Established Community Backer ***
This widget could not be displayed.

Re: How do I process a one time paycheck to myself for my S-Corp?

This isn't the issue: "I don't really have a need to get paid. I probably spend an hour every two days."

 

You don't get this as an option, because you chose to run under an S Corp as the tax entity type. That means you are employed by the corporation. If you wanted to not deal with this issue and don't intend to comply with the payroll requirements, then you would have operated as a Sole Proprietor.

 

This isn't the question: "$12k / 183 = $65 per hour"

 

The question was taking $6k as distribution and the same as payroll = Splitting it like that. The IRS is wise to that tactic. Please see my attachment.

 

In addition to the resources from the IRS, I recommend reading case studies and rulings and the comments at "Reasonable compensation reports" url:

https://rcreports.com/index.php