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

<p>This week Hunt discusses a common misconception surrounding S-Corp draws and how they are taxed.</p><p>• What is a draw and how do you know how much you can take out of your business?</p><p>• Does the amount that I pay myself have any relationship or impact on how much in draws I can take?</p><p>• Do I pay tax on my draws?</p><p>• What are issues that I could end up paying taxes on my distributions from my business?</p><p>Thanks to our partners, NAPA TRACS and Promotive</p><p>Visit <a href="NAPATRACS.com" rel="noopener noreferrer" target="_blank">NAPATRACS.com</a> and <a href="https://gopromotive.com/" rel="noopener noreferrer" target="_blank">GoPromotive.com</a></p><p><br></p><p>Paar Melis and Associates – Accountants Specializing in Automotive Repair</p><p>Visit us Online : <a href="http://www.paarmelis.com/" rel="noopener noreferrer" target="_blank">www.paarmelis.com</a></p><p>Email Hunt: <a href="mailto:podcast@paarmelis.com" rel="noopener noreferrer" target="_blank">podcast@paarmelis.com</a></p><p>Get a copy of my Book :<a href="https://paarmelis.com/your-perfect-shop-book-download/" rel="noopener noreferrer" target="_blank"> Download Here</a></p>