How do you make entry if owner draws money from company?

If the owner intends to pay back the money: Dr. Accounts Receivable and Cr. Cash.

If the owner does not intend to pay it back but the company owes the owner money: Dr. Loan/P to Owner and Cr. Cash

If the owner does not intend to pay it back and the company does not owe the owner money:

Dr. Retained Earnings and Cr. Cash This would either be considered a dividend or a distribution, depending on the structure of the company (corporation vs. partnership vs. LLC vs. sole proprietorship)

Alternately, it could be treated as Net Pay. In that case, you would "gross-up" the amount charged to Salary Expense as a Debit and Credit Payroll Taxes Payable and Credit Cash for the amount taken.