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Get your taxes done using TurboTax
Your S corporation is a pass-through entity and, as such, does not pay federal income tax (unless it was formerly a C corporation, which it was not).
As a result, you may need to pay estimated tax on any net income your S corporation passes through to you on a Schedule K-1.
Further, you need to ensure your S corporation is paying you a reasonable salary for services you perform on behalf of the corporation (which salary and withholding will be reported on a W-2 the corporation issues to you).
‎June 25, 2023
6:20 PM