Re: LLC Basics Chat with Virtual Office Goddess - archived live forum event
Since an S Corp also has pass through income can you just cut yourself a check without paying any payroll taxes on it? or do you have to take out payroll tax?
Also, I noticed that you mentioned you need to make deposits for taxes for net profits for an LLC is the same true for an S corp? I have always run my business at a loss so I have never made any deposits and I wasn't sure if it is was because I did not have any profits or because I did not need to? I would like to think my accountant would have mentioned this if I needed to but hey you never know, I am actually in the process of transitioning to a new CPA now.
Thanks for your feedback.
Kim
|