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tax-doctor
tax-doctor, Tax Preparer
Category: Tax
Satisfied Customers: 637
Experience:  Federal, State and local income tax preparation
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I own a small construction company that is a S-Corp. I pay

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I own a small construction company that is a S-Corp. I pay myself through payroll and receive a W-2 for this. I also make occasional draws from which I enter in the books as Owner's Draws.

How do I enter the payroll portion into the books? Would I enter it as employee wages with the rest of the employees' wages, or should I enter both, my payroll wages and Owner's Draws, as Owner's Draws?

tax-doctor :

hello, my name is XXXXX XXXXX I'll be happy to answer this question

Customer:

Hello Michael.

tax-doctor :

your w-2 wages are entered along with the rest of your employees and your draws are just that distributions which will be reconciled via k-1 at the end of your tax yr

Customer:

Great, thank you!

tax-doctor :

you're welcome!

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