Are S-Corp Distributions/Draws Taxable? [E070] - Business By The Numbers

1. This week Hunt discusses a common misconception surrounding S-Corp draws and how they are taxed.

• What is a draw and how do you know how much you can take out of your business?

• Does the amount that I pay myself have any relationship or impact on how much in draws I can take?

• Do I pay tax on my draws?

• What are issues that I could end up paying taxes on my distributions from my business?

Thanks to our partners, NAPA TRACS and Promotive

Visit NAPATRACS.com and GoPromotive.com

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online : www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book : Download Here