Hi,
I wanted to find out if you have an LLC taxed as an SCorp, your profit (after taxes, payroll and expenses) that you pass through to your personal tax return that is then only taxed as income tax.
What can you do with that money, does it need to stay in your business accounts? Can you as the business owner just take the money and spend it on whatever you feel fit?
Also if quickbooks has failed to correct an incorrect w2 and filed the incorrect w2 with the IRS how do you personally correct that (meaning what forms do you need to fill in with the IRS) ?
Thank you all for any help