Are S-Corp Distributions/Draws Taxable? [E070]

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

Paar Melis and Associates – Accountants Specializing in Automotive Repair

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