Is there a general rule for paying yourself when having your own business?

[bee9984]

Dh is going to start his own business to sub-contract himself out, there won't be many hours to start I don't think so he is definately going to be keeping his day job.

He still needs to get his business lisense,open a business account with our bank,register for tax purposes etc...He will be getting this started on Monday.

Dh has already been called for a job to do this upcoming week. I am wondering if there is a general rule with paying yourself out of each job?

It might be different in Canada then in the U.S.A but I am still wondering what everyone does no matter where you live.

Thanks.

[suki]

In the US, if it's a sole proprietorship, you get the profits and you can put yourself on a salary... if you have the consistent funds to do so.

A general rule of thumb is that the hourly wage is 1/3 the cost of employment, for self-employed. So, whatever he wants to make x3 should be his billable rate.