Any Florida single member LLC taxed as S corp do own payroll?

1 Reply

This is my first year as an LLC taxed as an S corp. I am a single member LLC and anticipate not paying myself until the end of the year. I use to report on Schedule C, but now will be using form 1120 to report the earnings/expenses of the business and my salary will end up on my 1040. Im wondering if anyone else does their own payroll or do you hire it out? Florida requires me to pay unemployment tax beings I know have a payroll for myself. The business income is sporadic so I will not pay myself a salary until the end of the year. Is this ok? Thanks!

@Mike Nelson

I pay myself the same every month because of filing 945s etc. and then a bonus at end of year. Dividends are paid  as needed.  Get bookkeeper or cpa or payroll company to help -missing reporting forms is a pain in the rear with the state. 

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here