Skip to content
Balanced Bookz
Bookkeeping by a Dedicated Certified QuickBooks Pro Advisor
Balanced BookzBalanced Bookz
  • What We Do
  • Emergency Bookkeeping
  • How It Works
  • Blog
  • Contact

  • What We Do
  • Emergency Bookkeeping
  • How It Works
  • Blog
  • Contact

Yearly Archives: 2020

You are here:
  1. Home
  2. 2020

What Is an Owner’s Draw and How Does It Work?

Accounting, EntrepreneurBy balancedbookzMarch 25, 2020Leave a comment

An owner’s draw, usually just called a “draw”, is an amount taken out of money taken out from a sole proprietorship or partnership by the owner for his personal use. It’s called a draw because money is drawn out of the business. What Business Owners Take Draws?  Owners of small businesses typically don’t take a salary because…

2020 IRS Tax Payments Extended by 90 Days: No Interest or Penalties

Accounting, EntrepreneurBy balancedbookzMarch 18, 2020Leave a comment

Taxpayers and business owners received a much needed lifeline yesterday from the Treasury and IRS in response to the Coronavirus outbreak. Individual taxpayers will get a three-month (90 day) extension to pay income taxes they owe for 2019, typically due on April 15th, but will now have until July 15th, 2020. Specifically, the IRS will…

Balanced Bookz
Copyright 2017 Balanced Bookz. All Rights Reserved. Privacy Policy | Terms of Use
  • What We Do
  • Emergency Bookkeeping
  • How It Works
  • Blog
  • Contact
Internal Menu
Go to Top