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in this video i want to talk to you about three ways that you extract profits from your business if youre running it as an s corporation okay so if you are thinking about having an s corp or you already have one this video is just going to cover the three ways that you know you as the owner of the business can extract profits from the business the first one is reasonable compensation the second one is called an accountable plan and the third one is via distribution so lets talk about all three real quick number one reasonable compensation if you run your business as an s corporation you should be paying yourself what the irs calls reasonable compensation you might hear this referred to as a salary or that you need to be on payroll or what have you all right but this is one way that youre gonna extract profits from your business and from your wages that get paid from the s corp youre going to pay social security tax medicare taxes and federal income tax and if you live in a state t