Financial Software Questions? Ask IT Support for Answers ASAP
Hi, I'm Robert and I'll be helping you with your financial software question.
that is going to depend on how the company dealt with the money. If you issued a check to yourself like a bonus check and it was an expense in the company books than you can report it as personal income ie 1099 misc You can also deduct the company expenses from the income.
If the company is still holding that money on the books and you just kind of borrowed it from the account then it is still showing up as income from the company and you should probably deduct it from the final profit for the company as if you paid it back and then got your 10% share and you should add the expenses to the company expenses before taxes.