mercredi 28 décembre 2016

Reimbursing owner for taxes paid from S-corp profits

I am 50% owner of an s-corp which had a profit last year. I did not take any distributions or bonuses but the profit was passed on to me since the business is an S-corp. First question, how do I determine the amount that this affected my personal taxes and can the business reimburse me for it? Secondly, how do I account for it so it doesn't look like a distribution or get taxed again this year?


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