How to Pay Yourself as a Business Owner S-Corp vs LLC

You are making money. But are you actually keeping it? Too many entrepreneurs I talk to are generating real revenue and still not paying themselves consistently. They are running profitable businesses and their personal finances do not reflect it at all. Here is what most people do not realize. How you pay yourself depends entirely on how your business is set up. LLC owners and S-Corp owners play by completely different rules. And if you do not know which rules apply to you, you could be leaving thousands of dollars on the table every single year. That is exactly why I brought Chika Obih on the show. Chika is a CPA with 16 years of experience working with high-achieving women entrepreneurs. In this episode she breaks down how to pay yourself correctly based on your business structure, what the IRS actually requires, and how to make sure your personal finances finally match the business you have built. Key Topics Discussed Why your business structure determines how you pay yourself The difference between owner draws and W-2 salary What the IRS means by reasonable salary and why it matters The three-bucket framework for salary, draws, and retained profit How to pay yourself consistently even when revenue fluctuates The S-Corp tax savings most business owners are missing Key Takeaways Your business structure determines how you pay yourself. Most entrepreneurs find out they have been doing it wrong after the fact. Chika breaks down exactly what the IRS expects from you based on how your business is set up. There is a three-bucket framework for paying yourself. Getting the balance right between these three buckets could save you thousands in taxes every single year. Reasonable salary is not a number you get to make up. The IRS has a definition and if you miss it in either direction it will cost you. Chika explains how to find the right number for your industry and location. There is a right way to pay yourself consistently even when revenue fluctuates. Chika shares the exact approach she gives her clients so they can stop guessing and start paying themselves like a CEO. Your money check-in routine could be your most powerful income generating activity. Chika shares the weekly and monthly habits that keep her motivated, clear, and consistently in action in her business. Resources and Links Download Chika's Free Monthly Money Check-In Guide  Follow Chika on Instagram — @chikaobihcpa Connect on LinkedIn with Chika Subscribe to Chika on YouTube  Enjoyed this episode? If this conversation opened your eyes, share it with a business owner who needs to hear it. Leave a five star rating and a written review so more entrepreneurs can find the show. And come tell me what you think. You can DM me on Instagram @JamilaPayneMBA anytime. This is the Productive and Paid podcast. Real conversations about entrepreneurship and money. Until next week, stay productive and get paid.

You got off the call feeling great. The conversation flowed, they seemed interested, and you said — "I'll send over a proposal." And then you spent the next two hours writing it, the next two days waiting for a response, and the next two weeks following up. Sound familiar? If you are a coach, consultant, brand designer, VA, marketing agency owner, or any kind of service provider who is sending proposals to get business, this episode is your wake-up call. Proposals are not the professional, polished move you think they are. For most service providers, they are quietly killing your close rate, draining your time, and handing control of your sale over to a document that can't answer questions, handle objections, or guide anyone to a decision. In this episode, Jamila breaks down exactly why proposals are working against you and makes the case for package pricing, the shift that speeds up your sales cycle, puts you back in the driver's seat of every sales conversation, and helps you close clients in one call instead of one month. Key Topics Discussed The hidden cost of proposals that most service providers never stop to calculate Why your sales process might be the reason deals are stalling — not your pricing The simple pricing shift that helps entrepreneurs close clients in one conversation A real client story that will make you rethink how you're currently selling The quick audit that tells you exactly where your sales process is breaking down Key Takeaways Proposals hand control of your sale to a document. When you send a proposal and get off the phone, you remove yourself from the most important part of the process — the moment your client is deciding. You can't answer questions, address hesitation, or guide them. The proposal has to do all of that alone. And it can't. Package pricing closes clients faster. When your offers are defined in advance and you walk clients through them on the call, the decision happens in real time. No waiting. No follow-up. No guessing. Two packages is a great place to start. Package A and Package B. Define your deliverables clearly, know the differentiators between each tier, and put it somewhere you can pull up on a sales call. That's it. Your business is not too custom for packages. Your expertise doesn't change client to client — only the context does. Packages exist to give clients a range to find where they fit within what you offer. That's not less personal. That's smart design. Confidence in your offers is part of the sale. Arriving at a sales conversation with clear, defined packages sends a message: I know what I do, I know what it's worth, and here's what it looks like to work with me. That energy closes clients. Resources & Links Mentioned Connect with Jamila on Instagram: @JamilaPayneMBA Learn more about working with Jamila: Schedule a call Join my newsletter, The Productivity Edit  Enjoyed This Episode? If this episode resonated with you, please take 60 seconds to leave a 5-star rating and a written review — it helps Productive & Paid reach more entrepreneurs who need to hear this. Share it with a business owner friend who you know is out here sending proposals and waiting by the inbox. And DM Jamila on Instagram @JamilaPayneMBA with your biggest takeaway. This is the Productive & Paid podcast — real conversations about entrepreneurship and money. Until next week, stay productive and get paid.  

