S
SJ
I've been running a one-person corporation for 20 years and my accountant
always has filled in Schedule E Compensation of Officers even though the
company's total receipts are way below the $500,000 the IRS says to use for
Schedule E.
He always lists my salary on line 12 of 1120 (corresponding entry in
Schedule E) instead of using line 13 of 1120 for salaries and wages.
What is the reasoning behind doing it this way? The salary comes off as a
deduction either way so I don't get it (my accountant is off in the Bahamas
right now spending my money no doubt so I can't ask him).
Thanks.
sj
always has filled in Schedule E Compensation of Officers even though the
company's total receipts are way below the $500,000 the IRS says to use for
Schedule E.
He always lists my salary on line 12 of 1120 (corresponding entry in
Schedule E) instead of using line 13 of 1120 for salaries and wages.
What is the reasoning behind doing it this way? The salary comes off as a
deduction either way so I don't get it (my accountant is off in the Bahamas
right now spending my money no doubt so I can't ask him).
Thanks.
sj