Podcast Episode

00:27:23

Episode 56: Strategies for Paying Yourself as a Business Owner

Figuring out how to pay yourself effectively can be daunting- don't do it alone! In this episode, we walk you through key considerations for figuring out how to get paid as a business owner on the farm or ranch.

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In this episode, Kate, Eva, and Rachel explore the two main ways business owners can pay themselves: owner’s draw and salary. Each has benefits and drawbacks, and you may need to use one or the other depending on your business structure. Tune in to learn how to pay yourself  in alignment with accounting responsibilities and your business and personal goals. Along the way we share real stories and insights into managing this essential aspect of running your own business!

This work is supported by the Farm and Ranch Stress Assistance Network (FRSAN), grant no. 2021-70035-35372/project accession no. 1027099, from the U.S. Department of Agriculture, National Institute of Food and Agriculture.

Guiding Resilience: A Legal Workshop for Ag Service Providers, Fall 2025

This five-week workshop empowers ag service providers in guiding
farmers and ranchers towards legal resiliency.
Join us in learning the 10 best practices of farm legal risk management.

Live sessions meet at 12 pm CDT on 9/16, 9/23, 9/30, 10/7, and  10/14

Guiding Resilience: A Legal Workshop for Ag Service Providers, Fall 2025

This five-week workshop empowers ag service providers in guiding
farmers and ranchers towards legal resiliency.
Join us in learning the 10 best practices of farm legal risk management.

Live sessions meet at 12 pm CDT on 9/16, 9/23, 9/30, 10/7, and  10/14