What is the owners draw in self employed taxes?

Answer by  Chaneygirl (1755)

The owner's draw is any money (or possibly goods) the owner takes out of the business. It is not a deduction for tax purposes. The net income of the business is taxable regardless of how much an owner takes out of the business. If you are something other than a sole proprietor, the answer may be different.

Answer by  Chaneygirl (1755)

Owner's draw is the money you take out of the business for your own personal use. It is not a business expense and is not deductible.