S-Corp Tax Payments

Thank you for posting again here in the Community, @lilavalv. We know how to record S-Corp Tax payments in QuickBooks Desktop (QBDT) and we're here to help you perform on your end. 

If you track S-corp throughout the year, or your shareholders have the same plan as your employees, and they won't be paid the rest of this year. To start, set up the company contribution payroll item. Here's how:

1. Select Lists, then Payroll Item List.
2. Choose the Payroll Item ▼ dropdown, then New.
3. Pick Custom Setup, then Next.
4. Select Company Contribution, then Next.
5. Enter the name of the item, then Next.
6. Select the name of the agency (or add it) and the account number.
   - In the Liability account field, select the account you’ll use to track company contributions. In the Expense account dropdown, select the expense account that you want to track the item. Select Next.
7. In the Tax Tracking Type window:
   - Select SCorp Pd Med Premium for the 2% shareholder that has the same medical insurance plan as all employees.
   - Select  Fringe Benefits if the 2% shareholders have a different plan from other employees or don't offer the plan to employees at all.
8. Select Next three times, then Finish.

After that, add the item to the employee's profile. Follow the steps below: 
 

1. Select Employees, then Employee Center.
2. Double-click your employee’s name.
3. Select Payroll Info.
4. In the section for Additions, Deductions, and Company Contributions, under Item Name, add your S-corp payroll item.
5. In the Amount column, enter the amount per paycheck to take out. In the limit field, enter the total premiums for the whole year.
6. Select OK.

However, if your shareholders have a different plan from your employees, and they won't be paid the rest of this year, you can read this article for detailed steps: Set up an S-corp medical payroll item for your corporate officers.

Feel free to read this article to manage your tax payments: 
 

• Track Usage tax.
• Run payroll reports.

We're glad to have you here. If questions come to your mind, don't hesitate to reply to this thread or post again. We'll be willing to lend a hand. Keep safe.

@lilavalv 

Your S-corp does not pay the estimated taxes, you pay them personally.  If you need to take a distribution from your S-corp in order to pay them, make a distribution to the shareholders.  S-corp distributions need to be made in proportion to your ownership percentages and you need adequate basis to take the distributions.  To take a distribution, write a check and assign 'Distributions - 2023' to the check.  Set up a Distributions - 2023 equity account if you need one.