Lucas Cowald wrote:

- quote -


That's about the size of it.

On a practical note however, it really depends on the number
of employees you have and total payroll taxes.

For instance, if just you as employee, and if your salary
isn't too much, you could get by with filing the 940 year's
end and sending a check for up to 56$. And if quarterly
941 taxes aren't over 2500$, you also can just send a check
with the form when due.

And these days, don't even have to send checks. IRS has
made it really convenient to take your payments on the web.
EFTS, or something like that. Just like making other
payments, you specify the bank and pertinant numbers to use.

As for estimated taxes, that also depends on the extent of
your corporate taxable profit(s).

Local help would be advisable, at least in first year.

Cheer$,
Harlan Lunsford, EA in LA

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- quote -

No, this one goes to the US Treasury.

Carol

If you awoke to find yourself a success, you weren't asleep.
Semper Gumby (Always Flexible)

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I have a S-Corp. Please correct me if I am wrong. From my
understanding is that I have to File the following forms and
pay:
1) Quarterly, 941 + 8109 with payment for employment taxes.
Deposit at the bank.
2) Quarterly, If I wish to make estimated tax payments, I
send 1040-ES with a voucher + payment every quarter. I
understand that I 1040-ES is the only form that I should
use to pay estimated tax for S-Corp income. Deposit at
the bank.
3) Annually form 940 + 8109 with payment for FUTA.
Deposit at the bank.

Thank you.

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