Matthew F. asked
I am the owner of an S-corp and have tax questions. I understand I have to pay myself a salary through W2, but the business is not making any profit right now. Is it okay to not give myself a salary for the first couple of months until I make a profit? Also, I am using Square as my point of sale, which generates 1099 forms. Where does that fit in for the S corp during tax time? As of now, the Square point of sale amount is very low and going to business expenses, not my income. Additionally, when I do start paying myself, how often and what percentage is recommended?
April 9th, 2024
Christopher R. answered
Yes, it is acceptable to not pay yourself a salary for the first couple of months if your S-corp is ...
April 9th, 2024
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