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Business & farm
One of the biggest IRS rules for S Corps is anyone who is greater than a 2% shareholder MUST TAKE reasonable compensation from the S Corp as a W-2 employee. Here's some reading for you:
S Corporations | Internal Revenue Service (irs.gov)
S Corporation Employees, Shareholders and Corporate Officers | Internal Revenue Service (irs.gov)
‎February 16, 2021
2:13 PM