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I am the sole owner of an S corp and I'm about to pay a distribution to my self in an amount greater than $10,000. When are the taxes on this distribution due? Am I required to pay them immediately, at the end of the quarter, or can I pay them with my annual return?

When preparing a tax return, if you don't understand the reason for a question being asked by the tax program, you should not assume it is a program error. While the amount distributed does not affect the taxable income on the K-1, the amount distributed does go on line 16 (code D) of the K-1 as an...

I am doing my taxes using Turbo Tax Business 2016 and I've come across what appears to be an error in the software. I am the sole shareholder of an S-corp that had a profit in 2016. These profits were not distributed though, they were retained by the company. As such, I need to create a K-1 form for...

Howdy, I am the sole owner of an S-corp and its only employee is myself. In the fourth quarter of 2016, my gross salary was $25,000. I have filled out a Form 941 however the 'Balance Due' field is confusing me. Here is a screenshot with the values filled out: m The form is saying that the tax liabil...