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Business & farm
That does sound like 941 is required from the right beginning of a S Corp.
Well, if there is no profit for a while, and one has to pay himself some salary, therefore payroll taxes, that seems to be losing money for just opening a business. :(
In addition, should I wait until I hear back from IRS about my 2553 application before starting filing 941? Because strictly speaking, the LLC is not a S Corp yet before 2553 is approved by the IRS, right?
‎April 21, 2022
1:24 PM