Hi There:
Unless barred by contract the money is yours to use whenever and however you need. However it's important to segregate business income and expenses in an account separate from your personal account. From your business account, you should perform monthly bookkeeping which will keep track of business income and expenses. Our sister company QuickBooks has world class software to assist. After bookkeeping you will prepare a a year end income statement, which you will the use to prepare schedule C of your tax return. Btw transfers from your business checking to your personal account for bookkeeping purposes will be classified as non taxable draws.
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