Officers in S-Corporations are typically paid on an annual or quarterly basis. This is very different than small business payroll.
In the U.S., income tax must be paid when it’s earned or received during the year and at least 90 percent of the income tax owed must be paid on a quarterly basis. And if you’re taking dividends, you have to manage complex tax and reporting requirements to avoid IRS fines. With DISCOVERY PAYROLL, you can leave this payroll tax work to us.