Fear of failure and a lack of support or delegation can lead business owners to work more than their employees. Over 80% of business owners work more than 40 hours a week. When a traditional salary doesn’t match their ever-changing job responsibilities, many seek a more flexible option. Owner’s draws, also known as “personal draws” or “draws,” allow business owners to withdraw money as needed and as profit allows.
A draw may seem like a superior option over a salary. But is it always the best solution? What are the tax implications? Keep reading to determine if owner’s draws are the best fit for your business.
Dispatches From The Front 