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How do you account for the Compensation of Officers if both officers were paid wages but one was no longer an officer at the end of the year?

vrodriguez
Level 1

The business was sold in November of the calendar year, therefore one officer was taken off and another was added in November when it was sold to him. They both received wages; one, for Jan - Oct and the new officer for Nov. & Dec.

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IRonMaN
Level 15

I would show them both as officers.

Barber! Why didn't I think of this before? Getting paid to give out bad tax advice - need I say more? I've run with scissors for years so it is a natural fit.

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IRonMaN
Level 15

I would show them both as officers.

Barber! Why didn't I think of this before? Getting paid to give out bad tax advice - need I say more? I've run with scissors for years so it is a natural fit.

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Accountant-Man
Level 11

Me, three.

** I'm still a champion... of the world! Even without The Lounge.
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