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Level 1
September 9, 2021
Question

S-corp

  • September 9, 2021
  • 1 reply
  • 2 views

There are a few ways that a shareholder/owner can withdraw earnings from the business.

1.  distributions from S Corporation earnings
2.  wages or salaries
3.  repayment of loans
4.  reimbursement of expenses

How do I get, aside from my fair salary distributions, from my single member s-corp #'s 1 & 4 above?

1 reply

M-MTax
Level 15
September 9, 2021

How do you get it into the Business program or how do you do it from an accounting standpoint?

Critter-3
Level 15
September 10, 2021

Simply have the company write you a check then cash it.