paying self on payroll

[justbeach03]

I am w-4, does anyone see a problem with paying myself, as I always have, including bonus when the whole spa gets bonus for making goals?

[justasking]

No, I do not.

You have not filed anything yet correct? Not that it matters, wages are a legitimate business expense and if you don't get paid, the likelihood of the business surviving is non-existent.

[BCA2009]

Are you 100% owner? If you are an S-corp, partnership or LLC, it won't make any difference as long as you are 100% owner. A C-corp will get more complicated.

On Non C-Corp's if you don't get a W-2, you will get a K-1, You have to include the income either way.

If you are not 100% owner it also gets more complicated.

If you have been drawing a salary plus bonus in the past, you can't just stop. The trustee will call you out on it.

You need a good attorney to help you wade thru this.