How can you pay yourself through an llc?

[Account Closed]

Paying yourself through the llc

[Natalie Kolodij]

You need to talk to your tax professional. 

An LLC can be a single member disregarded LLC- in which case you're prohibited from taking formal payroll via a w2. In this circumstance you can typically just withdraw or contribute funds as needed.

An LLC can have multiple people and be a partnership in which case you can't receive payroll or w2- it's distributions or guaranteed payments.

An LLC can elect to be an S corp - in which case it NEEDS to pay you via payroll.

However just blindly changing to an S corp is terrible advice because S corporations aren't typically a good option for rentals and we don't know what you're doing with your business.