How do I pay myself if I am in a single member LLC? I've heard that I should take a salary, but for the first few months my business will not get any sales / incoming cash so I don't see how this is possible.
Realistically, the way my business is setup, I will probably only have to reinvest about 10% into the business again to keep it running strong. Thus, I want 90% of the profits to go into my personal bank account. How can I do this without salary?
Also, if I take a silent partner on with 1% of the business to avoid becoming a single member LLC, how do I pay this partner? Does this person have to do anything with their taxes or just sit back and reap the 1% reward?
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