We just did a change this year from LLC partnership to LLC S-Corp. We have been paying ourselves payroll via QB Payroll so will be issued W-2's. I understand that the payroll is business tax deductible on the S-Corp side which is part of what causes tax savings. About half the year we weren't doing payroll since we had not been approved as an S-Corp right at the beginning of the year. I want to be prepared for taxes this year and want to know if it might be a good idea to pay ourselves a "bonus" at the end of the year to make sure our LLC S-Corp does not owe taxes either? It won't be an exorbitant amount since we are still a small business without that much capital in our account.
