Thanks for both the answers. While i understand the normal working of an s corp and distribution/wages, i really dont understand how forms work. That being said, i understand he is saying to take it all as distribution in the beginning until i make any serious wages. He said we can look at Q2 and start payroll then. So i understand now that K-1 has to do with distributions under 1120. Now as far as payroll goes, can we still run it quarterly or has to be done monthly?
