The WealthAbility Show with Tom Wheelwright, CPA cover image

The Right Way To Take Money From Your Business

The WealthAbility Show with Tom Wheelwright, CPA

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The Worst Way to Take Money Out of Your Corporation

This is a great time of year to do this. Sit down with your accountant and go through, ok what? How should i be taking money out of my company? I've got money that's kind of built up over the year. I want to take money out of the company. How should i do that? Most of the time it's going to be a distribution. And once in a while, it'sGoing to be a loan. A loan will never result in capital gain. If you borrow money from the corporation, you're never going to have capital gain. So if you're in a situation where you might have capital gain, then you want to borrow the money. Now

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