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  1. K

    Set up as an S-Corp but I have not made any W-2’s for myself

    @family1stdad The sad part is that they have been in business as a CPA and a tax professional for over 30 years. The reason why I even started going down this rabbit hole was because a friend of mine is in the same boat with these people. Same exact issues. Same questions being answered the same...
  2. K

    Set up as an S-Corp but I have not made any W-2’s for myself

    @family1stdad Only about $5,000 profit per year. So very little. I personally don’t think that this should be an S-Corporation to begin with. They set it up this way to help on our personal taxes. I guess that should have been the first red flag.
  3. K

    Set up as an S-Corp but I have not made any W-2’s for myself

    @family1stdad I did not pay any social security or Medicare through the business because I technically never paid myself a salary like I am supposed to. I know this now. The total profit for each year of business was included as additional income on our personal taxes. They told me this is okay...
  4. K

    Set up as an S-Corp but I have not made any W-2’s for myself

    @sfender Thank you. This is very helpful. I am in the process of finding another CPA.
  5. K

    Set up as an S-Corp but I have not made any W-2’s for myself

    The “professional” who set up my business as an S-Corporation told us that since I do not have any employees I do not have to have a W-2: I am the sole employee. It was explained to me that the profit from my business each year is brought over to our personal taxes and is listed as extra income...
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