Solved: I did not take a personal income from my small business but it is showing up as personal income that I am being taxed for. How do I change this?

I did not take a personal income from my small business but it is showing up as personal income that I am being taxed for. How do I change this?

If I don't write a check from my business account to my personal account, am I being taxed for that money on both a business and personal level?

posted

If you are a sole-proprietor of a small business and file a Schedule C, then any business income is considered as "personal" income. You are only taxed once on it if you do it this way.

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If you are a sole-proprietor of a small business and file a Schedule C, then any business income is considered as "personal" income. You are only taxed once on it if you do it this way.