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Level 1

I would like to take an S corp distribution at the end of the year as the owner of the S corp. Can I do this with quickbooks payroll online?

 
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Best answer 12-10-2018

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Level 15

I would like to take an S corp distribution at the end of the year as the owner of the S corp. Can I do this with quickbooks payroll online?

Distribution = Write Check to yourself and post from Equity.

This is not payroll and has nothing to do with payroll. It would be only After a reasonable payroll wage has been paid to you through the year for the work you perform for the company.

You are not an Owner. You are a Shareholder. If you work for the business, you are Employee-Shareholder.

Please see my attachment.

View solution in original post

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Highlighted
Level 15

I would like to take an S corp distribution at the end of the year as the owner of the S corp. Can I do this with quickbooks payroll online?

Distribution = Write Check to yourself and post from Equity.

This is not payroll and has nothing to do with payroll. It would be only After a reasonable payroll wage has been paid to you through the year for the work you perform for the company.

You are not an Owner. You are a Shareholder. If you work for the business, you are Employee-Shareholder.

Please see my attachment.

View solution in original post

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