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Business & farm
Although it is generally recommended to pay yourself a "reasonable salary" from your S-corporation, you can choose to have no salary or less than reasonable compensation if you do not want or cannot pay yourself a salary.
In future years, when you and your daughter do pay yourselves salaries, you can read the IRS Fact Sheet Wage Compensation for S Corporation Officers for guidelines on establishing reasonable salaries.
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ā€ˇFebruary 7, 2021
11:25 AM