Are you a New S-Corp? Follow These Steps!
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Step One: Open a Business Bank Account
We help you register in your state,
obtain an EIN, and take to the bank
(call the bank for their specific requirements)
DO NOT CO-MINGLE YOUR BUSINESS AND PERSONAL FUNDS
All business deposits MUST be deposited into the business account
Pay all business expenses out of the business account
Never use the business to pay for personal accounts EVER
Step Two: Paying Yourself
Reasonable Salary - We conduct this review for you annually and file forms for you
Distributions - Transfers from the business to your personally not tied to payroll taxes
Step Three: Filing your 1120 S
We file your return by March 15th
Step Four: Payroll Forms
These are required to be filed because you are have a reasonable salary
You must file Forms 941, 940, W-2, W-3, various state forms, and pay your payroll taxes
We prepare all of this for you, so you get to operate your business instead of dealing with payroll
Advantage Consultant Solutions, LLC
265 N Main STE D342Kaysville, UT 84037
801-210-1151
admin@advantageconsultantsolutions.com
265 N Main STE D342Kaysville, UT 84037
801-210-1151
admin@advantageconsultantsolutions.com
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