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S Corporation Employees, Shareholders and Corporate Officers

    https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-employees-shareholders-and-corporate-officers
    Mar 16, 2021 · The definition of an employee for FICA (Federal Insurance Contributions Act), FUTA (Federal Unemployment Tax Act) and federal income tax withholding under the Internal Revenue Code include corporate officers. When corporate officers perform a service for the corporation and receive or are entitled to payments, those payments are considered wages.

Wage Compensation for S Corporation Officers

    https://www.irs.gov/pub/irs-news/fs-08-25.pdf
    The instructions to the Form 1120S, U.S. Income Tax Return for an S Corporation, state "Distributions and other payments by an S corporation to a corporate officer must be treated as wages to the extent the amounts are reasonable compensation for services rendered to the corporation."

What Is a Reasonable Salary for an S Corporation Officer?

    https://www.thebalancesmb.com/what-is-a-reasonable-salary-for-an-s-corporation-officer-397939
    Sep 17, 2020 · Each year, when you complete the income tax forms for your corporation or S corporation, you must report corporate officer salaries if the corporation's …Estimated Reading Time: 5 mins

S Corporation Shareholders and Taxes Nolo

    https://www.nolo.com/legal-encyclopedia/s-corporation-shareholder-taxes.html
    If you receive distributions from your S corporation, you'll rely on the information provided on your Form K-1 to report and pay tax on that income. You'll need to use the information from the K-1 to complete one or more required IRS schedules. In most cases, you'll use the K-1 at least to complete Schedule E, Supplemental Income and Loss.Estimated Reading Time: 8 mins

1099 or W-2 for Shareholder-Employees of S Corps? Updated ...

    https://rcreports.com/resources/reasonable-compensation-blog/1099-or-w-2-for-shareholder-employees-of-s-corps-updated-for-199a/
    Feb 01, 2019 · FS-2008-25 states: Corporate officers are specifically included within the definition of employee for FICA (Federal Insurance Contributions Act), FUTA (Federal Unemployment Tax Act) and federal income tax withholding under the Internal Revenue Code. Generally, an officer of a corporation is an employee of the corporation.Estimated Reading Time: 5 mins

Tax Help: Where do I report income from my corporation on ...

    https://www.jklasser.com/askjk/where-do-i-report-income-from-my-corporation-on-form-1040/
    Jan 21, 2014 · However, if you have an S corporation, in addition to reporting compensation and dividends, you also report your share of corporate profits on Schedule E of Form 1040. The amount reported on Schedule E is taken from Schedule K-1 issued to you by the S corporation. Tags: Form 1040, Form 1120, Schedule E, Schedule K-1

Accounting for S-Corporation Capital, Income, and Expenses

    https://www.thebalancesmb.com/s-corporation-accounting-3193222
    Aug 20, 2018 · S corporation accounting is generally the same as C corporation accounting in that income and expenses are reported at the corporate level. The nature of various types of income and expense are identified at the corporate level as well.Estimated Reading Time: 8 mins

Solved: Does a officer of a C Corporation have to report ...

    https://ttlc.intuit.com/community/business-taxes/discussion/does-a-officer-of-a-c-corporation-have-to-report-all-compensation-for-payroll-tax-purposes-or-can-a/00/672234
    Jun 06, 2019 · As an officer/shareholder/owner of the corporation, you are required to pay yourself a reasonable wage if you are materially involved with the management or activities of the company.Estimated Reading Time: 10 mins

Solved: As a S Corp owner, I paid W2 wages to myself. When ...

    https://ttlc.intuit.com/community/taxes/discussion/as-a-s-corp-owner-i-paid-w2-wages-to-myself-when-doing-my-corp-federal-tax-returns-do-i-enter-such/00/754580
    Jun 08, 2019 · Your answer is that the reporting process is substantially the same on an 1120 as on an 1120-S; so the above advice applies to you as well. If your corporation has receipts in excess of $500,000, and you report Officers Compensation, then you'll use Form 1125-E too (just like an S-Corp).Estimated Reading Time: 7 mins

How to Report S Corporation Shareholder Withdrawals Your ...

    https://yourbusiness.azcentral.com/report-s-corporation-shareholder-withdrawals-28071.html
    Salaries paid to shareholders of an S corporation are reported on Form W-2, as are all wages and salaries, and on Line 7 or 8 of Form 1120S.

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