85. Owner Distributions & What All Business Owners Must Know About Them!

10/23/24 • 14 min

Confused about transferring money from your business to personal accounts? Whether you run a partnership, S-corp, sole proprietorship, or partnership, we'll guide you through owner distributions and explain why these transfers aren't classified as expenses.
This episode is a must-listen for business owners confused on how to account for owner distributions and how they work! Tune in and empower yourself with the knowledge to tackle owner distributions head-on.

Create a STAN Store - Click here to try it out!
Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!
Shop our business guides!
Our Instagram Page
Our family page

Send us a text

Previous Episode

84. Why Bad Bookkeeping Is Costing You Money! Common Mistakes We See

Send us a text

Are you using QuickBooks or another accounting software? Are you using it correctly?
In this episode we discuss the big issues we see with Quickbooks (mainly user errors) and the biggest bookkeeping mistakes we see often.
With QuickBooks subscription costs on the rise and many client complaints, we have a new tool in the works!
Get excited about our new bookkeeping tool set to launch in early 2025, to simplify tax estimation and expense tracking. The tool will offer more than just basic tracking; it aims to revolutionize how you handle mileage, assets, loans, and home office deductions. Let us know what else you'd like to see included!
Join the waitlist so you can be notified when it is ready HERE

Next Episode

86. Year-End To-Do List For Business Owners!

Send us a text

There are SO many things for business owners to do at the end of the year + the first month of the new year! It's a LOT!
This episodes guides you through what you should check off your list before the end of 2024. We help you get organized for tax time and explain what you can do before the year ends to reduce your taxes!
With these actionable insights, equip yourself to minimize tax liabilities, align with your business needs, and confidently step into the new year penalty-free.

What Your CPA Wants You to Know - 85. Owner Distributions & What All Business Owners Must Know About Them!

Transcript

Speaker 100:00:00.281

all of a sudden , if you took $100,000 distribution , I'm going to be telling you that you have $100,000 more in profit than you thought you did .

Speaker 200:00:08.426

And you might be a little angry with me , but Because it's adding it as an expense and it is not an expense when you take money out of your business .

Speaker 100:00: