From a tax perspective (i.e. avoiding a red flag with the IRS), in order to balance this year's balance sheet, am I better off:
1) Changing the beginning year retained earnings to be higher (but it won't match last year's tax return end of year RE balance)
2) Underreport this year's profit distributions (which I don't believe impacts our taxes due)
3) Something else?
I'd like to avoid amending a past year's return...
Thanks!
