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Business & farm
I'm a 100% owner of an s-corp. When I pay myself, I transfer money from my corporate account to my personal account and it's characterized in QB as "employee salary" -- okay. However, when I make estimated tax payments to the IRS and to the FTB (California), my understanding is that that is also my compensation, being withheld by the s-corp. What should I characterize those payments as? Now that I am doing my business takes using TurboTax for business, it is not catching those estimated tax payments as my "employee salary" and the numbers don't add up.
‎January 19, 2022
5:06 PM