I have a C-Corporation that elected for S-Corp status. I am the sole owner/shareholder. I have a regular full time job that has given me a W-2 that I am filing in my personal taxes. The income to the company has been irregular (odd consulting jobs, etc) therefore I cannot set a regular salary for myself as there may be times I go 1-2 months without any money coming in. The company made a profit and usually any time I had extra money in the business I wrote myself a check to my personal account. How do I declare that money that was paid to myself from the business since it is not a regular wage? Is this what a K-1 is for? Should I just consider all the money the company made minus expenses paid to myself since I am the only owner or only that money which I actually wrote myself checks for?
