Am I able to withdraw money from my business account and transfer it to my personal account. I normally don't take a salary.

[VolvoGirl]

Depends.  Are you filing it as self employment on Schedule C or do you file a separate business return?

[linda820pm]

I am an independent contractor.  I file a 1040-SR and include what I earn on that return.

[linda820pm]

Yes I file a Schedule C.

[VolvoGirl]

Then yes.  All the business accounts and income and expenses are yours personally.  The Schedule C business is a disregarded entity.  You can make deposits and pay expenses from your personal bank accounts.  It's all yours.

[linda820pm]

Thank you so much for you help.