I own a dog training company, an LLC in the state of Florida. When I collect payments from my clients it goes into my business checking account. From there I pay myself by moving the money from my business checking to my personal checking account. Under the "wages & income" tab which amount do I report?
Ex: In 2020 my company made $5,000 but I only "paid myself" $1,000 by transferring that money from one account to the other.
Do I report $5,000 or $1,000 in the "Wages & Income" tab while filing with turbotax?
(numbers used are just for the purpose of this example.)
