lrinco
Returning Member

After you file

The Employee Retention Credit has totally changed my tax profile and I'm confused. My S corp usually pays for my car and other costs. Now my S corp income is MUCH lower, but I have this Employee Retention Credit that needs to go out of the S corp as W2 pay. Am I stuck with a much higher W2 income along with much lower overall income? Can I loan my S corp money for the car and other costs?