Saturday, March 28, 2020

Do business owner draw a salary from their own business?

Melvina Bieri: First, it depends on the business structure - sole proprietorship, corp, s corp. partnership, etc. However, almost all business owners take money from the business whether it's a salary, draw or distribution. The money taken is taxable to the owner and is generally an expense to the business. However, the owner and the business may be one and the same.

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