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Is a shareholder draw corp considered an expense?

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Is a shareholder draw for...
Is a shareholder draw for a corp considered an expense?
Submitted: 2 years ago.Category: Tax
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Answered in 9 minutes by:
11/18/2015
Tax Professional: Lev, Tax Advisor replied 2 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,709
Experience: Taxes, Immigration, Labor Relations
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That is NOT deductible business expense for the corporation.
But if the shareholder is also an employee of the corporation and the draw represents wages - that generally would be deductible business expense for the corporation.
Please verify your specific circumstances and let me know.

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Tax Professional: Lev, Tax Advisor replied 2 years ago

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If you still have any doubts, need clarification - please be sure to ask.
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