MinhT1
Expert Alumni

Deductions & credits

No, as a sole proprietor, you do not pay yourself. If your business has income, you pay income tax and self-employment tax on it.

 

You can make cash drawings on the business. These cash drawings are not reported on your tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post