Business & farm

The short answer is that you should go to a good tax professional that is experienced with S-corporations.

 

This is really not something a first-time should be handling.  Besides the Federal W-2/W-3, there are the employer forms to pay withholding and employer FICA, Federal Unemployment, State Unemployment, other state requirements and maybe more.  And even though TurboTax claims it can help you with the corporate return, it really should be done by a tax professional, especially for a first-timer.

 

On another note, unless your state has an exemption for single-owner S-corporations, the Department of Labor requires more frequent payroll than annually.