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Get your taxes done using TurboTax
Unfortunately, any funds paid to yourself are considered your own distribution of your net earnings. They would not be considered a business deduction, but the amount paid is still subject to Self-Employment tax (FICA) of 15.30% because the amount you hoped to claim as a business deduction would require it being paid to someone else.
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‎October 25, 2023
4:52 PM
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