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    3 Replies Latest reply on Feb 23, 2008 8:07 PM by elpelp

    What wages do I need to pay myself if I form an S-corporation?

    j.senger Newbie
      Currently as a sole proprietor I have a handy man business and a lawn service. About 70% of the time I work by myself. To satisfy IRS, since I do most of the work myself can I pay myself the same market wage of the employees I hire doing the same work? Or do I need to pay myself a supervisers wage even though I am working by myself?

      Also we currently keep books on a cash basis and capitalize all expenses. Will the book keeping change much when we go to an S-corporation (in Texas)?