TaxGuyBill
Level 15
02-25-2023
07:10 PM
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@PFSLLC wrote:
I was thinking a zero based 1120S and a Schedule C for the business dedutions and income
You certainly can't pretend the corporation didn't do business and treat all income and expenses as a sole proprietorship. If the business was done under the corporation, the income and expenses go on the 1120-S.
As for payroll, abctax gave you the options, and as she said the correct way to do it is to file late payroll forms for their "compensation" and expect late penalties.