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G
geralzinah
April 1, 2021
Question

My business made money but not enough for me to pay myself . What form do I fill out?

  • April 1, 2021
  • 1 reply
  • 0 views
No text available

1 reply

B
BillM223
April 1, 2021

It depends on the type of business it is.

 

Is this a sole proprietorship? A corporation? A partnership?

 

If it is a sole proprietorship, then the owner does not take a salary, but just takes owner draws as needed. Owner draws are not reported on Schedule C.

 

So before we get too far down the road, come back and tell us about this business and its ownership.

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