Does Payroll support a owner operator distribution (draw)

Daniellelaws616 — Tue, 05 Nov 2019 12:36:55 GMT

Does Payroll support a owner operator distribution (draw) If so how is it set up

Re: Does Payroll support a owner operator distribution (draw)

Tom — Fri, 08 Nov 2019 02:07:10 GMT

Thanks for bringing this up—I checked in with our Payroll folks and I have some more information for you.

We currently only support business owners that are also W-2 employees. W-2 employees are subject to withholding taxes, which are taken each pay period, including ones prior to joining Square Payroll. Although a business owner can choose to do an owner’s draw (a draw is not taxed at the company level), this is something that will have to be done outside of Square Payroll, preferably with advice from your tax professional.

Hope this helps clarify for now. Keep in touch for updates as we'll announce any developments on this request.

Re: Does Payroll support a owner operator distribution (draw)

Daniellelaws616 — Fri, 08 Nov 2019 13:33:31 GMT

Thank you Tom

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Does Payroll support a owner operator distribution (draw)

Re: Does Payroll support a owner operator distribution (draw)

Re: Does Payroll support a owner operator distribution (draw)