Legal Question in Tax Law in Arkansas

I am an s-corp in Arkansas. I am the only employee. Do I fill out a w-2 just like I was hired as an employee?


Asked on 3/09/11, 11:28 am

1 Answer from Attorneys
Chad Oldham Oldham Law Firm, PLLC

Great question. You need to talk to your accountant. S corps have been utilized in recent years to minimize self-employment tax. You can pay yourself as an owner/employee a reasonable salary on which you must pay self-employment taxes and then pay the balance of profits out as dividends not subject to employment tax. Consult your accountant or tax preparer.

Read more
Answered on 3/10/11, 8:36 pm


Related Questions & Answers

More Tax and Taxation Law questions and answers in Arkansas