Thank you very much for the clear explanation, its what I figured for the personal tax liability but had no clue that the "reimbursement" had to be done as a distribution, so thank you very much for...
Type: Posts; User: NatFreq; Keyword(s):
Thank you very much for the clear explanation, its what I figured for the personal tax liability but had no clue that the "reimbursement" had to be done as a distribution, so thank you very much for...
I am 50% owner of an s-corp which had a profit last year. I did not take any distributions or bonuses but the profit was passed on to me since the business is an S-corp. First question, how do I...