As a single member LLC owner, you can't issue yourself a W-2 - you pay Self-Employment tax on your income. If you elect S-corp status as a pass-through entity, you would pay yourself a salary, but not as a self-employed LLC owner filing Schedule C. You can only be employed by a separate entity and if you file a schedule C, you and the business are the same entity.
You report all of your business income and all of your expenses on Schedule C. You pay tax on the net income. Any draws of cash you take are not business expenses so they don't get reported.
W-2 income you receive is not business income.
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