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Self employed
Just one question before I offer this excellent answer from MichaelL1 below. How are you going to live without income from the S-Corp? You can always pay yourself and have a greater loss on the corporation.
There is no discussion I can find on how often you need to pay yourself. Everything I find, just says if you are profitable, you must pay yourself a reasonable wage. So, once a year, or throughout the year will work as long as it is paid, and it is reasonable wage for work preformed.
"The IRS will not object to the SCorp making zero payments to the owner employee when the business is earning little or no income. But, when the business is making money, it must first pay the owner-employee a reasonable compensation before making any payroll tax-free distributions with any excess funds."
‎June 7, 2023
8:52 AM