![]() ![]() If you have a net profit of $400 or more on schedule C you will pay SE self employment tax on it in addition to your regular income tax. ![]() All the business income and expenses are your personal income and expenses in the first place. You don't pay yourself or enter a salary or withdrawal for yourself. ![]() As a sole proprietor, you are not an employee of the business. Sole proprietors cannot take a withdrawal or salary and include it as an expense on their tax return. You cannot deduct your own salary or any personal withdrawals you make from your business. ![]()
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