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Business & farm
@Carl wrote:You're required to take a minimum draw from the S-Corp each year, separate from any W-2 income (It gets reported to you on a K-1).
There is no requirement to take a "minimum draw" from the corporation.
There is, of course, a requirement that a reasonable salary be paid for services performed for the corporation, but there is no requirement that additional distributions be made to shareholder(s) (obviously, if they are made, the distributions are reported on the K-1(s)).
‎January 6, 2022
9:25 AM