Hello,
Well, I'm in need of some education as it pertains to my S-Corp. I too am the sole officer/owner and set it up myself to help reduce my tax liability. Frankly, I don't know what the "He" double hockey sticks I'm doing. That being said, I made less than 80% of what I estimated, and paid 3/4 of the estimated taxes to both the Franchise Tax Board and Feds. I am in the same boat with needing to submit W2 by tomorrow, and never withheld Social Security and Medicare. Am I understanding correctly, since I paid estimated federal and state taxes, am I alright with not deducting for SS & Medicare?
I hope I'm being clear.
Thank you,
