Owner's draw vs payroll salary: paying yourself as an owner with Hector Garcia | QuickBooks Payroll

Learn more about owner's draw vs payroll salary and how to pay yourself as a small business owner: http://intuit.me/2Pyhgjf In this QuickBooks Payroll tutorial, @Hector Garcia CPA answers the question, 'How do I pay myself as a small business owner?' Learn the difference between an owner’s draw and a payroll salary and why this is such an important decision to make when considering how to take money out of your business. In this video: 0:00 How to pay yourself as an owner 1:29 Understanding Payroll Salary vs Owner's Draw 4:07 Example of owner's draw 5:12 Example of owner's salary via payroll 6:22 Best practices for owner compensation Leave a comment below and let Hector know what other questions you have about paying yourself as a small business owner or any other payroll topics. Hector Garcia is a CPA (Certified Public Accountant), QuickBooks consultant and business owner. He is also just a big fan of Intuit QuickBooks! He has teamed up with QuickBooks to produce this video series about payroll. Disclaimer: This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them. We have over 100 step-by-step tutorials to help you master QuickBooks. Browse our entire library by topic: Getting Started - https://bit.ly/2PaHuGz Accounting Basics - https://bit.ly/2Jc5dSX Sales - https://bit.ly/2Weq7WV Invoicing - https://bit.ly/2JelfeQ Expenses - https://bit.ly/31HK89r Reports - https://bit.ly/2MADTzM Reconciliation and Preparing for Tax Season - https://bit.ly/2MAfydj Managing Inventory - https://bit.ly/2W8NQaH Projects (without QuickBooks Payroll) - https://bit.ly/2P9UWdF Projects (with QuickBooks Payroll) - https://bit.ly/2W5Tjio Subscribe to our YouTube channel: https://intuit.me/3bOj0M2 Visit QuickBooks.com: https://intuit.me/QBO #QuickBooks #HectorGarcia #Payroll The world’s largest workforce works for themselves. We work for them by providing smarter business tools. QuickBooks #BackingYou.