BobKamman
Level 15
02-06-2021
11:58 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
What @qbteachmt said. Call it all Draw. It's not clear whether the business has a "real" employee, for whom the Wages and other accounts would have to be kept.
I would interrogate question the client to make sure that he didn't set up an LLC and then elect to have it taxed as a corporation (S or otherwise). You don't want to undo this twice.