Payment Schedule, Payroll for Owners, & Yearly Reviews #AskSwenk ep 35
What’s the Best Payment Schedule for Your Business?
Welcome to episode thirty five of my #AskSwenk series. In this episode, I discuss the best client payment schedule and how to get your clients to stick to it. Plus, whether the owner should be on payroll and how to handle those dreaded annual employee reviews.
Let’s jump right into it!
{1:14} Stuart asks: “We have tried to implement your payment schedule of 50% upfront, then 25%, 25%, based on milestones or timelines. However, we haven’t had any success with this, and clients have pushed back hard to get this upon them signing off on the work. Aside from not working with these clients, how have you handled pushbacks like this?”
{4:44} Adina asks: “Do you pay yourself a salary on payroll? My accountant says I need to pay myself like an employee and then remit payroll tax …for myself! Just wondering if this is common practice.
{6:37} John asks: “Should my company keep doing yearly reviews for my employees?”
Related: http://jasonswenk.com/askswenk36
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