How I Pay Myself From Amazon FBA & Online Business

How I Pay Myself From Amazon FBA & Online Business



I am going to share with you how I structure my business and how I pay myself from my Amazon FBA and online business.

I am not an accountant and I am not a professional bookkeeper (though I do keep track of my own books and run my own Payroll). What I suggest and recommend in this video may or may not be suitable for you. It is best to talk to a financial advisor and a tax accountant in your local area to discuss your personal and business needs so they can advise you on how to properly pay yourself and structure your business. However, I will share with you exactly how I pay myself and why I do this so you can get an idea to get started! Those asking how I transfer USD to CAD, I have US based bank accounts and I transfer USD to CAD by using XE Exchange (google this).

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26 Thoughts to “How I Pay Myself From Amazon FBA & Online Business”

  1. u've revealed the open secret so well..keep it up!
    Thanks for sharing the good knowledge..

  2. This video is spot on great advice. I am just starting my online journey and decided to incorporate for the same reasons. I'm in Ontario, but created a Canada Inc company. Now hopefully, I can get some sales going and quit that nine to five.

  3. I'm a Canadian FBA seller too! There's more of us than I thought.

  4. Have you thought about using tax loop hole to save even more money? LoL
    I saw some people doing it by sending money to other tax free country as expense~ then send it back as gift LOL

  5. sounds like you got this whole thing sorted out really well!

  6. Hey! Thank you for this video
    Can you make a video that shows how to do new product listing on Amazon..? No one really teach about new product listing….

  7. Live in BC, this is gold for me

  8. One of your best and most informative videos yet. Thank you so much

  9. Great video. Do you have any tips on how you choose an accountant? Like what you look for or what questions you might ask? Thanks!

  10. Thank you so so SO much for touching on this topic. I've been in business for over a year now so this year I had to file business taxes for the first time. Trying to grasp it all.. I'm Canadian as well (just across the pond from you on vancouver island) so I find all your videos super helpful! Thank you!!

  11. That means you're paying yourself the same amount bi-weekly, regardless of how much your business makes right?

  12. Thanks for doing this video, you explained it so well.
    If I'm understanding this correctly. Corporate gets taxed less than Personal Tax, so that means it's better to keep majority of my earnings in my corporate than to pay myself a large amount.
    For example: Business makes 100k, I pay myself as an employee $40k. Therefore, I get personal taxed $40k, and corporation gets taxed $60k IS A SMARTER STRATEGY THAN paying myself $60k, and only keeping $40k in the corporation. Would that be right to say?

    I read somewhere that to avoid income tax is by owning a business and having the business pay for everything you need, and then pay yourself as little as possible aka the "sweet spot"

  13. Rob

    Thanks Tamara, keep pumping out more content

  14. Great Info. Tamara is it possible to name your tax accountant? I am also in Vancouver looking for a tax accountant who is familiar with Amazon .

  15. Still confused how you pay yourself? You take the money from your business bank account to pay your personal account?

  16. Video is on point. Thanks

  17. I am always so confused about business tax. Lol. So if you make 30k+ without any employees etc, do you incorporate still?

  18. In other words get a good accountant folks

  19. When pple ask me how do you know a little about online marketing,i say Tamara,she is my mentor! But av not registered for her program yet buh she is a master when it comes to online marketing! check her out!

  20. What ever you guys do, do not hire 1800- Accountant , you might of do it yourself.

  21. Tamara, great video. I see why you would go corporate and pay yourself salary as an employee.

    However, if one doesn’t need to make big purchases, it doesn’t make sense to be an employee as by being so you would be double-taxed (tax as corporation and tax as employee). Since you’re a solo entrepreneur, you’re paying double tax. In addition, paying fees to do corporate tax is fairly high.

    In the event that a person only incorporates, what would be the best ways for one to take the money out of your corporation to live without being an employee?

    Thanks very much for the detailed video! Cheers!

  22. Good video Tam. I live in the US and I did an LLC before selling just to protect myself.

  23. I think at the very least once you get to a certain size you have to go LLC/ corp just to save yourself from potential liabilities/lawsuits on top of the better tax structures.

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