2007-08-26 08:38:31 · 4 answers · asked by ♥ That girl T ♥ 3 in Business & Finance ➔ Taxes ➔ United States
No, not likely - it would most likely be an additional investment into your business. I'm assuming you are saying that your business needs more money that it has, so you are putting in some more money but have paid yourself during the year.
2007-08-26 10:54:44 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
To answer your question properly one would need to know what form of ownership you are operating your company under. Also a better understanding of what you mean by "give back part of what I've paid myself. I take it that you are reinvesting cash that you have received in some sort of distribution to your self.
2007-08-26 10:33:18 · answer #2 · answered by ? 6 · 1⤊ 0⤋
You don't have to give anything back, the profits are yours. You can reinvest profits to grow your business if you wish but still pay income tax on those profits.
2007-08-26 09:39:00 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If it's a corp, you may mean a loan - it's hard to tell - your question is so poorly worded. Repost or try to clarify.
2007-08-26 11:43:27 · answer #4 · answered by heart_and_troll 5 · 1⤊ 1⤋