Hi!

I own a small s-corp. I got laid off from a teaching job, and it was determined that my business was considered a "sideline" business and I COULD collect u/c. I want to take a distribution from my s-corp, and I don't know if it's considered income when I file u/c next time. Since you don't pay ALL taxes like you would on income, would it be income? Not sure how to handle it the next time I file u/c.

Anyone have any thoughts/facts on this?

Thanks!

And, Happy New Year!!!

Kathy