Legal Question in Business Law in California

Unless you incorporated your business, you don't have a salary. You have profit or loss. There is no way to tell you what your tax would be without doing your taxes, on the business and personally. Talk to a tax accountant or get a copy of TurboTax.

Many small businesses are "sole proprietorships" and as such need to keep books and determine their profit and loss for tax and other purposes, but the compensation to the owner is NOT a salary; instead, it is the total income from the business. The owner can leave some or all of the income in the business, or draw it out as he pleases (within reason), but it makes little difference because the income is all his, whether drawn out or retained, and all taxable, whether drawn out or retained. So, your tax is not based on what you take out of the business. It's based on the taxable net income of the business. You'll probably report your revenue, expense and net income on Schedule C of Form 1040. Get a copy and study it. Make sure your business keeps accurate books that will provide the data you'll need to report on Sch.C. If you are using a corporation, the rules are slightly to very different depending upon whether you have elected to be taxed as a so-called "S" corporation. If you are an LLC or a partnership, still other rules apply.