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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You simply withdraw $$ from the business account, however, the $$ withdrawn are NOT a deduction on the Schedule C.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.
Also keep in mind the date of replies, as tax law changes.
‎July 6, 2020
6:25 AM