New S corp with no income help?
Hello everyone, I am new here and a new business owner (havent launched yet). I decided to join here for advice and to converse with other small business owners. So I am starting an S corp in Illinois from home and I am the sole employee. I registered with Illinois and the IRS. I know I am supposed to pay myself a reasonable salary according to the IRS but I heard you don't have to pay yourself anything at start-up until you get some decent income coming in. (I think I read that in a post here) Illinois sent me something saying I need to pay my withholding tax monthly and file returns quarterly. Can anyone tell me If I have to do that even with no money? and as far as my salary goes does it have to be a steady amount like say $400 a week or can I just take money out whenever I want and say "add this to my salary"?