I highly recommend you seek local professional advice since you are not even sure if you got the EIN as an S-corp or not.  And taking draws of less than $120  is nothing to be worried about.  The person you talk to should explain the difference between a single member LLC and a corporation  along with all the pros/cons of doing either of them. 

Thank you for your response. I know that I did not get an S corp, my EIN is an LLC. It was just my understanding that when it came to filing taxes because it is a single person LLC that it is treated as an S corp.

It matters a lot if you elected your Single Member LLC to be a S corp.  It either is or isn't an S corp.  If it is not a S corp it it a disregarded entity and you file it on Schedule C in your personal tax return.  

This first year you better go to an accountant and get your taxes setup and done right.  And to understand what you have and need to do.

I agree with @Critter that for the amount of $$ we are talking about, don't lose sleep.

Based on your facts and questions, I also agree it would be good to get some professional tax advice for your initial year so you get started on the right foot.

Some follow-up comments:

• As noted, there is a difference between a single member LLC that is treated as a disregarded entity and a single member LLC that elected to be taxed as an S corp.
• In order to be treated as an S corp, you would have needed to make a specific election and you would have received confirmation back from the IRS that they accept your election to be taxed as an S corp.
• If you have not elected to be taxed as an S corp, you are completely okay, but still advise that you get some professional advice on how to move forward and understand best practices for the type of entity you are using

@VolvoGirl  and @Rick19744   Thank you for your responses, I appreciate your insight. That all makes more sense now. I did not elect to be an S corp. I will definitely be using a professional to file my taxes and will reach out to one regarding best practices. 

You are welcome.