Business & farm

This is helpful. To summarize what you said, my Schedule C should capture my gross receipts of my LLC, and my quarterly estimated taxes have been paid correctly against these gross receipts.

 

One last question regarding the owner's draw. As my LLC is paying myself, where does the payroll tax withholding get captured? I thought one benefit of single member LLC was to save on payroll taxes by only getting taxed on the owner's draw amount.