Is a disorganized business quietly costing you money? If you've ever lost 30 minutes hunting for a file, kept 47 tabs open because you were scared you'd never find something again, or felt that low-key embarrassment when a client asks for something and you can't pull it up quickly — this episode is for you. I sat down with Tracy Hoth, 17-year veteran professional organizer, certified life coach, and host of the globally top-ranked Organized Coach Podcast, and we got into the real cost of running a disorganized business and more importantly, exactly where to start fixing it. Here's what we cover: The #1 place to start organizing your business (hint: it's probably open on your screen right now) Why disorganization is quietly draining your confidence as a CEO and how clients can actually feel it The mindset shift that finally makes getting organized feel possible, even if you've always thought of yourself as a "messy person" Why the way you plan your next vacation might be the secret to unlocking your ability to get organized How long it actually takes to get your business organized and why it's probably less time than you think A real client story: how getting organized led to two books, a new funnel, and a whole new program Connect with Tracy Hoth:  Web Address: https://simplysquaredaway.com/ Instagram Handle: https://instagram.com/tracyhoth Enjoyed this episode? Leave a 5-star rating and review so more business owners can find the show! Then hop over to Instagram and DM me your biggest takeaway @JamilaPayneMBA — I love hearing what lands for you!    

What if the thing keeping your business stuck isn't your mindset, your offers, or your prices but the structure you've been building all along? In this episode, I'm breaking down one of the most important distinctions I wish someone had handed me years ago. And honestly? It might change the way you see every decision you've been making in your business. In this episode, you'll find out: Why so many women wake up one day and realize they've accidentally built themselves a really busy job — and the 3 signs it's already happening to you What it actually looks like when a business runs on systems instead of stamina (hint: sales coming in while you sleep isn't just a fantasy) The one question every CEO should be asking before making any business decision,  and why most of us were never taught to ask it Episode Highlights We dig into the real difference between a lifestyle business and a scalable one — not just the buzzword version, but what it actually means for your calendar, your cash flow, and your peace of mind. I share what's been on my mind as I've navigated my own health challenges over the past few years, and the uncomfortable truth I had to face about my own business when I was forced to slow down. We also talk about what makes a business a true asset — the kind that holds value, generates income, and creates options for you whether you want to sell it, step back, or pass it down someday. And I'm giving you a permission slip because I know there's a voice in the back of your head asking if wanting more makes you greedy. It doesn't. It makes you a CEO. Your challenge this week: Decide are you building for lifestyle or scale? Write it down. Then look at your decisions this month and ask yourself honestly: do they line up with that answer? Ready to go from busy business owner to scalable CEO? Book your free Business Growth Audit Call and I'll show you exactly where to simplify and scale. → dailysuccessroutine.com/schedule If this episode hit home for you, I'd love to hear your biggest takeaway — DM me on Instagram at @JamilaPayneMBA. And if you're loving the show, a 5-star rating and review means everything. It takes less than a minute and helps more women find this community. Thank you so much for listening — I'll see you next week.

