<prompt> Human: Hello PF,I recently started a business and have begun to make a little money. So far Ive deposited all of my earnings into a checking account at a local bank. I used some of the earnings to pay the property tax for some land I own in Ohio about a month ago. Other than that, I havent touched it.How do I pay myself a wage?Assistant: Your business income is your personal income, since there is no legal distinction between you and your business.Human: So how is it taxed - or is it? I have no idea what Im doing here.  <response>: It is taxed like any other personal income. You are just responsible for both sides of the FICA taxes. 