderhow much should be put aside for taxes in your illustration?
@arfriedman4577
@arfriedman4577 5 месяцев назад
Make sure you pay taxes.
@giosactive247
@giosactive247 Год назад
Dont forget you have to pay taxes
@plmoki1235
@plmoki1235 4 месяца назад
I’M MATURE…I DON’T NEED IT!! I’M MATURE…I DON’T NEED IT!! I’M MATURE…I DON’T NEED IT!! I’M MATURE…I DON’T NEED IT!! ……….NEW CARD TRANSACTION: $3,679.14
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