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 PromotiveVisit NAPATRACS.com and GoPromotive.comPaar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online : www.paarmelis.comEmail Hunt: [email protected] a copy of my Book : Download Here