What if the reason you're exhausted, overwhelmed, and still not where you want to be in your business has nothing to do with how hard you're working — and everything to do with how you're working? That's exactly what today's guest, Lacy Newman, discovered after spending nearly a decade in real estate running herself ragged, nearly burning out, and eventually walking away — before coming back with a completely different approach. The kind that led her to build a multi-seven-figure real estate team and become a top 1% luxury listing agent. Now she's helping other women entrepreneurs make the same shift: from constantly operating in the weeds to actually leading their businesses like a CEO. Trust me, this conversation is one you'll want to come back to. What You'll Learn in This Episode: The hidden signs you're stuck in operator mode — and why the way you manage your inbox, your phone notifications, and your daily to-do list might be the biggest clue that you're running your business instead of leading it Why scaling your business is actually about doing less, not more — Lacy breaks down the content and systems shift that separates women who stay overwhelmed from women who finally create businesses that work for them How to give yourself permission to pivot — Lacy shares the deeply personal decision she made to step away from 20+ years of real estate success to go all in on coaching, and what it really means to "start over" (hint: you're not starting over at all) Connect with Lacy: 🌐 https://laceynewman.com  📸 Instagram: https://www.instagram.com/alignedwithlacey Loved This Episode? If this conversation resonated with you, I would be so grateful if you took 60 seconds to leave a 5-star rating and review for the Productive & Paid Podcast! Your reviews help more women entrepreneurs find the show and get the tools they need to grow profitable, sustainable businesses. ⭐⭐⭐⭐⭐ How to leave a review: Head to the Productive & Paid Podcast on Apple Podcasts, scroll to the bottom, tap the stars, and share what the show means to you. It truly makes a difference! And I would love to hear from you — DM me on Instagram @JamilaPayneMBA and tell me your biggest takeaway from this episode. What's one shift you're making in your business after listening? I read every single message, and I can't wait to hear from you. Subscribe to Productive & Paid so you never miss an episode about building a business that supports your life, your income, and your freedom. Until next time — be productive and stay paid.  

Your LinkedIn profile might be costing you clients. Most entrepreneurs assume LinkedIn growth comes from posting more content. But what actually drives opportunities on the platform is far more strategic and often invisible. If you are showing up consistently and still not seeing conversations, referrals, or inbound interest, it is not because LinkedIn is not working. It is usually because of positioning. In this episode of Productive & Paid, I sit down with LinkedIn strategist Brooke Miles to talk about what actually drives visibility, conversations, and opportunities on LinkedIn. If you have ever wondered why some people generate consistent leads and connections from LinkedIn while others don't, this conversation breaks down the strategic shifts that make the difference. We talk about how to position yourself so the right people notice you, trust you, and reach out. In this episode, you will discover: • The subtle profile shifts that can change how people perceive your expertise • Why engagement matters more than frequency and what to do instead • The behind-the-scenes strategy that turns LinkedIn into a relationship-building tool • What most entrepreneurs misunderstand about visibility on the platform Brooke shares practical insights from working with business owners who want LinkedIn to become a real growth channel not just another place to post content. If you want smarter conversations about how business actually works, this episode will help you think differently about how you show up online. Connect with Brooke Miles: Delaware Shout Out https://www.linkedin.com/in/brookethemarketingpro/ Follow me: Instagram: https://instagram.com/JamilaPayneMBA If you enjoyed this episode, take a moment to leave a 5-star rating and review. It helps more entrepreneurs discover the show. And if something resonated with you, send me a DM @JamilaPayneMBA and share your favorite insight.  

Most virtual summits generate attention. Very few generate real revenue. In this episode of Productive & Paid, I sit down with Gemma Bonham Carter to break down exactly how she built a virtual summit that generated $90,000 in year one — without using it as a back-end launch. We talk real numbers. Real pricing decisions. Real strategy. If you've ever considered hosting a summit to grow your email list, increase revenue, or build authority, this episode walks through what works and what doesn't. You'll learn: The pricing change that reduced revenue — and what she's doing differently next time What she did to increase her average cart value without raising the main ticket price The timeline and preparation required to launch a profitable virtual summit We also touch on how Gemma is building AI assistants to streamline her backend systems and how she structured her digital offers to support a year living in Paris with her family. This is a tactical conversation about monetizing a virtual summit the smart way. Topics Covered Virtual summit pricing strategy Early bird pricing vs live event pricing Increasing average cart value in digital events Sponsorship revenue for online events Building email list growth through summits Using ads to scale digital product revenue Leveraging evergreen funnels alongside live launches AI assistants for business automation Structuring a lifestyle-first digital business   Listen to The Course Creator Show Visit: https://gemmabonhamcarter.com Follow on Instagram: @gemma.bonhamcarter  

