sccas
Employee Tax Expert

Business & farm

Hello and great question.  I'm not sure if you have taken money out via distributions.  If you have, I recommend that you work with your bookkeeper to reclass some of these transactions. 

You can also run payroll as of this month.  Here are some follow up questions: Have you determined your reasonable compensation? If so, you can run a payroll in that amount or close to it. Quickbooks payroll can help you run your first payroll, but they wont advise on the figures.  You will need to determine that first and then reach out to them for help.

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