How to Pay Yourself: The Complete Guide to Owner’s Draws, S-Corp Payroll & Tax-Free Profits Stop guessing how to transfer money out of your business account and stop worrying about IRS audit traps. As a business owner, extracting profit legally and tax-efficiently is critical. Transferring funds incorrectly can trigger unexpected tax bills, invalidate your entity status, or result in severe penalties. This course provides the step-by-step blueprint to pay yourself legally while minimizing self-employment taxes. What You Will Master LLC vs. S-Corp Mechanics: Know exactly when to take Owner's Draws versus W-2 Salary and tax-advantaged Distributions. 15.3% Tax Reduction: Learn how S-Corp status caps self-employment tax on business net profits. Reasonable Compensation: Master IRS guidelines for setting a defensible W-2 salary that withstands audit scrutiny. Tax-Free Extraction: Set up compliant Accountable Plans to reimburse home office, cell phone, and internet expenses tax-free. Advanced Strategies: Leverage the Augusta Rule (Section 280A) for 14 days of tax-free rental income and Section 179 vehicle write-offs. Course Curriculum Module 1: Owner’s Draws vs. W-2 Payroll — Legal execution of draws, why sole props cannot run W-2 payroll, and setting up S-Corp compensation. Module 2: Tax Optimization & S-Corp Elections — Evaluating net profit thresholds ($60k+) and case studies saving $9,000+ annually. Module 3: Tax-Free Extraction & IRS Loopholes — Implementing Accountable Plans, Section 280A (Augusta Rule), and Section 179 heavy vehicle write-offs. Module 4: Compliance & Payment Portals — Managing quarterly estimated taxes, SSN vs. EIN usage, and state filing rules (like CA's $800 LLC fee). Who This Course Is For Designed for sole proprietors, freelancers, single-member LLC owners, and S-Corp shareholders generating consistent profits who want to optimize owner pay and keep more of what they earn.