You didn't start your business to quietly resent it. And yet, a lot of successful entrepreneurs wake up one day realizing the business grew… but their life somehow got smaller. In this episode, I'm talking about what it really looks like to build a business without sacrificing your life outside of it, not someday, not after the next milestone, but now. This conversation is for you if you love your work and you also desire to have a life outside of it. In this episode, you'll hear: The subtle ways your business can slowly crowd out your life (without you noticing it) Why "freedom, flexibility, and fulfillment" don't happen automatically just because you're self-employed The questions you need to ask yourself before your calendar decides your life for you We talk about boundaries, availability, ambition, and the quiet trade-offs many entrepreneurs like us make without realizing it. We'll also cover how to start designing your weeks on purpose instead of by default. If this episode resonated, make sure you're following the show and leave a five-star rating and review on Apple Podcasts, Spotify, or wherever you listen. Ratings help more women business owners find these conversations. I would love to hear from you—DM me @JamilaPayneMBA and tell me the moment in this episode that made you pause, rethink, or say "yeah… that's me." This is Productive & Paid. Real conversations about entrepreneurship and money.  

Being productive and paid is not about doing more. It is about who you decide to be as a business owner. In this episode, I break down the identity shift behind Productive & Paid. The standards and expectations. It will change the way you see your time, your work, and your money. Because growth does not start with tactics. It starts with self-concept. I talk about the invisible standards you already live by. For money, availability and everything else that you tolerate. We'll cover how nothing changes in your business until your standards change. This episode is about raising the standard in your life and business. Internally first. Then operationally. If you have been working hard but still questioning whether you are focusing on the right things, this conversation will hit. In this episode, I will cover: Why you cannot out-earn or out-work your current self-concept How internal standards shape how you price, prioritize, and get paid What it actually means to step into the identity of a Productive & Paid business owner Download the Productive & Paid Manifesto This episode introduces the Productive & Paid Manifesto. It is a set of principles for how you work, how you value yourself, and how you relate to money. Not motivation. Not mindset fluff. Standards you can return to when old habits creep back in. Print it. Save it. Read it when you need a reset. Download the Productive & Paid Manifesto  If this episode shifted how you see yourself as a business owner, follow the podcast so you do not miss what is coming next. And leave a five-star rating and review. It helps more women find these conversations. I would love to connect with you. Reach out on Instagram @JamilaPayneMBA and let me know your favorite part of today's show. https://instagram.com/JamilaPayneMBA   This is Productive & Paid. Real conversations about entrepreneurship and money.

In this first episode of Productive & Paid, I am opening up a conversation most entrepreneurs avoid. Too many people talk about how much money they made, but they never explain how they made it. They post wins and big numbers, but skip the details that would actually help you grow. That lack of honesty creates confusion. It leads to underpricing, overworking, and women staying stuck longer than they need to be. I also call out the smoke and mirrors I see in business, especially in online education. I am not here for the performance. I want us to understand money for real. Not to chase it. Not to flex it. But to know how it works. I share why so many women were taught not to talk about money, and how that silence has consequences. I also share stories about the money lessons I learned simply because I heard other people talk about what they were doing. That type of awareness can change your life. It can change your business too. We also go deeper into what getting paid really means. It is not just revenue. It is paying yourself. It is valuing your time. It is building a business that respects your life and does not require you to disappear. If you want real conversations about making money as an entrepreneur, income-generating activities, business growth, and paying yourself as a business owner, you are in the right place. Follow Productive & Paid for weekly episodes on money, time, and what actually moves results. If you love this podcast, you are going to love my newsletter. Join The Productivity Edit for weekly inspiration, practical business moves, and real-life strategies to help you stay productive, get paid, and stop wasting time on things that do not grow your income. https://dailysuccessroutine.lpages.co/list