5 min read
How Are Owner Draws Taxed? Breaking Down IRS Rules
5 min readAn owner’s draw happens when a business owner takes money from the company’s profits for personal use. The way taxes work for an owner’s draw depends on the type of business. This can be a sole proprietorship, partnership, LLC, or S corporation. It’s important to know the difference between an owner’s draw and […]Continue reading "How Are Owner Draws Taxed? Breaking Down IRS Rules"