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    1 Reply Latest reply on Jan 11, 2010 12:54 PM by meistaffing

    S-Corp Questions

    a1parrothead Newbie



      I am a single
      shareholder of a newly formed S-Corp. I
      admit to being somewhat confused on a couple of items due to conflicting advice
      I have received and conflicting things I have read. First, since I am the
      single shareholder, do I have to hold annual meetings? If so, do I just appoint
      myself as the president secretary, etc.? Second, can my wife the company secretary
      for meetings and if so, do I have to pay her? Next, I
      have read that a husband and wife can be considered a single shareholder. I am
      also thinking of making my wife an actual employee and doing work. I would pay
      her a reasonable wage and comply with all taxes etc. If I do that, can she be
      the secretary and employee and not be a shareholder? I am pretty confused about
      how having her listed as the corporations secretary , having her as an employee
      and whether or not, by virtue of marriage, she is a shareholder. Basically I want to know if I am required to
      hold meetings, if I can hold them by myself, and if my wife works as an
      employee drawing a wage does she also become a shareholder. My idea was to make
      it as bare bones simple as possible. Me as the president, secretary, and single
      shareholder with my wife as an employee.