Welcome Guest. Register Now!  


Payroll Payroll related topics.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 12-22-2010, 12:59 PM
Junior Member
 
Join Date: Dec 2010
Posts: 1
Payroll taxes

Hi,

We are a C Corporation and expect to have a profit of $2900 this year. This is our first time with revenues and some profit. We have a carryover loss of $3000 from prior ear.

Is it advisable to deplete the balance to zero by distributing bonus for the 2 founders (only 2 employees) to avoid any possibility of a tax liability on the leftover profits.

For the Q4-2010 payroll taxes, can we make payments in 2011 (due by Jan 31, 2011) and still claim the payroll tax deduction for 2010 taxes. Or can we claim only if we incur and pay durig the same year. We are on Jan to Dec accounting.

Thanks.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Employer matched payroll taxes, form 4137? jcarter Income 0 04-16-2010 09:49 PM
Startup LLC and Payroll Taxes Without Revenue aaronseattle Payroll 0 02-03-2010 02:27 AM
Senate debating about reduction in payroll taxes for new hires! MasterCPA CPA Forums 1 01-27-2010 10:37 AM
payroll taxes JasonRedir Sole-Proprietorship 1 02-17-2009 10:48 PM
Is it better to do your own payroll tax returns or hire an outside payroll company? Sabby Sole-Proprietorship 1 07-21-2008 01:02 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning