Business & farm

You simply withdraw $$ from the business account, however, the $$ withdrawn are NOT a deduction on the Schedule C.

Under this method, you will pay quarterly estimated tax payments using the 1040-ES and whatever form your state requires assuming your particular state has an individual income tax.

 

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.